Record order for Nel Asa makes price rise

Dusseldorf Nel Asa shares are by far the biggest gainer in Norway’s leading index OBX on Monday. The shares of the hydrogen cell manufacturer rose by more than 15 percent at the top and reached the highest level since mid-April.

The trigger for the jump in price is the order intake of over 45 million dollars from an unspecified US company, which Nel announced on Monday. It is the largest deal in the company’s history. The long-standing customer ordered alkaline electrolyzers over 200 megawatts.

Nel boss Håkon Volldal commented on the order in the press release: “This project will demonstrate Nel’s extensive delivery and execution capabilities and will become a valuable reference for future large orders. It will have a significant positive impact on Nel’s financial condition, product and production costs for electrolysers, technology development and scale-up plans.”