Like many firms in 2024, Nel ASA has felt the challenges of an ever-changing hydrogen market.
Companies don’t come any more embedded in the sector than the Norwegian electrolyser manufacturer, which despite its founding in 1927, reported a 10% year-on-year decrease in its revenues for Q2 2024 – some NOK 332m ($31m).
Primarily attributed to lower delivery volumes of its alkaline electrolysers, Nel continues to operate at a loss. Q2 saw those losses stack up to NOK 118m ($11m) – a modest improvement from the previous year.
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