Despite “disappointingly low” orders and final investment decisions (FIDs), Nel’s CEO and President, Håkon Volldal, is confident the clean hydrogen market will bounce back.
The Norwegian electrolyser manufacturer itself has felt the impact of waning movement in the industry. Its Q2 2024 results showed a 10% year-on-year revenue decrease to NOK 332m ($31m).
Throughout the first half of the year, Nel has operated at a loss, with lower delivery volumes of its alkaline electrolysers.
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