Cavendish Hydrogen will make around 45% of its global workforce redundant in Q1 2025 and pause the development of its high-capacity hydrogen refuelling station as part of a cost-cutting plan.
The company was spun out of Norwegian electrolyser manufacturing company Nel last year, which took a 4.85% stake in Cavendish Hydrogen on Monday (January 20) in a bid to boost the refuelling station supplier’s finances. The firm’s stocks fell by around 82% from June 2023 to January 17, 2025.
Read more:Nel invests in Cavendish Hydrogen spin-off to secure long-term stability
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