Nel has reported a growing electrolyser order intake with its alkaline technology taking the largest strides as the Norwegian hydrogen company tightens its EBITDA.
The company reported a revenue increase of 121% to NOK 405m ($36.2m) from the same period in 2022 (NOK 183m ($16.4m)), with a tightening EBITDA of NOK -109m (-$9.75m) down from NOK -214m (-$19.1m) in Q3 2022.
Net losses reached NOK -226m (-$20.2m), dropping slightly from NOK -260m (-$23.3m) in the same 2022 period, which the company attributes to losses from operations and a “net negative unrealised fair value from shareholdings of NOK -90m (-$8.1m).”
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