Nel ASA has reiterated its cost target for green hydrogen production at $1.5/kg by 2025 with the company also discussing several projects aimed at reaching this intended goal.
This is comes with the news that Nel has achieved revenues of NOK 156.9m ($18m) in the first quarter of 2021, up 24% from NOK 126.5m ($15.1m) in the same quarter of 2020.
The key element to deliver on the cost target is the expansion of the electrolysis production to accommodate large-scale projects by constructing a fully automated manufacturing facility in Herøya, Norway the company said on Tuesday (4th May).
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