Hydrogen company NEL ASA has strengthened its market position with a new PEM order worth more than $7 million.
• NEL lands new order
• Containerized PEM electrolyzers valued at approximately $7 million
• Customer has already ordered from NEL previously
The subsidiary NEL Hydrogen US of the Norwegian hydrogen specialist NEL ASA has landed another order for containerized PEM electrolysers worth around seven million US dollars. This emerges from a corresponding press release from the company.
Repeat orders signal trust in modular electrolysis technology
The order comes from Mesure Process, a subsidiary of Synqo Energies, and is for containerized PEM electrolysis equipment for a European project. This is this customer’s second order from NEL. The focus of the order is containerized electrolysis platforms based on PEM (Proton Exchange Membrane) technology. These are considered to be particularly flexible in use, quick to install and easily scalable – properties that are particularly crucial in the early phase of regional hydrogen ecosystems.
The systems delivered are intended to supply hydrogen filling stations as well as industrial applications. At the same time, Synqo Energies, as an EPC partner, takes over the integration of the infrastructure and supplies the complete hydrogen refueling system for a consortium of customers. Marcello Venturi, Managing Director of Mesure Process, described the project as an “important milestone,” according to the press release.
Small orders with a big signal effect
The order also has a signal effect for NEL ASA: “We are very pleased about this follow-up order from Mesure Process, which confirms the trust in our technology. The MC platform is becoming increasingly important. Thanks to its completely modular design, it is easy to transport and quick to install, making it an extremely versatile solution for a wide range of applications,” NEL CCO Todd Cartwright is quoted in the press release.
Even if the order volume of seven million US dollars is rather small compared to large projects in the double-digit or triple-digit million range, the strategic importance of the order should not be underestimated. Recurring orders show confidence in technology and delivery ability – two factors that are crucial in the competition to industrialize the hydrogen economy.
NEL is also further expanding its presence in the European market. The company had already reported several larger PEM orders in recent quarters, including projects totaling over $50 million for hydrogen initiatives in Scandinavia.
The NEL share ended Friday trading on EURONEXT in Oslo 10.5 percent higher at NOK 2.42.
Carolin Ludwig, editorial team at finanzen.net
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