NEL ASA

NEL Hydrogen US has received additional orders from Collins Aerospace for PEM electrolyser stacks to provide oxygen for submarines, worth around $7 million. Together with a recently reported order of about $12 million and smaller orders, marine orders in the third quarter total roughly $20 million. The stacks will be manufactured at the plant in Wallingford, Connecticut, and are scheduled for delivery in 2027 and 2028. The NEL share reacted slightly positively; the next key date is provisionally the quarterly report on October 21. » More on finanzen.net

NEL Hydrogen US has won an order from Collins Aerospace worth about $12 million to deliver PEM electrolyzer stacks for oxygen supply on US submarines, to be manufactured in Wallingford with deliveries in 2027 and 2028. The order expands a collaboration that has existed for more than a decade and strengthens the defense segment, which is margin-rich. Relative to the PEM order backlog the volume remains small and does not fundamentally change the company’s overall strained situation. Operational problems in the civilian business, a revenue decline and the open CEO succession continue to weigh on sentiment around the NEL share. » More on finanzen.net

NEL will have Hydrasun manufacture the peripheral systems of its modular PEM electrolyzers in Aberdeen and integrate them into container-based complete systems, while the stacks will continue to be produced at the US plant in Wallingford. Hydrasun is building a production facility in Aberdeen for this purpose, funded by the Just Transition Fund, and is expected to create new jobs. The concluded framework agreement does not specify binding volumes or financial terms and is initially a strategic signal; reliable revenues depend on actual production and delivery. » More on finanzen.net