The progressing risk of an energy crisis in Europe forces governments to look for new, alternative sources of energy. Japan is considering a return to nuclear energy, and Germany is also planning to reopen nuclear power plants. As it turns out, for conventional energy in the form of coal, oil and gas, there are also alternatives other than uranium or renewables. One of them is hydrogen.
First uranium, now hydrogen?
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Open real account TRY DEMO Download mobile app Download mobile appDespite the fact that, at least for now, only a small fraction of energy in the world is obtained using hydrogen, recent statements by Olaf Scholz regarding Germany's involvement in hydrogen-based energy have raised investors' hopes for a potential boom in this sector. One of the major players in this industry is the Norwegian Nel.
Characteristics of Nel (NEL.NO)
Nel (NEL.NO) is a Norwegian company that develops hydrogen infrastructure and technologies, and provides solutions for the production, storage and distribution of hydrogen from renewable energy. Its field of activity is wide ranging from hydrogen production technology to the production of hydrogen refueling stations. It operates through the following segments: Nel Hydrogen Fueling and Nel Hydrogen Electrolyser. The Nel Hydrogen Fueling segment produces hydrogen refueling stations that provide electric vehicles with fuel cells with the same refueling speed and long range as conventional fossil fuel vehicles. The Nel Hydrogen Electrolyser segment manages equipment and installations for the production of hydrogen using the alkaline and water electrolyser technology. The company was founded by Erik Anders Lönneborg and Praveen Sharma in 1927 and is headquartered in Oslo, Norway. It is the world's largest producer of electrolysers.
Potential impulse for a hydrogen boom?
Olaf Scholz, speaking in the Bundestag on the energy crisis in Europe, indicated that 'hydrogen is the gas of the future, we will create a huge boom'. Nel is involved in the commissioning of the first hydrogen train in Germany, as part of the H2 West Coast group. In cooperation with the manufacturer of hydrogen trucks Nikola (NKLA.US), the company plans to expand the hydrogen infrastructure in the USA (H2Station fuel stations, electrolysers). So far, Nel has launched several dozen hydrogen stations in Norway. In July this year, the company received an order from the USA for the supply of electrolysers worth USD 45.4 million. The order is for 200 MW of alkaline electrolyser devices that will be used in industry. Production is expected to start in February 2023 and delivery by mid-2024.
Nel (NEL.NO), interval D1. Source: xStation5
