Revenue Growth Quarter-on-Quarter
Revenue from contracts with customers was NOK 303 million, up 74% quarter-on-quarter, indicating a strong rebound from the previous quarter.
Improvement in EBITDA
EBITDA improved to minus NOK 37 million compared to minus NOK 90 million last year, showing better cost management and execution capabilities.
Significant Cash Reserves
Nel ended the quarter with a cash balance of NOK 1.757 billion, ensuring financial stability despite market challenges.
New Orders and Contracts
Notable follow-on equipment order from H2 Energy in Switzerland for a 2.5 megawatt electrolyzer and FEED studies for 100-plus megawatt projects in Northern and Southern Europe.
Partnerships with Industry Leaders
Maintained strong partnerships with Samsung, Reliance, and General Motors, enhancing market credibility and innovation capabilities.
Promising Next-Generation Alkaline System
The next-generation pressurized alkaline system reduces the footprint by up to 80% and system CapEx by up to 60%, with significant energy efficiency improvements.