Nel ASA stock: Not to be prevented!

After its weakness at the beginning of the week, the Nel ASA share started Wednesday with a small glimmer of hope. After the shares of the Norwegian hydrogen specialist had exited trading on Tuesday at only 1.44 euros, they improved again slightly to 1.46 euros. But already in the afternoon, the Nel share dropped significantly again, finally leaving trading in Frankfurt at only 1.42 euros, and also on Thursday morning the share slid further. Even an order worth millions could not prevent this.

Nel reports order for two H2Station™ modules

For on Wednesday, the company announced that Nel Hydrogen Fueling, a subsidiary of Nel ASA, could now report two firm orders from a European customer for H2Station™ modules. “We are grateful for the trust placed in us and the fact that we continue to support the provision of hydrogen as part of the electrification of the transport sector,” says Christian Vinther, Regional Sales Manager of Nel Hydrogen Fueling.

Nel ASA is very pleased about the order from an unnamed customer, which is valued at three million euros. The hydrogen refuelling stations are “our state-of-the-art generation designed for the rapid refuelling of heavy-duty vehicles such as buses and trucks”, they say.

Nel ASA clearly down for the week

At the end of March, Nel had already announced that it was “in advanced commercial negotiations” with two independent customers about sales contracts worth about 3 million euros each. One was for an alkaline electrolysis system, the other for hydrogen refuelling modules. These negotiations have now apparently led to success, but have not been able to entice investors. The Nel share is currently down about 20 per cent for the week.