Nel receives orders for H2Stations

Nel ASA receives two purchase orders for H2Station™ fueling systems from a European client.

Reference is made to the commercial update from Nel ASA on 23 March 2022. Nel Hydrogen Fueling, a subsidiary of Nel ASA has now received two firm purchase orders from a European client for H2Station™ modules.

“We are very pleased to receive these orders from the client for the H2Station systems. The H2Station is our state-of-the-art generation which is developed for fast refuelling of heavy-duty vehicles, such as buses and trucks. We are grateful for the trust the company has shown us and the fact that we continue to support making hydrogen available as part of the electrification of the transport sector”, says Christian Vinther, Regional Sales Manager of Nel Hydrogen Fueling.

The purchase orders have a combined value of above EUR 3 million.

The Annual general meeting of Nel ASA was held last week. The Board does not have the authorization to issue shares in connection with options already issued that will vest during 2022. Any gains for the employee on such options exercised will therefore have to be settled by cash rather than through issuing shares. This could lead to a cash cost for Nel ASA up to about NOK 47 million in addition to employer taxes.