The company opened its Herøya electrolyser manufacturing plant on April 20 to much fanfare, bringing on-stream a long-awaited ‘game-changer’ facility for both Nel and the green hydrogen sector.
The company has now decided to secure long-lead items for a second 500MW alkaline production line, with a location in Europe yet to be decided.
The news comes as Nel continues to see a strong outlook for green hydrogen and today announced its first quarter 2022 financial results.
With a revenue and operating income of NOK 213m ($22m), up 36% from Q1 last year, Nel up their order intake to NOK 283m ($29.3m), seeing its highest ever order back log.
Nel reported that the ramp-up of its Herøya facility continued successfully, with the first electrolyser systems being delivered in Q1. Nel have also appointed Håkon Volldal as CEO from July 1, 2022.
Nel look to have accessed the possibilities of expanding its current Herøya site as well as looking further afield. Jon André Løkke, CEO at Nel said, “We have enough space to expand our production capacity at Herøya, but are also considering other locations in Europe outside of Norway, where the authorities can offer favourable frame-work conditions,”
Løkke also commented, “We remain committed to our growth strategy and are confident in the long-term potential for the industry. Both backlog and pipeline are growing, and we continue to see a strong outlook for green hydrogen.
“By industrialising our technology platforms, designing large-scale hydrogen plants, and further develop our technology, we will continue to reduce cost and take large steps towards our goal of reaching fossil parity by 2025.”
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