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The latest announcement is out from NEL ASA ( (NLLSF) ).
Nel ASA has announced a temporary production halt and workforce reduction at its Herøya facility due to lower-than-expected market demand for renewable hydrogen technology. The company plans to reduce its workforce by 20% as it adjusts its production capabilities in response to delayed and potentially canceled customer projects and overdue receivables. Despite these challenges, Nel remains financially stable and continues to explore new sales opportunities and invest in technology development, with a strong pipeline of clean hydrogen projects and potential sales of containerized PEM systems.
More about NEL ASA
Nel ASA is a leading hydrogen technology company with a global presence, specializing in electrolyser technology for renewable hydrogen production and hydrogen fueling equipment for vehicles. Founded in 1927, its products facilitate a green hydrogen economy, crucial for decarbonizing sectors like transportation, refining, steel, and ammonia.
YTD Price Performance: 9.76%
Average Trading Volume: 30,099
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $411.3M
See more data about NLLSF stock on TipRanks’ Stock Analysis page.
