Revenue Growth in Alkaline Segment
Revenues in the Alkaline Electrolyser segment increased by 10% in Q4 2024 compared to Q4 2023 and by 15% on a full-year basis. The segment delivered close to NOK 100 million in accumulated EBITDA over the past two years.
Improved Financial Performance
EBITDA improved year-on-year in Q4 2024 by NOK 42 million. The full-year EBITDA saw an improvement of almost NOK 100 million, with positive cash flow from operations in Q4 2024.
Strategic Partnerships and Grants
Secured a EUR 135 million grant to industrialize next-generation pressurized technology in Norway, and formed partnerships with industry leaders such as Samsung C&T, Trillium Transportation Fuels, and Korea Hydrogen and Nuclear Power.
Expansion in Manufacturing Capacity
Expanded manufacturing capacity to 1.5 gigawatts, with full automation: 1 gigawatt in Norway and 500 megawatts in the U.S.
Positive Outlook for 2025
Expected higher order intake in 2025, with early signs of recovery and projects maturing towards financial investment decision (FID).