Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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Oslo, 12 July 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order from Viva Energy Australia Pty. Ltd. (Viva Energy) for a MC500 containerized PEM water electrolyser. When installed, the electrolyser will be the biggest in Australia and provide green hydrogen to a fleet of heavy fuel cell vehicles.
Viva Energy is an ASX listed company that owns the Geelong refinery and supplies a service station network of around 1,350 Shell and Liberty service stations across Australia. Viva Energy also supplies fuels and other products to a range of commercial customers.
As part of its Geelong Energy Hub, Viva Energy is building a new energy service station near its Geelong refinery that will provide battery charging and hydrogen refueling. The system delivered by Nel is a containerized solution with a production capacity up to 1,063kg/day, and will supply fuel cell grade hydrogen directly on site to the dedicated fueling station. The project received a grant from the Australian Renewable Energy Agency (ARENA) as part of ARENA's Advancing Renewables Program and the Victorian Government also contributed to the project via the Renewable Hydrogen Commercialization Pathways Fund.
“It is a great pleasure to collaborate with Viva Energy and our local partner ENGV to develop this unique flagship project in Australia. This project is an important milestone for Australia’s targeted efforts to decarbonize the mobility sector and create a local hydrogen economy”, says Raymond Schmid, VP Sales and Marketing EMEA and Oceania.
The contract has an approximate value of about EUR 4m, and the system is expected to be delivered in Q3 2023.
July 8, 2022 – Oslo, Norway
Nel ASA: Receives purchase order for an alkaline electrolyser system from Skovgaard Energy
(Oslo, 8 July 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has received a purchase order for an alkaline electrolyser system from Skovgaard Energy Aps in Lemvig in Western Jutland, Denmark. The electrolyser system will be used for production of green ammonia.
The green ammonia plant, to be built by Skovgaard Energy and their Danish project partners, Topsoe and Vestas, will be the world’s first dynamic green ammonia plant, where renewable electricity from wind and solar will be connected directly to the electrolyser. This is a demo plant that will test how an ammonia reactor can fluctuate operations based on renewable power input. This will be important learning prior to scaling for future large-scale power-to-X and green ammonia plants. The Danish partnership has been awarded financial support for the project by the Danish Energy Technology Development and Demonstration Program (EUDP).
“We are thrilled for this project, which will be an important milestone in the green transition as it showcases green hydrogen production into green ammonia directly from renewable sources. Skovgaard Energy is an exciting client, and we look forward to continue a fruitful relationship with the company and partners“, says Henning Langås, Senior Tender Manager of Nel Hydrogen Electrolyser.
“For this project we selected the alkaline electrolyser technology from Nel as we do not want to risk the project with unfamiliar electrolyser technology. Nel’s alkaline electrolyser is proven technology of high quality, and it will also match well with the intentions of the demonstration project of dynamic operation of the ammonia plant”, says Pat A Han, Technical Director of Skovgaard Energy.
The contract has an approximate value of EUR 4m, and the system is expected to be delivered in Q3 2023.
(Oslo, 24 June 2022) Yesterday, Enova announced that Glomfjord Hydrogen, where Nel owns 23 percent of the shares, will receive up to NOK 150 million in funding as one of five maritime hydrogen hubs along the Norwegian coastline.
“This is great news for Glomfjord Hydrogen and Nel. The funding from Enova is crucial for the realization of the project.” says Nel’s CEO Jon André Løkke.
Glomfjord Hydrogen plans to establish a 20 MW hydrogen plant in Glomfjord in Meløy municipality for production of renewable hydrogen to customers in the maritime sector. The project, which is owned by Greenstat ASA, Meløy commune and Troms Kraft ASA in addition to Nel, was initiated in June 2016.
“The 20 MW hydrogen plant in Glomfjord will, if realized, be the same size as Europe’s currently largest hydrogen plant”, says Løkke, referring to Iberdrola’s hydrogen plant in Puertollano, Spain, where Nel also delivered the electrolysers.
“Glomfjord is a place with a long and proud industrial history in Norway, and until the 90s Glomfjord Industrial Park was the largest hydrogen production site in the world. It is therefore very gratifying that Glomfjord once again seems to become a new green hydrogen hub in Norway”, says Løkke.
Enova, which is a state enterprise owned by the Norwegian Ministry of Climate and Environment, also announced that four additional hydrogen hubs will receive funding. These projects will be located in Rørvik, Hitra, Florø and Kristiansand.
“We are happy to see so many large and interesting projects developing on our own home turf in Norway, where we have our roots and a natural competitive advantage”, says Løkke.
All in all, the five hydrogen hubs will receive up to NOK 669 million in support from Enova, which also announced that they will support seven game-changing hydrogen and ammonia driven vessels with more than NOK 451 million.
This big one is another one that didn’t go to NEL, but to a US OEM despite the project being in Europe: https://www.rechargenews.com/energy-transition/first-ever-gigawatt-scale-electrolyser-order-confirmed-for-offshore-wind-powered-green-hydrogen-project/2-1-1220683
And I suspect the reason is again the need for flexibility to match wind turbines variable output, hence the choice of PEM technology.
NEL need to accelerate their deployment for an automated PEM electrolyser production line if they want to grab that part of the market. Until they have that I’m not sure how the large deals will come through…
Though, of course, I might be all wrong. DYOR.
Nel's Q1 results still seem a strong performance to me...
Q1 Revenue NOK213m (up 36% YoY)
Order backlog NOK1.3bn (up 19% YoY)
Top five FEED studies in progress include three projects circa 750MW in Europe.
Based on the fall in hydrogen stocks we've been seeing, I think all those running away from hydrogen stocks right now are running in the wrong direction. The companies keep reiterating their 2025 expectations for the scale of the opportunity so we've only got 2-3 years to see whose right...that's really close. For context, Plug Power restated their expectations for '23, '24 and '25 on Monday. Basically they're both saying the same thing, so either they're both wrong or the market doesn't get it yet.
Glad to see you still posting occassionally, MO.
Hope wifey makes speedy recovery.
Well that was lucky. When I topped up on Hexagon Comp & Purus it was during a flash crash. Pay ya money and take a chance. Lucky me.
https://www.wsj.com/articles/flash-crash-hits-stocks-in-europe-11651504299
Hi RAS.
To be genuine I have only added to my Hexa Comp and Hexa Purus positions and bought Nikola on the drop.
NEL will supply the deals that are and will see profit, revenue and orders only increase through the year.
One main reason was Hexa Comp & Purus only have 200m in issue, so take much less to move the sp dial.
I am STILL 100% behind NEL but feel I can make quicker bang for buck and hit my 55 year retirement quicker.
Sometimes the smaller companies move quicker than the huge global ones. I was expecting NEL to move prior to official heroya promo. It didnt and thats when I sold out to move to NEL held investment sister companies which are getting deals but the sp is moving more. Disappointed that the heroya advantage has not been bought up to take you guys to mid NOK25.00's ? My gut told me to move sideways so I did , but I do not understand why NEL cannot seem to hold up above NOK14-16.00 and as it should be .... back up above NOK20.00 no problem.
Most hydrogen companies have and are being hit so take a little comfort in that.
If you believe in the sector spread the risk if you have time and NEL would be one for me in a 3-5 year window but I am down to 2 years and a couple of months so I am applying more risk than I would normally BUT they are now companies making and supplying rather than a mine which may open by 2024-25. I hope my strat and + risk pays me off well.
I also dont get why ITM are getting battered !
I dont hold but look at them as sector comp BUT good comp that should be a £6-8.00 share by year end ? Many keep saying £3.00 is the buy level.
Might put some profits back in to them once I am near my target.
Keep posting , I do keep reading but my wife is very poorly long term so another reason to try and superboost my returns , fingers x'd.
If I read anything positive I think you guys shpuld know I will still post as and when.
GLA
Hi Major,
Have you bought back in?
Nel hydrogen company & factory information released yesterday.
https://www.tu.no/artikler/nel-apner-ny-elektrolysor-fabrikk-planlegger-allerede-firedobling-til-2-gw/518969?key=3P6T8942
US hydrogen hub. Tick.
A move in the right direction at last.
https://news.cision.com/nel-asa/r/nel-asa--official-opening-of-the-heroya-facility,c3548261
Are NEL providing the electrolysers??
Does seem to bounce about a bit this share.
I am resigned now To waiting a couple of years and hopefully it will tick up in that time.
Not expecting any big moves, unfortunately
I receive a regular news letter via the internet from the above publication.
Apparently Lidl have decided to change their entire fleet of electric vehicles to hydrogen powered.
Great news I would have thought.
https://www.rechargenews.com/energy-transition/vattenfall-led-hydrogen-fuelled-green-steel-pilot-lands-160m-in-eu-grants/2-1-1195147
Those on this board will likely know if this is big news for NEL or old story.
NEL supplied 4.5MW electrolyser for 1st phase. It looks as if this is ramping up to 500MW electrolyser. No mention though of who will be supplying but NEL must be in a good position. Any thoughts ladies/gents?
Thanks Major for all your valuable contributions. You will be missed. Good luck with your investment decisions
My very final post.
I have enjoyed those who have posted in good faith and it has been one of the best forums with very little anger and trolling. Plenty of information has been posted and updated and even given heads up when Nel's own website does not refer to new potentials they are linked with.
I have moved all my money now to :-
Hexagon Composites and added quite a lot to Hexagon Purus.
Both feed off supply from NEL ;-)))
If Nel can increase output, it will generate so much more money for the two above.
With both Composite ( including the fact they own Hexagon Agility USA targetting ) and Purus any increase in gas volume will increase all 3 businesses.
I am retiring in 2 1/2 years. Just want to superboost the potential. Nel does seem lathargic but make no mistake Nel will increase in value and become a global leader but probsbly a year or two too late for my own personal ambitions. I take more risk, but based on Nel's strength and solid management.
Good luck all and 100% NOT FINANCIAL ADVICE. It is to fit my own personal circumstances.
NEL IS A BUY ! Long term.
Many thanks for all your efforts over the last couple of years and good luck in the future
Upfrontfromhere.
Well today I am being up front after a quiet month from me on posting.
Upfront. An article came out in the last few days about the lines now being drawn WITHIN hydrogen classification. Grey Blue Green. The serious money is looking at the greener end as long term investment. It makes sense as grey or even blue in 5+ years may be seen as "dirty" to improved tech pushing ever "greener" hydrogen.
So the point I asked Jon Andre Lokke on regarding Yara and the Heroya fertilizer plant across the road.
I put my hands up straight away now and say I was the one who was extremely excited by the possibilities of ammonia and it being SO close to Heroya factory.
Jon replied the costs involved were too high for Nel and NOT what was part of getting hydrogen down to USD1.50 and below. Impossible with the costs associated so Nel let it go with good luck to the buyer.
The article this week confirms this hypothasis.
Now I have an example of Nel turning away from certain types of easy money in favour of pure green - BlackAdder ref for the older ones , wink,
After 3 contract wins this week and the cash raise for the new to be announced factory , the sp although it will advance is not moving as I would like.
Yesterday I did some serious research once again to try and pull apart my own previous research , now in the knowledge of the last 30 days and proof of Nel's laser aim , I have made a big decision.
I have sold out of Nel at a profit , as many will know for 2+ years I was about the only one posting on here and thus shows I was in early. I have made good money as my investment was quite large for a private investor.
So I say bye to all the long term holders and genuinely wish everyone good luck. Nel will rise and become a major player or even may get bought out ?
All the best and I hope my years of posting and the rise to 34.00 brought some good profit taking ops.
Kind regards
MajorOak - ( RobinHood ).
I guess they’ll need the cash to invest in automated production lines for PEM instead of alkaline electrolysers.
After listening to the presentation they gave in the middle of Feb, I’ve got the feeling they will pivot towards more PEM rather than build a second production line for alkaline in Heroya.
Loosing to ITM in their backyard when YARA bought a PEM electrolysers recently was quite telling I think.
Then you’ve got the big boys getting in the game, also with PEM https://www.h2-view.com/story/siemens-energy-to-begin-industrial-scale-electrolyser-manufacturing-in-berlin-germany/
NEL will need to pull in these 200MW + deals pretty quickly if they don’t want to be overtaken…
For now, having also seen some pretty big director sales recently, I’m out.
GLA
Mark, I've been looking too and can't see any release by the company that relates to this stock issue. I would have thought it mandatory to release this sort of stuff. It does indeed look like the number of shares in issue is up by 98m since the last shares in issue I looked at which was October's. It's a large release of shares (>6%) which would certainly go some way to explain the out-of-the-blue 10% drop middle of last week.
I can't find anything about this on the NEL website . Is it a Monday morning failure of my part?!
https://www.marketscreener.com/quote/stock/NEL-ASA-1413121/news/Nel-ASA-Key-information-relating-to-subsequent-offering-to-be-carried-out-by-Nel-ASA-39843512/
https://www.rechargenews.com/energy-transition/leading-european-hydrogen-electrolyser-makers-add-over-250m-to-factory-expansion-funds/2-1-1191406
https://www.reuters.com/business/autos-transportation/nikola-says-started-production-electric-trucks-march-21-2022-03-23/
Every cloud and all that. Nothing in the report.
Drooling at another lower price before PR DAY - S.
Nikola FCEV need refuelling stations prior to substantial production from Q1 23:across the US for hydrogen cells.
Heroya hits the hydrogen headlines in around 4 weeks !!!
Sorry these orders still in final stages of negotiation.
One new order here, and according to Lse far more bought than sold this morning, hard to see any justification for lowering the price prior to opening then reducing again.
https://mb.cision.com/Main/115/3530794/1552851.pdf