Nel

Carnegie Investment Bank is proud to have acted as Joint Bookrunner in Nel Hydrogen’s successful NOK 1.6 billion directed share issue.

Nel is experiencing ever-increasing interest and opportunities within the hydrogen industry. The pipeline continues to improve and mature, and the company has recently been able to secure attractive large-scale contracts. The company is committed to capitalizing on its position as a technology frontrunner and will continue to invest in building scale to develop the organization and its technology platforms. This includes the already announced expansions at Herøya and Wallingford and organizational growth linked to order intake and tender activity, but also potentially further expanding the Herøya plant to 2 GW capacity and/or commencing construction of a new US Gigafactory related to the announced ongoing site selection process. The net proceeds from the directed share issue will be used to partially finance the expansion program and for general corporate purposes.

Carnegie congratulates Håkon Volldal, Kjell Christian Bjørnsen, and the rest of the Nel team with the successful transaction, and we look forward to continuing our support of Nel going forward.

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