EnergyWatch

Nel's surge in revenue triggers big deficit

Despite substantial growth in commercial activity, Danish-Norwegian hydrogen company Nel's costs still vastly exceed its income.

Photo: PR/Nel

Hydrogen company Nel is paying a high price for maintaining its global leadership in supplying hydrogen refilling solutions for the transportation sector.

This appears clear in the company's 2018 annual financial report, published Wednesday morning. The report shows a deficit of NOK 197.5 million (EUR 20.31 million) for the whole year. This is significantly deeper in the whole compared to 2017, when the company recorded a deficit of NOK 124.4 million.

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