Awarded USD >13 million purchase orders for HDV H2stations from Shell
Since new year, received two purchase orders for H2Station® solutions for fueling of heavy-duty vehicles in California from Shell
Order issued under earlier announced framework agreement between Nel and Shell Global Solutions International B.V.
First orders for a HDV station from Shell – have already delivered several LDV stations
Total value of approximately USD 13.5 million
Nel will upgrade existing H2Station® technology to better accommodate the HDV requirements as well as further improving uptime/reliability of station equipment
Awarded PO for PEM electrolyzer and enters a 30 MW framework contract
First containerized megawatt PEM electrolyzer from Nel in Europe
Awarded a USD >3 million PO for containerized 2 MW Proton PEM electrolyzer as part of new 30 MW framework contract with Hydrospider AG, an affiliated company of H2 Energy AG
Represents phase 1 of the 60 – 80 MW needed to supply green hydrogen to the 1600 expected trucks from Hyundai over the coming years
Will be first containerized M-series PEM electrolyzer from Nel to be installed in Europe
H2 Energy is working together with partners to establish a nation-wide network of hydrogen stations and hydrogen supply chain in Switzerland
Received purchase orders for 8 H2Stations in Korea, 9 in total
Breakthrough for the Nel hydrogen fueling solutions in the Korean market
Nel Korea has received following PO’s
Two H2Station® from Gangwon Technopark
Value contract EUR ~2.8 million
Purchase orders for six H2Station® from Korea Gas Technology Corporation (KOGAS-Tech)
Value contract is around EUR ~8.0 million
Korea has ambitions of 310 hydrogen stations by 2022
Nel has joined HyNet, a special purpose company for expanding the country’s hydrogen infrastructure is under development
Target to establish 100 H2 stations in South Korea by 2022
Awarded PO for H2Station® from HTEC in Canada
Nel’s first H2Station® to be delivered in the Canadian market
On May 3rd awarded a PO for a H2Station® fueling station from HTEC (Hydrogen Technology & Energy Corporation)
First H2Station® from Nel in Canada, opening up a new market
Will be installed in Vancouver, British Columbia (BC) during 2020
HTEC is a leading developer and provider of hydrogen supply solutions
Opened the first retail hydrogen refueling station in Canada in 2018 and is actively planning and building additional stations in Vancouver and Quebec, in collaboration with key retail operators
Entered into MoU for HDV standardization
Heavy duty fueling technology and standards reaching a mature stage
Entered MoU together with Air Liquide, Hyundai, Nikola Motor, Shell and Toyota to develop and test 70 Mpa hydrogen fueling hardware for heavy duty vehicles
Standardization will enable cost reductions and allow different makes of trucks to utilize the same infrastructure
Supported by R&D grant of EUR 1 million from the Danish Energy Technology Development and Demonstration Program (EUDP) for continued H2Station®? hydrogen technology development
Support efforts in development and demonstration of increased hydrogen fueling capacity, especially for heavy duty applications
Successful Nikola World event
Nel and Nikola = Hydrogen @Scale
Nel awarded contract as part of Nikola’s development of a hydrogen station infrastructure owned and operated by Nikola in the U.S.
Multi-billion NOK 1 000 MW electrolyzer and fueling station contract, to be deployed from 2021 – largest electrolyzer contract ever awarded
Nikola + Nel are vertically integrated - Nikola producing Fuel Cell Class 8 Trucks at the end of 2022 - Nikola using Nel technology for 8 tons H2/ day @ Scale Stations
Nikola currently has 13,000+ trucks in pre-orders
Received purchase order for a 4.5 MW electrolyzer from HYBRIT
HYBRIT aims to develop fossil free steel production for the future
4.5 megawatt alkaline electrolyzer solution will be used in a pilot plant for fossil free steel production
Hybrit Development AB (HYBRIT) is a joint venture owned equally by SSAB, LKAB and Vattenfall
The steel industry accounts for 7% of global and 10% of Swedish CO2 -emissions
Pilot plant will operate in Luleå, Sweden from 2021 – 2024, with target of full-scale implementation by 2035
Full scale implementation of the HYBRIT project will consume 15 TWh of renewable energy
Outlook
Ongoing growth initiatives and focus on long term high value orders will have a negative impact on Nel's ability to deliver positive EBITDA in the short term
Orders booked will primarily affect revenue growth from the second half of 2019
Continue work on the x10 electrolyzer factory expansion to support deliveries to Nikola and other customers
Leveraging the fast-growing Heavy Duty Vehicle (HDV) opportunities
Developing next generation electrolyzer technology for industrial applications, such as ammonia, refineries, etc.
Significant tender activities for larger projects for electrolyzers and H2Stations
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