Nel ASA Secures German Orders Amidst Hydrogen Infrastructure Push
Norwegian company Nel ASA has secured orders and partnerships in Germany, including a recent tie-up with HH2E AG. Meanwhile, the German government is pushing for faster, digital, and less bureaucratic hydrogen infrastructure development under the leadership of Federal Minister of Economics Katharina Reiche.
The German federal cabinet has approved a draft of the 'Hydrogen Acceleration Act' to streamline hydrogen-related procedures. However, the Federal Association of Energy and Water Industry (BDEW) has criticized proposed cuts to hydrogen funding, warning that it could jeopardize planning security and investments.
Katharina Reiche has expressed support for extending free allocations of CO₂ emission certificates under the EU emissions trading system. She argues that without such extensions, key industries in Germany could be lost. This stance relates to financing frameworks like the Hydrogen Acceleration Act, emphasizing industry support amid tightened emissions rules.
Despite temporary upswings, the Nel ASA stock has not recovered in September, remaining down 87% over the past five years.
The 'Hydrogen Acceleration Act' aims to hasten the development of hydrogen infrastructure in Germany. While the act has support from the BDEW, proposed funding cuts have raised concerns. Nel ASA's recent German partnerships and orders come amidst a challenging period for the company's stock performance.
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