Nel ASA - NLLSF stock
OTC Market: NLLSF
Nel ASA, a hydrogen-focused company, offers diverse solutions for renewable hydrogen production, storage, and distribution in both domestic and international markets, operating through two segments: Nel Hydrogen Fueling, which manufactures H2Station hydrogen fueling stations catering to fuel cell electric vehicles like cars, buses, trucks, and more; and Nel Hydrogen Electrolyser, providing hydrogen production equipment based on alkaline and proton exchange membrane water electrolysis technology to serve industry, energy, and gas companies. The company was originally known as DiaGenic ASA and later changed its name to Nel ASA in October 2014, with its founding dating back to 1927, and its headquarters located in Oslo, Norway.
Nel ASA, formerly known as DiaGenic ASA, has its origins in Norway and has undergone several transformations to become the hydrogen-focused company it is today.
The company's roots can be traced back to 1927 when it was founded as Norsk Elektrisk & Brown Boveri AS (NEBB). NEBB initially operated as an electrical engineering and equipment manufacturing company. Over the years, the company went through various changes, mergers, and acquisitions. In 2007, DiaGenic ASA was established as a spin-off from Nycomed Imaging AS, a subsidiary of the Norwegian pharmaceutical company Nycomed. DiaGenic ASA focused on developing and commercializing molecular diagnostic tests for various diseases, including Alzheimer's disease and breast cancer.
In October 2014, DiaGenic ASA underwent a significant transformation when it changed its name to Nel ASA and shifted its business focus to hydrogen solutions. The name "Nel" is derived from Norsk Elektrolyse, which translates to "Norwegian Electrolysis" in English, reflecting the company's emphasis on electrolysis-based hydrogen production technologies.
After the name change, Nel ASA began its journey as a hydrogen company, focusing on providing solutions for the production, storage, and distribution of hydrogen from renewable energy sources. The company expanded its product offerings to include hydrogen fueling stations (H2Station) for fuel cell electric vehicles and hydrogen production equipment based on both alkaline and proton exchange membrane water electrolysis technology.