Plunging electrolyser orders signal more pain for green hydrogen
If technology demand is a leading indicator, the industry’s recent downturn has further to go
European electrolyser manufacturers have reported sharply lower order intake for the latest quarter, a trend that implies the recent slowdown in the green hydrogen sector has yet to run its course. Norwegian company Nel saw second-quarter order intake fall by 74% year-on-year, while its order backlog contracted by 40% year-on-year and by 14% from the previous quarter. “The fact that we are working on an increasing number of FEED studies with strong industrial counterparties, coupled with a more favourable policy outlook in both the EU and the US, suggests the worst may be behind us, although the timing of a market uptick remains difficult to predict,” said Hakon Volldal, president and CEO of
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