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  7. Nel Hydrogen
Company logo

Nel Hydrogen | Sustainability Performance

https://nelhydrogen.com
Linkedin

Engaged in the hydrogen production industry, this company develops technologies for the generation of hydrogen through electrolysis. It aims to contribute to the shift towards sustainable energy solutions and lower carbon emissions.

1927

Norway

201 - 500 employees

Renewables & Environment

$25M - 100M in revenue

Not profitable

Submit or report inaccurate dataDownload Company Insights

Sustainability Ranking & Industry Benchmark

#10594
Overall
#185
in Norway
#145
in Renewables & Environment

Sustainability Maturity

​​0123456789​​%

Sustainability Intent

Available in
Scale package

Access
​​0123456789​​%

Industry Rank

123 out of 192

Overview
Governance
TargetsESG scores and Exclusions
Financial Data
Business performanceCapital & innovationAnalyst projections

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Market cap

38.3B $, 2026▲0.2% YoY

Revenue

92.7M $, 2025▼44.2% YoY

R&D intensity

4.36% 2025

Controversy level


Very Low
Low
Noticeable
High
Severe
Download Controversy Analysis
  • Nel's hydrogen fueling station in Sandvika, Norway exploded in June 2019, injuring two people and leading to a temporary shutdown of hydrogen stations nationwide.
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Market cap

38.3B $, 2026▲0.2% YoY

Revenue

92.7M $, FY2025▼44.2% YoY

EBITDA

-131.3M $, FY2025▼9.1% YoY

Operating margin

-142% Industry: -52▲80.2% YoY

Revenue & EBITDA

$92.7MFY2025 revenue

Total Annual
Revenue & EBITDA
($ B)

Annual revenue
EBITDA
3 year change
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Margin trends


Margin as % of revenue

Gross margin
Operating margin
Net margin

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Free cashflow

-88.7M 2024▼52.9% YoY

Capex

65.4M 2024▼8.7% YoY

Debt/equity ratio

0.1 Industry: 1▼NaN% YoY

R&D intensity

4.4%FY2025

R&D as % of revenue

Return on invested capital (ROIC)
Industry benchmark

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Return on invested capital

-31.0%FY2026

Return on invested capital (ROIC)
Industry benchmark

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Analyst revenue estimates & actuals


Analyst consensus vs actuals
($ B)

Actual revenue
Consensus estimates
Estimate only

0.1

▼ 18.6%

2023

0.1

▼ 8.3%

2024

0.1

▼ 1.0%

2025

5.2

2029

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Sustainability targets and commitments

TargetYearValueScopeBaseline

Progress against targets

Environmental policy coverage

Carbon reduction policy

Available

Human rights policy

Available

Recycling policy

Available

Workplace health & safety policy

Available

40%
Independent Directors

6 out of 15 incl. management

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Overall score

59

Environment

63

Social

62

Governance

52

Exclusion screening

Adult content

Not available

Alcoholic

Not available

Animal testing

Not available

Firearms

Not available

Tobacco

Not available

Gambling

Not available

Nuclear

Not available

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Reporting

sustainability report symbol

Sustainability Report

Available

Sustainability employees


Total sustainability employees

2-3


    Available in
    Scale package

    Access
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