Nel ASA stock reports new submarine orders from Collins Aerospace

Published on 09/30/2026 at 13:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nel ASA stock is tied to USD 20 million in Collins Aerospace submarine orders booked in Q3 2026. Q2 revenue fell 12 percent to NOK 153 million.

NEL ASA, NO0010081235, Illustration mit AI erstellt.

Nel ASA stock (ISIN NO0010081235) was trading at EUR 0.19 at Lang & Schwarz on September 30, 2026 at 1:14 p.m. CEST, unchanged from the EUR 0.19 prior close. The company has secured additional Collins Aerospace orders that lift submarine-related order intake to USD 20 million in Q3 2026, according to Yahoo Finance.

Submarine orders reach USD 20 million

The additional orders are worth USD 7 million and cover PEM electrolyser stacks used in life-support systems for submarine programs in the United States, the United Kingdom and France. Together with a USD 12 million Collins Aerospace order announced on September 29, 2026, and smaller orders earlier in September, the submarine-related total reaches USD 20 million.

All of the orders will be booked as order intake in Q3 2026, while deliveries are scheduled for 2027 and 2028. The stacks will be manufactured at Nel's facility in Wallingford, Connecticut, giving the order announcement a defined production location and delivery timetable.

Q2 loss keeps pressure high

The order momentum contrasts with a difficult latest reported quarter. In Q2 2026, revenue fell 12 percent to NOK 153 million, EBITDA was negative NOK 155 million and the net loss reached NOK 189 million, according to TickerGuard.

The same Q2 2026 review puts order intake at NOK 230 million and unrestricted cash at NOK 1,328 million on June 30, 2026. That combination frames the investment case clearly: new PEM demand is arriving, but the operating business is still loss-making and revenue remains below the prior-year level.

Oslo listing anchors the stock

Nel's investor-relations page states that its shares are listed on the Oslo Stock Exchange under ticker NEL, while the company specializes in PEM and alkaline electrolyser technology, according to Nel. The current order intake therefore adds a concrete defense-related application to the company's established hydrogen technology portfolio.

Stock holds at EUR 0.19

At Lang & Schwarz, Nel ASA stock was trading at EUR 0.19 on September 30, 2026 at 1:14 p.m. CEST, with a 0.00 percent change versus the EUR 0.19 prior close of September 29, 2026. The unchanged euro quote leaves the USD 20 million order intake and the NOK 153 million quarterly revenue decline as the clearest competing signals for investors.