NEL ASA

Operating

Nel Hydrogen | Proven technology. Trusted partner.

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy.

Å, direkte eller indirekte, gjennom investeringer eller eierskap, å drive virksomhet tilknyttet produksjon og salg av hydrogenanlegg og/eller andre hydrogenrelaterte produkter eller tjenester, eller tilknyttede aktiviteter.

Direkte eller indirekte, gjennom investeringer eller eierskap, å drive virksomhet tilknyttet produksjon og salg av hydrogenanlegg og/eller andre hydrogenrelaterte produkter eller tjenester, eller tilknyttede aktiviteter.

Keywords

manufacturingdrying machineswoodpulppaper and cardboardprinting machinesbookbinding machinesroof tilesbricksceramic masspipesgraphite electrodesblackboard chalksemiconductorsuniversal industrial robotsspecial machinesisotope separationtire tracking equipmentbalancing equipmentsolariumsbowling alleyscarouselsswingsshooting ranges

Organization

CEO: HR
Håkon Rypern Volldal1976
Chairman of the board: AM
Arvid Moss1958
Years since formation: 28 years; since Aug 26, 1998
Type: Public limited company
VAT registered: Yes
Number of employees: 24

Ownership

Number of shares and share classes: 1,838,457,834; 1 share class
Total number of shareholders: 21456; 426 companies, 21,030 persons
Belongs to group of

Financials

Total operating income 2025: 103,455,000; NOK
Annual total result 2025: -758,311,000; NOK
Total equity 2025: 5,445,241,000; NOK

Last update: Oct 13, 2026

Management

Management / administration

Name	Role	Shares
HR Håkon Rypern Volldal 1976	Managing Director/CEO	-

Board

Name	Role	Shares
AM Arvid Moss 1958	Chairman	-
HL Hanne Legardt Blume Levy 1968	Board Member	-
BM Beatriz Malo De Molina Laborde 1972	Board Member	-
AC Anna Charlotta Falvin 1966	Board Member	-
JB Jens Bjørn Staff 1967	Board Member	-
GY Gyu Yeon Kang 1965	Board Member	-
HE Hans Erik Vatne 1968	Board Member	-

Others

Name	Role	Shares
E ERNST & YOUNG AS	Auditor	-

Last update: Apr 29, 2026

Ownership

Company shareholders

Name	Share class	Total number of shares	Share
E ELMO HOLDING AS	Ordinary shares	1,700,000	0.09 %
R RAD HOLDING AS	Ordinary shares	1,700,000	0.09 %
IS Inge Sellesbakk Svenn 1971	Ordinary shares	1,500,000	0.08 %
N NORDNET LIVSFORSIKRING AS	Ordinary shares	1,487,507	0.08 %
MH Morten Hopen Pål 1967	Ordinary shares	1,401,478	0.08 %
L LMS HOLDCO AS	Ordinary shares	1,300,000	0.07 %
V VIASOFT AS	Ordinary shares	1,166,586	0.06 %
AS Andre Sæterstøen Bjarne 1974	Ordinary shares	1,050,000	0.06 %
K KAMI HOLDING AS	Ordinary shares	812,321	0.04 %
EI Erik Isaksen Jan 1967	Ordinary shares	700,002	0.04 %
MG Martin Garshol Jens 1968	Ordinary shares	668,000	0.04 %
IM Inge Misund Karsten 1948	Ordinary shares	628,937	0.03 %
NT Nagatsuka Toru 1942	Ordinary shares	500,000	0.03 %
SK Skaugrud Knut 1946	Ordinary shares	500,000	0.03 %
H HØGDA AS	Ordinary shares	473,000	0.03 %
N NEL ASA	Ordinary shares	418,033	0.02 %
AD André Dahl Robert 1980	Ordinary shares	413,056	0.02 %
B BRANDT INVEST AS	Ordinary shares	408,379	0.02 %
BK Bringa Kaare 1949	Ordinary shares	400,652	0.02 %
SS Szczepan Sitek Ryszard 1936	Ordinary shares	400,000	0.02 %
MD Meaas Dag 1964	Ordinary shares	400,000	0.02 %
VI Vincenc Ing Branislav 1974	Ordinary shares	370,000	0.02 %
OE Olai Eiternes Anders 1970	Ordinary shares	369,816	0.02 %
HH Helge Hatland Jens 1956	Ordinary shares	365,090	0.02 %
AI Arne Iversen Bengt 1969	Ordinary shares	365,000	0.02 %
SH Skaale Helge 1970	Ordinary shares	347,813	0.02 %
N NIMA INVEST AS	Ordinary shares	331,855	0.02 %
RG Rasmussen Gunnar 1949	Ordinary shares	325,000	0.02 %
KL Kahrs Larsen Ronny 1961	Ordinary shares	320,296	0.02 %
MS Markus Solheim Lars 1981	Ordinary shares	318,120	0.02 %
HB Halvor Breivik Svein 1945	Ordinary shares	304,700	0.02 %
S STANDARD ELEKTRO AS	Ordinary shares	300,000	0.02 %
JR Johansen Reidar 1974	Ordinary shares	300,000	0.02 %
MM M Mamun Ar Rashid S 1978	Ordinary shares	300,000	0.02 %
PR Pettersen Rolf 1946	Ordinary shares	300,000	0.02 %
M MERAS PROPERTY AS	Ordinary shares	280,000	0.02 %
RD Rødahl Dybsjord Reidun 1932	Ordinary shares	269,700	< 0.01 %
NN Narve Nes Kjell 1968	Ordinary shares	262,281	< 0.01 %
PH Phat Huynh Thien 1963	Ordinary shares	260,000	< 0.01 %
OH Ottesen Hans 1960	Ordinary shares	250,000	< 0.01 %
RP Robert Potterton Michael 1960	Ordinary shares	241,828	< 0.01 %
K KNUTSHAUG INVEST AS	Ordinary shares	237,439	< 0.01 %
FD Faria De Carvalho Tiago 1972	Ordinary shares	233,340	< 0.01 %
SK Satguneswaralingam Kavithas 1987	Ordinary shares	232,600	< 0.01 %
BL Brendemo Linda 1956	Ordinary shares	228,644	< 0.01 %
MB Mustofa Bisri 1976	Ordinary shares	225,950	< 0.01 %
AV Albert Van Der Heijden Willem 1939	Ordinary shares	225,000	< 0.01 %
GG Gunnar Gjøstøl Hans 1957	Ordinary shares	222,500	< 0.01 %
HK Haugen Kristen 1958	Ordinary shares	216,000	< 0.01 %
U UNNE INVEST AS	Ordinary shares	208,680	< 0.01 %
OW Omarhaug Wang Kristian 1992	Ordinary shares	202,500	< 0.01 %
MO Martin Oddekalv Steinar 1955	Ordinary shares	202,431	< 0.01 %
HJ Hovden Jon 1956	Ordinary shares	200,002	< 0.01 %
WH Wiktor Hind Karl 1946	Ordinary shares	200,000	< 0.01 %
S SØRLIA HOLDING AS	Ordinary shares	200,000	< 0.01 %
AV Andre Vedvik Tor 1971	Ordinary shares	200,000	< 0.01 %
LR Louis Rochette Erik 1973	Ordinary shares	200,000	< 0.01 %
TØ Tayyar Øncy Fikret 1953	Ordinary shares	200,000	< 0.01 %
H HONGI INVEST AS	Ordinary shares	196,281	< 0.01 %
GG Gebrehiwot Gebreab Helen 1985	Ordinary shares	196,001	< 0.01 %
EE Erik Evjen Jan 1967	Ordinary shares	193,000	< 0.01 %
AM Aakre Marcus 1993	Ordinary shares	191,500	< 0.01 %
RS Rahman Suleiman Adnan 1964	Ordinary shares	188,500	< 0.01 %
MØ Mariana Øya Lillian 1961	Ordinary shares	187,011	< 0.01 %
ØK Øvreeide Kathrine 1993	Ordinary shares	185,242	< 0.01 %
LD Li Dragland Erle 1957	Ordinary shares	185,210	< 0.01 %
KL Kannegaard Lisbeth 1946	Ordinary shares	185,000	< 0.01 %
HR Holger Rudberg Erik 1956	Ordinary shares	181,000	< 0.01 %
HM Halland Marcus 1982	Ordinary shares	180,000	< 0.01 %
KA Kåre Aasebø Magnar 1956	Ordinary shares	180,000	< 0.01 %
HO Hodnekvam Oddmund 1950	Ordinary shares	173,000	< 0.01 %
HK Henriksen Kaasa Hilde 1951	Ordinary shares	167,297	< 0.01 %
SL Salvesen Lilleengen Erik 1976	Ordinary shares	167,205	< 0.01 %
EB Eduardo Barrera Lopez Pedro 1981	Ordinary shares	165,000	< 0.01 %
FP Furre Panawan 1974	Ordinary shares	163,144	< 0.01 %
BR Berg Robert 1981	Ordinary shares	160,315	< 0.01 %
HH Helge Hjellegjerde Otto 1949	Ordinary shares	160,071	< 0.01 %
GT Gebre Tsegay Biniam 1979	Ordinary shares	160,001	< 0.01 %
RS Rene Spangen Burgos Dag 1966	Ordinary shares	154,825	< 0.01 %
A AHLBOM HOLDING AS	Ordinary shares	151,898	< 0.01 %
VS Verma Shashi 1962	Ordinary shares	151,292	< 0.01 %
VI Vikse Idar 1965	Ordinary shares	151,000	< 0.01 %
KT Krognes Torgeir 1970	Ordinary shares	150,000	< 0.01 %
HG H Gjernes Olav 1936	Ordinary shares	150,000	< 0.01 %
JJ Johan Jensen Paul 1976	Ordinary shares	150,000	< 0.01 %
JB Johny Bergstrøm Ragnar 1943	Ordinary shares	150,000	< 0.01 %
KM Kiarkhi Mila 1981	Ordinary shares	150,000	< 0.01 %
N NUORA HOLDING AS	Ordinary shares	150,000	< 0.01 %
CJ Cai Jin 1983	Ordinary shares	150,000	< 0.01 %
AD Andreas Duun Roald 1952	Ordinary shares	150,000	< 0.01 %
SP Skjelbostad Per 1929	Ordinary shares	150,000	< 0.01 %
F FLYLAND HOLDING AS	Ordinary shares	150,000	< 0.01 %
EO Enger Ole 1948	Ordinary shares	149,462	< 0.01 %
KB Kolbein Børresen Atle 1963	Ordinary shares	144,411	< 0.01 %
SM Strømsnes Martin 1984	Ordinary shares	143,714	< 0.01 %
FM Fossli Martin 1951	Ordinary shares	141,685	< 0.01 %
SS Sigbjørn Skjønhaug Malvin 1944	Ordinary shares	140,000	< 0.01 %
HA Horpestad Andreas 1943	Ordinary shares	140,000	< 0.01 %
AM Aasmund Meyer Jarle 1955	Ordinary shares	140,000	< 0.01 %
TM Torgersen Morten 1977	Ordinary shares	137,640	< 0.01 %

Shares owned by the NEL ASA

Name	Share class	Total number of shares	Share
N NEL HYDROGEN ELECTROLYSER AS	Ordinary shares	10,000	100 %
N NEL FUEL AS	Ordinary shares	30,000	100 %
N NEL ASA	Ordinary shares	418,033	0.02 %

Last update: Sep 25, 2026

Group structure

NEL ASA
Total operating income 2025: NOK 103,455,000
Operating profit 2025: NOK -38,915,000
Employees: 24

Financials

in NOK

Summary

Year	2025	2024	2023	2022	2021
Total operating income	103,455,000	105,588,000	79,767,000	89,947,000	75,649,000
Annual Total Result	-758,311,000	-710,568,000	-6,952,000	-1,451,944,000	-24,456,000
Total assets	5,725,133,000	6,119,526,000	7,784,776,000	6,125,950,000	6,017,742,000
Total liabilities	279,892,000	267,196,000	162,070,000	84,958,000	55,591,000
Total equity	5,445,241,000	5,852,330,000	7,622,706,000	6,040,992,000	5,962,151,000

P&L

Year	2025	2024	2023	2022	2021
Total operating income	103,455,000	105,588,000	79,767,000	89,947,000	75,649,000
Total operating costs	142,370,000	145,097,000	124,053,000	129,784,000	96,728,000
Operating result	-38,915,000	-39,509,000	-44,286,000	-39,837,000	-21,079,000
Financial income/costs	-704,748,000	-671,059,000	37,334,000	-1,412,107,000	-3,377,000
Profit before tax	-743,663,000	-710,568,000	-6,952,000	-1,451,944,000	-24,456,000
Total tax & extraordinary income/cost	14,648,000	0	0	0	0
Annual Total Result	-758,311,000	-710,568,000	-6,952,000	-1,451,944,000	-24,456,000

Balance overview

Year	2025	2024	2023	2022	2021
Total fixed assets	3,941,291,000	4,030,189,000	4,371,816,000	2,965,521,000	3,271,530,000
Total current assets	1,783,842,000	2,089,337,000	3,412,960,000	3,160,429,000	2,746,212,000
Total assets	5,725,133,000	6,119,526,000	7,784,776,000	6,125,950,000	6,017,742,000
Short term debt	146,593,000	76,642,000	82,598,000	57,046,000	46,889,000
Long term debt	133,299,000	190,554,000	79,472,000	27,912,000	8,702,000
Total liabilities	279,892,000	267,196,000	162,070,000	84,958,000	55,591,000
Contributed capital	8,352,611,000	8,001,388,000	9,061,197,000	7,472,530,000	5,941,746,000
Retained earnings	-2,907,370,000	-2,149,058,000	-1,438,491,000	-1,431,538,000	20,405,000
Total equity	5,445,241,000	5,852,330,000	7,622,706,000	6,040,992,000	5,962,151,000
Total equity and liabilities	5,725,133,000	6,119,526,000	7,784,776,000	6,125,950,000	6,017,742,000

Classification

21st company classification

BETA

Industrial large enterprise

NEL ASA979 938 799

NEL ASA

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Organization

Ownership

Financials

Management

Management / administration

Board

Others

Ownership

Company shareholders

Shares owned by the NEL ASA

Group structure

Financials

Summary

P&L

Balance overview

Classification