Reference made to the stock exchange notice by Nel ASA, where Nel and Hy Stor Energy signed a capacity reservation agreement for more than 1 GW of alkaline electrolyzer equipment. Hy Stor Energy has now decided to terminate the agreement.

In line with Nel’s accounting standards, the capacity reservation was not considered order intake, hence the cancellation will not impact the order backlog. Nel will retain the non-refundable capacity reservation fee.