EC approves hydrogen industry support project

The European Commission today approved a project to support the hydrogen industry. The project is expected to be worth up to €5.2 billion, and the funds will be used for research, innovation and first industrial applications and the construction of the relevant hydrogen technology infrastructure. 

Nearly 30 companies, medium and small size, as well as start-ups, are expected to participate in the project.

The news is good for today's hydrogen company listings, in particular the Norwegian-listed NEL (NEL.NO), which is also participating in the said project. Nel (NEL.NO) is a Norwegian hydrogen infrastructure and technology company and the world's largest producer of electrolyzers.

We wrote more extensively about the company itself here. 

NEL (NEL.NO) stock chart, D1 interval. Source: xStation5