Connect with us

Press Releases

Nel ASA: Second quarter 2020 financial results

OSLO, Norway, Aug. 26, 2020 /PRNewswire/ — Nel ASA (Nel) reported revenues of NOK 148.6 million in the second quarter of 2020, up from NOK 122.5 million in the same quarter of 2019 and an adjusted EBITDA of negative NOK 22.3 million. The order backlog grew 75% to over NOK one billion and…

Avatar

Published

on

OSLO, Norway, Aug. 26, 2020 /PRNewswire/ — Nel ASA (Nel) reported revenues of NOK 148.6 million in the second quarter of 2020, up from NOK 122.5 million in the same quarter of 2019 and an adjusted EBITDA of negative NOK 22.3 million. The order backlog grew 75% to over NOK one billion and the company holds more than NOK 2.5 billion in cash. Nel reiterates the long-term outlook. 

“We are relatively happy with the second quarter revenue growth and an all-time high order intake, despite the Covid-19 situation. The markets in which we operate continue to show high activity and growth momentum, in addition to good governmental interest for developing green energy infrastructure and industries post Covid-19. It seems like renewable hydrogen will play a vital role in The Green Deal that should contribute to Europe becoming the first carbon neutral continent in the world, and Nel aims to leverage on these opportunities going forward,” says Jon André Løkke, Chief Executive Officer of Nel.

Nel reported revenues in the second quarter of 2020 of NOK 148.6 million (122.5), up 21% from the corresponding quarter in 2019 and the adjusted EBITDA ended at NOK -22.3 million, adjusted for non-recurring and other ramp-up costs. The reported EBIT was NOK -72.0 million (-90.7), while the pre-tax income ended at NOK 594.3 million (-94.7) following the listing of Nikola Corporation (Nikola) and the corresponding positive fair value adjustment of Nel’s shareholding in Nikola. The backlog grew 75% to approximately NOK one billion.

During the second quarter of 2020, Nel completed a successful subsequent offering of gross NOK 127 million and completed a successful private placement raising NOK 1.3 billion, bringing the cash position to exceed NOK 2.5 billion.

“Nel targets to have a strong financing to execute on our strategic plans. The private placement and subsequent offering were both oversubscribed, showing a solid backing from our shareholders. We want to maintain and strengthen our leading position in a growing market through accelerated investments in technology and organization, and experience an increased importance of being a financially strong counterpart, especially for larger contracts,” Løkke comments.

Nel remains committed to the growth strategy, including the electrolyser manufacturing scale-up project at Herøya, Norway, where pre-engineering studies have revealed a potential for the nameplate capacity per production line to be around 500 MW/year compared to previous target at 360 MW/year, enabling a total potential of around 2 GW/year at the facility. Nel has also taken on additional employees and costs to prepare for future growth during the quarter and holds the workforce largely intact to maintain the momentum when the Covid-19 situation normalizes.

“The pandemic will most likely continue to negatively impact the general business environment for the rest of this year, but the Covid-19 situation also accelerates the adoption of green hydrogen and industrial hydrogen applications across Europe, and we are now preparing for that, both in terms of manufacturing capacity and organisation. We remain confident in the long-term potential for the industry and reiterate the strong outlook,” Løkke concludes.

EBITDA and other alternative performance measures (APMs) are defined and reconciled to the IFRS financial statements as a part of the APM section of the second quarter and half year 2020 report on page 22, as well as in the accompanying presentation page 6.

The second quarter and half year 2020 report and presentation are enclosed and available through www.newsweb.no (Ticker: NEL) and www.nelhydrogen.com. Nel will host an open investor presentation 08:00 CET at Skøyen Atrium, Askekroken 11, Oslo, Norway, and the presentation will be broadcasted live at www.nelhydrogen.com and can also be streamed at

https://channel.royalcast.com/webcast/hegnarmedia/20200826_1. The presenter will be Jon André Løkke, CEO, and the presentation will be held in English.

Please register by email to [email protected] for participation at the presentation at Skøyen Atrium. Due to Covid-19 restrictions, number of participants will be limited.

For further information, please contact:

Jon André Løkke
CEO, Nel ASA
+47-907-44-949

Bjørn Simonsen
VP Investor Relations & Corporate Communication
+47-971-79-821

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicle, without emissions.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/nel-asa/r/nel-asa–second-quarter-2020-financial-results,c3181244

The following files are available for download:

SOURCE NEL ASA

Source: https://www.prnewswire.com:443/news-releases/nel-asa-second-quarter-2020-financial-results-301118546.html

Continue Reading

Press Releases

Aliphatic Hydrocarbon Solvents & Thinners Market worth $4.3 billion by 2025 – Exclusive Report by MarketsandMarkets™

CHICAGO, Oct. 29, 2020 /PRNewswire/ — According to the new market research report “Aliphatic Hydrocarbon Solvents & Thinners Market by Type (Varnish Makers’& Painters’ Naphtha, Mineral Spirits, Hexane, Heptane, Paraffinic Solvent, Pentane, and Solvent 140), Application, Region – Global…

Avatar

Published

on

CHICAGO, Oct. 29, 2020 /PRNewswire/ — According to the new market research reportAliphatic Hydrocarbon Solvents & Thinners Market by Type (Varnish Makers’& Painters’ Naphtha, Mineral Spirits, Hexane, Heptane, Paraffinic Solvent, Pentane, and Solvent 140), Application, Region – Global Forecast to 2025″, published by MarketsandMarkets™, the market is projected to grow from USD 3.4 billion in 2020 to USD 4.3 billion by 2025, at a CAGR of 4.5% from 2020 to 2025.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=155300623

Browse in-depth TOC onAliphatic Hydrocarbon Solvents & Thinners Market

205 – Tables
44 – Figures
206 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/aliphatic-hydrocarbon-solvents-and-thinners-market-155300623.html

Increased demand for paints & coatings, which require aliphatic hydrocarbon solvents & thinners, from various end-use industries, such as decorative, automotive, and industrial, is one of the key factors driving the growth of the aliphatic hydrocarbon solvents & thinners market across the globe.

The paints & coatings segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both value and volume during the forecast period

Based on application, the paints & coatings segment of the aliphatic hydrocarbon solvents & thinners market is projected to grow at the highest CAGR from 2020 to 2025 in terms of both, value, and volume. Aliphatic hydrocarbon solvents & thinners are primarily used in the production of paints & coatings because the mix of solvents used in this industry are continually changing, and these satisfy increasing demands for enhanced performance. Increased demand for paints & coatings from various end-use industries, such as decorative, automotive, industrial, and protective paints & coatings, is driving the growth of the paints & coatings segment of the aliphatic hydrocarbon solvents & thinners market worldwide.

The varnish makers’ & painters’ naphtha segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both value and volume from 2020 to 2025

Based on type, the varnish makers’ & painters’ naphtha segment of the aliphatic hydrocarbon solvents & thinners market is projected to grow at a higher CAGR than all other segments during the forecast period in terms of both value and volume. Varnish makers’ & painters’ naphtha has a high number of applications wherein it can be used. It is used as a thinner for paints & coatings, as a solvent in hydrocarbon cracking, in laundry soaps, organic chemistry, cleaning fluids, and various other applications. It is also used to make varnish and to fuel camping cook stoves and lamps as well as to process fuels, such as gasoline and kerosene. A majority of the manufacturers across the globe produce aliphatic hydrocarbon solvents & thinners, which is a type of varnish makers’ & painters’ naphtha.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=155300623

The Aliphatic Hydrocarbon Solvents & Thinners Market in the Asia Pacific is projected to grow at the highest CAGR in terms of both value and volume during the forecast period

The aliphatic hydrocarbon solvents & thinners market in the Asia Pacific is projected to grow at the highest CAGR in terms of both value and volume from 2020 to 2025. China, India, Japan, and South Korea are key countries contributing to the increased demand for aliphatic hydrocarbon solvents & thinners in this region. Innovations in production techniques of electronic appliances, rise in population, and increase in the income of the middle-class population, have resulted in increased demand for consumer durables and automobiles in the Asia Pacific, thereby contributing to the growth of the aliphatic hydrocarbon solvents & thinners market in this region.

ExxonMobil Chemical, Inc. (US), SK Global Chemical Co., Ltd. (South Korea), Royal Dutch Shell Plc (Netherlands), Calumet Specialty Products Partners, L.P. (US), Gotham Industries (Canada), Gulf Chemicals and Industrial Oils Co. (Saudi Arabia), Recochem Inc. (Canada), HCS Group (Germany), W.M. Barr (US), Ganga Rasayanie (P) Ltd (India), NOCO Energy Corporation (US), Gadiv Petrochemical Industries Ltd. (Israel), Hunt Refining Company (US), Honeywell International Inc. (US), BASF SE (Germany), and LyondellBasell Industries Holdings B.V. (Netherlands) are some of the leading players operating in the aliphatic hydrocarbon solvents & thinners market.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=155300623

Browse Adjacent Markets: Chemical Market Research Reports & Consulting

Related Reports:

1.  Solvents Market

By Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), and Region – Global Forecast to 2025 2022

https://www.marketsandmarkets.com/Market-Reports/solvent-market-1325.html

2.  Reactive Diluents MARKET

By Reactive Diluents Market by Type (Aliphatic, Aromatic, Cycloaliphatic), Application (Paints & Coatings, Composites, Adhesives & Sealants), Region (APAC, North America, Europe, Middle East & Africa, South America) – Global Forecast to 2025

https://www.marketsandmarkets.com/Market-Reports/reactive-diluent-market-207557682.html

3.  GLASS & SPECIALTY SYNTHETIC FIBER MARKET

By Fiber Type (Glass, Carbon, Aramid, UHMWPE, PPS), Application (Composite, Non-Composite), End-Use Industry, And Region (North America, Europe, APAC, MEA, Latin America) – Global Forecast To 2024

https://www.marketsandmarkets.com/Market-Reports/specialty-synthetic-glass-fiber-market-39906130.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/aliphatic-hydrocarbon-solvents-and-thinners-market.asp
Visit Our Website: https://www.marketsandmarkets.com/ 
Content Source: https://www.marketsandmarkets.com/PressReleases/aliphatic-hydrocarbon-solvents-and-thinners.asp

SOURCE MarketsandMarkets

Source: https://www.prnewswire.com:443/news-releases/aliphatic-hydrocarbon-solvents–thinners-market-worth-4-3-billion-by-2025–exclusive-report-by-marketsandmarkets-301162624.html

Continue Reading

Press Releases

Achieve Life Sciences to Announce Third Quarter 2020 Financial Results and Host Conference Call and Webcast on November 12, 2020

SEATTLE and VANCOUVER, BC, Oct. 29, 2020 /PRNewswire/ — Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, today announced that it…

Avatar

Published

on

SEATTLE and VANCOUVER, BC, Oct. 29, 2020 /PRNewswire/ — Achieve Life Sciences, Inc. (Nasdaq: ACHV), a clinical-stage pharmaceutical company committed to the global development and commercialization of cytisinicline for smoking cessation and nicotine addiction, today announced that it will report its third quarter 2020 financial results and provide an update on the cytisinicline development program on Thursday, November 12, 2020 at 4:30PM ET.

To access the webcast, log on to the Investor Relations page of the Achieve website at http://ir.achievelifesciences.com/events-and-webcasts. Alternatively, you may access the live conference call by dialing (877) 472-9809 (U.S. & Canada) or (629) 228-0791 (International) and referencing conference ID 8047128. A webcast replay will be available approximately two hours after the call and will be archived on the website for 90 days. 

Achieve Contact 
Jason Wong 
[email protected]  
(415) 375-3340 ext. 4 

SOURCE Achieve Life Sciences, Inc.

Related Links

www.achievelifesciences.com

Source: https://www.prnewswire.com:443/news-releases/achieve-life-sciences-to-announce-third-quarter-2020-financial-results-and-host-conference-call-and-webcast-on-november-12-2020-301162254.html

Continue Reading

Press Releases

Call it what you want, digital transformation is still fundamentally human, IFS study finds

LONDON, Oct. 29, 2020 /PRNewswire/ — The human factor is widely recognized as an essential component to digital transformation success. In fact, over a quarter (27 percent) of companies acknowledge that despite being key, people are often overlooked when planning and executing…

Avatar

Published

on

LONDON, Oct. 29, 2020 /PRNewswire/ — The human factor is widely recognized as an essential component to digital transformation success. In fact, over a quarter (27 percent) of companies acknowledge that despite being key, people are often overlooked when planning and executing transformative projects, according to a research study from global enterprise applications company IFS.

The study goes on to identify poor change management as one of the key reasons digital transformation projects fail. When implementing new digital transformation projects, businesses are focused on implementing the key technology and solutions but aren’t considering the importance of staff buy-in and acceptance of the project, which is intrinsically linked to its overall success.

 When asked about the reasons for failure in past projects, businesses also cited lack of employee engagement among the top four reasons. In addition, respondents named past experiences of low employee buy-in as one of the top two reasons for hesitating to launch new digital transformation projects. This can potentially have a great impact on the overall development of a business, as in times of downturn many believe innovation is the key to business resilience.

The broad focus on people-related considerations among companies goes hand in hand with a widely held concern for soft values such as vendor culture and ethics, which was revealed by a previous IFS study

Although one third of respondents identified involving the human resources (HR) department from the beginning to ensure employee awareness as key to digital transformation success, one quarter of companies admitted that they have been guilty of not doing so in the past. Furthermore, 21 percent of companies expressed that employee engagement is more of a “tick-box” exercise, as opposed to being critical for success, revealing an obvious mismatch between recognition and actual execution.

From an HR perspective, there is ample proof that digital transformation makes good business sense. 29 percent of respondents stated that employee retention would be higher if the business could offer more exciting technology to its people, indicating that technology does have employee retention possibilities. Furthermore, 39 percent said that technology provides the ideal opportunity to retrain and upskill existing staff, thereby bridging the skills gap that is a major pain point in many industries. 

“Through continuous dialog with our customers as well as first-hand experiences from our own digital transformation, we have always known that people can act as both an enabler and a barrier in transformation projects,” IFS Chief Human Resources Officer Jane Keith said. “This report drives home the point that if digital transformation is kept human centric and if change management is handled effectively and employees are aware and inspired to support the transformation, the business is much more likely to reap success. Staff involvement should not be seen as a just a tick-box exercise but as the secret sauce that will ultimately determine the outcome.”

Download a complimentary copy of Digital Transformation Investment in 2020 and Beyond: The Undeniable People Factor.

About the survey

The study is based on responses from 3,032 executives in the UK, the US, Australia, France, Germany, and the Nordics. Respondents represent a broad industry scope, including manufacturing, construction, healthcare, IT/Telco, energy & utilities, and travel & transport. Data was collected between April 8-May 5, 2020, by Censuswide.

CONTACT:

Natalie Sutton
IFS Head of External Communications.
Phone: +44-(0)1784-278222
[email protected]

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/ifs/r/call-it-what-you-want–digital-transformation-is-still-fundamentally-human–ifs-study-finds,c3222043

The following files are available for download:

SOURCE IFS

Source: https://www.prnewswire.com:443/news-releases/call-it-what-you-want-digital-transformation-is-still-fundamentally-human-ifs-study-finds-301162669.html

Continue Reading
Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Blockchain1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Saas1 hour ago

Press Releases1 hour ago

Achieve Life Sciences to Announce Third Quarter 2020 Financial Results and Host Conference Call and Webcast on November 12, 2020

Press Releases1 hour ago

Aliphatic Hydrocarbon Solvents & Thinners Market worth $4.3 billion by 2025 – Exclusive Report by MarketsandMarkets™

Press Releases1 hour ago

Call it what you want, digital transformation is still fundamentally human, IFS study finds

Press Releases1 hour ago

Breathonix announces 60 secs, on-site, non-intrusive rapid breath test for COVID-19

Blockchain2 hours ago

DeFi Lending Protocol Aave Passes Off Governance to Community

Blockchain2 hours ago

Keep3r Network Token Pumps 3,000% after DeFi Farmers FOMO into Launch

Press Releases2 hours ago

Injectafer Allegedly Linked to Life-Threatening Side Effect: The Law Offices of James Scott Farrin Prepares for Legal Battle on Users’ Behalf

Private Equity2 hours ago

Demand for central London office space sinks as thousands of staff work from home

Blockchain2 hours ago

Ethereum, Stellar Lumens, Zcash Price Analysis: 29 October

Press Releases2 hours ago

Integrated Resource Planning and Task Tracking SaaS Platform

Press Releases2 hours ago

Sparks Group Celebrates 50 Years: A Half Century of Connecting Great Talent to Great Companies

Private Equity2 hours ago

BlackRock wants global standards for sustainability reporting

Blockchain2 hours ago

Total Cryptocurrency Marketcap Rapidly Outperforming the Altcoin Market Cap

Private Equity3 hours ago

Comment: Don’t overestimate the coronavirus recovery

Blockchain3 hours ago

BlackRock Downgrades US Treasuries; What It Means for Bitcoin?

Press Releases3 hours ago

North Texas Property Management Announces Update to Information Page on Residential Property Management in Plano, Allen, and Carrollton

Press Releases3 hours ago

Crown Uniform and Linen Announces New Post on Rhode Island Linen Service Offerings

Press Releases3 hours ago

CT Scanner Market Revenue to Cross USD 8.7 Bn by 2026: Global Market Insights, Inc.

Blockchain3 hours ago

Mastercard CEO Sides with CBDCs over Bitcoin to Help the Unbanked

Press Releases3 hours ago

Nancy Juetten Debuts New Website and Offerings to Guide Virtual Speakers to Get Known and Get Paid

Trending