Nel ASA appoints Morten Holum as CEO: Nel ASA stock has NOK 3.7 billion value

Published on 10/27/2026 at 13:19 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nel ASA names Morten Holum CEO on October 22, 2026. Nel ASA stock costs EUR 0.19 on October 27, 2026 at a NOK 3.7 billion market value.

Operational signals and dates

Nel ASA appointed Morten Holum as CEO on October 22, 2026, with a start date no later than May 1, 2027.
Third-quarter revenue from customer contracts was NOK 112 million, while order intake reached NOK 253 million.
Nel ASA stock trades at EUR 0.19 at 1:12 p.m. CEST at Lang & Schwarz on October 27, 2026.

NEL ASA, NO0010081235, Illustration mit AI erstellt.

Nel ASA (ISIN NO0010081235) had a market capitalization of NOK 3.7 billion on October 27, 2026, as leadership changes followed a difficult third quarter. Energynews.pro reported on October 22, 2026, that Nel had appointed Morten Holum as chief executive officer, with the new CEO due to start no later than May 1, 2027.

Leadership changes on October 22

Chief Financial Officer Kjell Christian Bjørnsen is due to become interim CEO on November 1, 2026, while Holum succeeds Håkon Volldal. The transition puts execution at the center of the investment case because the company must convert a stronger order book into delivered revenue.

Nel's shares are listed on the Oslo Stock Exchange under ticker NEL, according to the company's investor-relations page. The company develops PEM and alkaline electrolyzer systems for renewable hydrogen production.

What does the quarter mean for execution?

Nel reported third-quarter 2026 revenue from customer contracts of NOK 112 million, down 63 percent from NOK 303 million a year earlier. At the same time, order intake rose to NOK 253 million, up 339 percent year over year, and the order backlog reached NOK 1,314 million, up 34 percent.

The split between technologies is material. PEM revenue increased 65 percent to NOK 89 million in the third quarter of 2026, while alkaline revenue fell 91 percent to NOK 23 million. Inderes reported that the group posted EBITDA of negative NOK 93 million and a net loss of NOK 141 million for the quarter.

Upcoming dates for Nel

The interim CEO handover is scheduled for November 1, 2026, and Nel's next annual report is listed for February 19, 2027, on its investor-relations calendar. The company has also said that it does not yet pay dividends from ongoing earnings.

On Oslo Bors, the stock was last quoted at NOK 2.00 at 1:54 p.m. CEST on October 27, 2026. The analyst picture remained cautious: MarketScreener listed 12 analysts, an average target of NOK 2.164 and an underperform consensus on October 27, 2026.

Trading picture for German investors

For German investors, the euro quotation remains near the EUR 0.20 threshold while the operating data point in two directions: order intake and PEM demand improved, but group revenue and earnings stayed under pressure.

Nel ASA stock was trading at EUR 0.19 at Lang & Schwarz on October 27, 2026 at 1:12 p.m. CEST.

The further course of trading is shown by the continuously updated real-time quote of Nel ASA stock.