Nel & Cavendish Hydrogen

Spin-off of Nel Hydrogen’s Fueling division into Cavendish Hydrogen and subsequent listing on the Oslo Stock Exchange

Carnegie Investment Bank is proud to have acted as Global Coordinator in connection with the spin-off of Nel’s Fueling division into Cavendish Hydrogen ASA and subsequent listing on the Oslo Stock Exchange. The shares in Cavendish were distributed as a dividend-in-kind where shareholders in Nel ASA received one Cavendish share for every 50 shares held in Nel ASA.

Cavendish Hydrogen is a leading hydrogen fueling company that specializes in the development, production, marketing, sales, and service of equipment for fueling hydrogen into on-road vehicles. The company operates globally with offices in Denmark, California (the U.S), South Korea and Austria. The ongoing focus of the company is to develop its product portfolio to meet the expected market expansion for long-distance heavy-duty trucking.

Carnegie thanks both Nel & Cavendish Hydrogen for the vote of confidence, and we look forward to continuing our support of Nel and Cavendish Hydrogen going forward.