FEOC
All Manufacturers

Nel ASA

Clean
🇳🇴 NorwayOslo, NorwayHydrogen & ElectrolyzersPublic (OSE: NEL)

Last verified: 2026-04-01

Risk Summary
Country RiskLowHQ in Norway (allied nation)
Entity List ExposureLowNot on any lists
Ownership RiskLowPublic (OSE: NEL)
Domestic AlternativeLow8 allied/US options available

Entity List Screening

ListAgencyStatusYear
BIS Entity ListBureau of Industry and SecurityNot Listed2026
OFAC SDN ListOffice of Foreign Assets ControlNot Listed2026
DOD Section 1260HDepartment of DefenseNot Listed2026
UFLPA Entity ListCustoms and Border ProtectionNot Listed2026
SEC DisclosuresSecurities and Exchange CommissionNot Listed2026
IRS FEOC GuidanceInternal Revenue ServiceNot Listed2026

Ownership Structure

Publicly held (no controlling shareholder)
🇳🇴 NorwayIndividual / Shareholder
Nel ASA
🇳🇴 NorwayManufacturer

Source: SEC filings, stock exchange disclosures, corporate registry data. Ownership percentages reflect most recent available disclosure.

Compliance Assessment

Norwegian-headquartered. Norway is an allied nation. No FEOC ownership concerns.

Key Factors

  • Headquartered in Norway, an allied nation
  • Ownership: Public (OSE: NEL)
  • Has confirmed US domestic manufacturing operations
  • Not listed on any federal entity lists
  • Norwegian hydrogen technology company. One of the world's largest electrolyzer manufacturers.

Products & Equipment

PEM electrolyzersAlkaline electrolyzersHydrogen fueling stations

Domestic manufacturing confirmed

Electrolyzer manufacturing facility in Wallingford, Connecticut.

Other Manufacturers in Hydrogen & Electrolyzers

All manufacturers in this product category

Plug PowerClean
🇺🇸 United StatesUS Mfg
ITM PowerClean
🇬🇧 United Kingdom
Bloom EnergyClean
🇺🇸 United StatesUS Mfg
Accelera by CumminsClean
🇺🇸 United StatesUS Mfg
thyssenkrupp nuceraClean
🇩🇪 Germany
Siemens Energy (Hydrogen)Clean
🇩🇪 Germany
LONGi HydrogenFlagged
🇨🇳 China
Sunfire GmbHClean
🇩🇪 Germany

Data Sources

  • Nel ASA Annual Report
  • BIS Consolidated Screening List

This information is for reference only and does not constitute legal advice. Compliance determinations should be verified with qualified legal counsel. Entity list data is sourced from publicly available federal databases and may not reflect the most recent updates.