Nel ASA

Regulatory Filings • Feb 6, 2023

Nel ASA: Receives purchase order for 40 MW electrolyser equipment from HyCC

Nel ASA: Receives purchase order for 40 MW electrolyser equipment from HyCC

(February 6, 2023 - Oslo, Norway) Nel Hydrogen Electrolyser AS, a subsidiary of

Nel ASA (Nel, OSE:NEL), has signed a contract for 40 MW of alkaline electrolyser

equipment for about EUR 12 million with HyCC for its H2eron project in Delfzijl,

Netherlands. Kraftanlagen Energies & Services has been contracted for the FEED

study related to the project.

SkyNRG will use the hydrogen to produce sustainable aviation fuel (SAF), made

from industrial byproducts and residue streams, such as used cooking oil. HyCC

recently received the environmental permit for the project, and the company is

working towards a final investment decision (FID) in 2024, in close alignment

with SkyNRG and its partners.

"H\2\eron will have a great positive impact on emission reductions from the

aviation sector, and we are proud to be selected as the supplier of our well

-proven electrolyser technology to this exciting and important project", says

Hans Hide, Nel's Chief Project Officer. "We are also excited to work with

Kraftanlagen on this project, a professional EPC company. This allows Nel to

focus on its core scope while still bringing a competitive solution for the

hydrogen production system to the customer."

"Reliable supplies of green hydrogen are key to decarbonizing sectors such as

the aviation industry. We build on decades of experience in large-scale

electrolysis and are excited to move to the next phase of the project with these

strong partners to lay the foundation for the new hydrogen economy", says Marcel

Galjee, Managing Director of HyCC

"We are proud to bring our proven EPC expertise to this lighthouse project. This

project will significantly support the decarbonization of the aviation industry.

It is important that large-scale green hydrogen production plants now become

reality and H2eron will provide for more sustainable aviation. At Kraftanlagen,

we are committed to bring these projects to execution and make green hydrogen

available", says Alfons Weber, CEO of Kraftanlagen Energies & Services.

This is a firm purchase order for alkaline electrolyser equipment. Electrode

production is estimated to commence in Q4 2025.

ENDS

For additional information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02?097

Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

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. Since its

origins in 1927, Nel has a proud history of development and continual

improvement of hydrogen plants. Our hydrogen solutions cover the entire value

chain from hydrogen production technologies to manufacturing of hydrogen fueling

stations, providing all fuel cell electric vehicles with the same fast fueling

and long range as conventional vehicles today.

This information is subject to a duty of disclosure pursuant to Section 5-12 of

the Norwegian Securities Trading Act. This information was issued as inside

information pursuant to the EU Market Abuse Regulation, and was published by

Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time

provided.