Nel ASA

Regulatory Filings • Oct 4, 2022

Nel ASA: Receives funding from US Department of Defense, Engineer Research and Development Center- Construction Engineering Research Laboratory

Nel ASA: Receives funding from US Department of Defense, Engineer Research and Development Center- Construction Engineering Research Laboratory

(Oslo, October 4, 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE:

NEL), has been granted $5.6 million in funding from the US Department of Defense

(DoD) for accelerating advanced PEM electrolyser stack development, to enable

low-cost hydrogen storage and resiliency applications, in collaboration with the

Engineer Research and Development Center- Construction Engineering Research

Laboratory (ERDC- CERL).

The purpose of this 19-month project is to accelerate low-cost electrolyser

development with the aim to reduce both operating and capital costs. High level

activities include development of membranes optimized for electrolysis

applications, development of advanced catalysts including high volume

manufacturing and recycling techniques, surface coating techniques to reduce

precious metal usage, and cell stack integration and testing in a full system at

ERDC-CERL. The project also has options for additional funding.

"We are excited to receive this funding from the Department of Defense. This

project will be an important enabler for renewable hydrogen generation at scale

for industrial applications with the PEM technology" says Kathy Ayers, Vice

President, Research and Development at Nel

"Hydrogen generation provides a unique energy source that can be used to support

the national energy security and resiliency," says Nicholas Josefik, Senior

Researcher, Energy Branch, ERDC-CERL

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 Hydrogen | www.nelhydrogen.com

Nel Hydrogen 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.

About ERDC |  www.erdc.usace.army.mil/

ERDC, one of the most diverse engineering and scientific research organizations

in the world conducts research and development in support of the soldier,

military installations, and the Corps of Engineers' civil works mission, as well

as for other federal agencies, state and municipal authorities, and with U.S.

industries through innovative work agreements. ERDC operates more than $1

billion in world class facilities at seven labs located in four states with more

than 2,100 employees to administer an annual research program exceeding $1

billion.

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.