Nel ASA

Nel ASA: Receives purchase order for an alkaline electrolyser system from an undisclosed Indian customer

(Oslo, 5 May 2022) Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel,

OSE:NEL), has received purchase order from an undisclosed Indian refinery for an

alkaline electrolyser to provide hydrogen for oleochemicals production.

Nel Hydrogen US has received a contract for an alkaline electrolysis hydrogen

production unit to be delivered to a leader in the palm oil refining business

and production of oleochemicals. Oleochemicals are used in a broad range of

products and industries, like metalworking lubricants, additives for plastics,

rubber and paper production, automotive lubricants, greases and fuel additives,

and personal care products such as soaps, lotions, cosmetics and deodorants

"This project represents an opportunity to showcase an electrolyser solution

that provides reliable and cost-effective hydrogen for oleochemicals production.

We are thrilled to be working with an established and respected leader in this

sector", said Tom Skoczylas, Sales Manager for Nel Hydrogen US.

The purchase order has a value of approximately EUR 2 million, and delivery of

the equipment is expected to be mid-2023.

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.

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