Nel ASA

Regulatory Filings • Feb 4, 2022

Nel ASA: Receives contract for containerized electrolyzer and hydrogen refueling equipment

Nel ASA: Receives contract for containerized electrolyzer and hydrogen refueling equipment

(Oslo, 04 February 2022) Nel Hydrogen US, a subsidiary of Nel ASA (Nel,

OSE:NEL), has received a contract for a containerized PEM electrolyzer and light

duty hydrogen fueling station package from a leading power and gas utility in

the United States.

Nel Hydrogen US has received a contract for a containerized PEM electrolyzer to

be integrated with its 700 bar H2Station® hydrogen fueling equipment package at

a power generating site in the US.  The project will demonstrate several use

cases for green hydrogen, including cooling of the turbine generators, direct

injection of hydrogen into the natural gas fuel stream at the plant, and for

fueling a fleet of light duty fuel cell vehicles to be operated by the utility.

Power for the electrolyzer will come from various sources, including an on-site

solar PV array, making it a near carbon free source of hydrogen for all three

use cases.

"This project represents an important opportunity to demonstrate the flexibility

and multiple value streams offered by green hydrogen.  We are thrilled to be

working with a progressive and visionary utility on this project", said Stephen

Szymanski, Vice President of Sales & Marketing for Nel Hydrogen US.

The purchase order has a value of approximately USD 5 million, and the equipment

will be delivered in late 2022 and early 2023.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

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

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. Our

roots date back to 1927, and since then, we have had a proud history of

development and continuous improvement of hydrogen technologies. Today, our

solutions cover the entire value chain: from hydrogen production technologies to

hydrogen fueling stations, enabling industries to transition to green hydrogen,

and providing fuel cell electric vehicles with the same fast fueling and long

range as fossil-fueled vehicles - without the emissions.

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 Kjell Christian Bjørnsen, CFO at NEL ASA

on the date and time provided.