Nel ASA

Regulatory Filings • Apr 9, 2021

Nel ASA: Enters into framework agreement with Wood

Nel ASA: Enters into framework agreement with Wood

(Oslo, 9 April 2021) Nel ASA (Nel, OSE:NEL) has entered into a framework

agreement with the global consulting and engineering company Wood (LSE: JOHN).

The companies will collaborate to develop and execute large scale, complex green

renewable hydrogen projects in select regions across the world.

"We are very excited to be entering into this agreement with Wood, who has

extensive experience from large, complex projects worldwide. As green hydrogen

projects are growing in size and complexity, it is crucial for our success to

have strong partners to strengthen our project management- and execution

capabilities. This is a long-term commitment, and we look forward to working

together to further strengthen our competitiveness through leveraging our

experience and competence." says Jon André Løkke, CEO of Nel ASA.

Wood is a global leader in consulting and engineering across energy and the

built environment, providing consulting, projects and operations solutions in

more than 60 countries, employing around 40,000 people.

"We are excited about the opportunity to support NEL Hydrogen as they play their

part in the green hydrogen revolution, and as we unite on our commitment to

create a more sustainable and cleaner energy future. We look forward to

leveraging our global engineering and project implementation capabilities to

support our client on their delivery of impactful solutions around the world,"

says Craig Shanaghey, Wood's President of Operations for Europe, Middle East and

Africa.

The process of phasing in Wood on ongoing projects is underway.

ENDS

For further 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.