Nel ASA

M&A Activity • Mar 25, 2021

Nel ASA: Signs MoU with Haldor Topsoe for delivery of end-to-end green ammonia and methanol solutions

Nel ASA: Signs MoU with Haldor Topsoe for delivery of end-to-end green ammonia and methanol solutions

(Oslo, 25 March 2021) Nel ASA (Nel, OSE:NEL) has entered into an MoU with Haldor

Topsoe with the intent to offer customers end-to-end green ammonia and methanol

solutions, based on globally leading technologies from the two companies.

"We are very excited to join forces with Haldor Topsoe for possible future

development of end-to-end green ammonia and green methanol solutions to

customers, both which are widely regarded as important carbon free fuels and

energy carriers for the future. This is a market that is expected to grow

significantly in the years to come and we look forward to working with Haldor

Topsoe to deliver complete solutions to customers, based on demonstrated

technologies available today" says Jon André Løkke, CEO of Nel ASA.

Under the MoU, Nel will bring extensive experience within alkaline and PEM

electrolysis technology and proprietary hardware, as well as system engineering

for the hydrogen production. Haldor Topsoe will supply engineering, proprietary

hardware, catalyst and technical service for its ammonia and methanol

technologies.

"We are very pleased to take the next step in our excellent relation with Nel.

Together, we can offer end-to-end renewable electricity to green ammonia and

green methanol solutions based on the most reliable technologies available

today. Driven by our vision to be recognized as the global leader in carbon

emission reduction technologies by 2024, we are excited to offer innovative and

attractive low-carbon solutions to our customers. This cooperation speaks

directly to our customers' needs as we see massive interest from the market

requesting basic engineering, license, and process guarantee in one package,"

says Amy Hebert, Chief Commercial Officer of Haldor Topsoe.

The MoU is a non-exclusive agreement that will serve as a basis for further

development of a collaboration agreement which is expected to complete later

this year.

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.