Nel ASA

Regulatory Filings • Jul 27, 2020

Press Release: Awarded grant to develop a novel electrolyser stack to enable lower cost hydrogen generation

Press Release: Awarded grant to develop a novel electrolyser stack to enable lower cost hydrogen generation

(Oslo, 27 July, 2020) Proton Energy Systems, Inc. (dba "Nel Hydrogen US"), a

wholly owned subsidiary of Nel ASA (Nel, OSE:NEL), has been awarded a $4.4

million grant by the Department of Energy (DOE) for development of advanced

components and manufacturing methods to enable low cost hydrogen from

electrolysis.

The purpose of the project is to leverage the DOE National Lab capabilities to

develop advanced cell configurations which optimize interactions between

components such as flow and conductivity, and translate those configurations to

low cost manufacturing methods in collaboration with project partners.  These

advancements will not only reduce the cost of the components being developed,

but also the adjacent parts through this optimization.

"We are very excited to receive this award from the DOE. This project enables

continuing progress on our technology strategy to decrease the cost of proton

exchange membrane electrolysis," says Kathy Ayers, Vice President R&D of Nel

Hydrogen US.

The project is funded by the Hydrogen and Fuel Cell Technologies Office (HTFO)

within DOE's Office of Energy Efficiency and Renewable Energy, and part of DOE's

H2@Scale initiative, developed in response to the opportunity for hydrogen to

provide improved efficiency and resiliency in multiple sectors including

transportation and industry, and to realize gains in various industries using or

producing hydrogen.

ENDS

For further information, please contact:

Jon André Løkke, CEO, Nel ASA, +47 907 44 949

Bjørn Simonsen, VP Investor Relations & Corporate Communication, +47 971 79 821

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.