Nel ASA

Environmental & Social Information • Jul 2, 2020

Nel awarded grant for further cost and efficiency improvements of next generation alkaline electrolyser

Nel awarded grant for further cost and efficiency improvements of next generation alkaline electrolyser

(Oslo, 2 July 2020) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel,

OSE:NEL) has been awarded a grant from the Research Council of Norway for a

research project which seeks to further improve the efficiency and cost of Nel's

next generation, pressurized alkaline electrolyser platform.

The project focuses on the continuous improvements of fundamental elements in

the cell stack of Nel's next generation alkaline electrolyser platform, already

representing a novel stack design within the field of electrolysis. These

improvements are expected to further support realization of large-scale

electrolyser opportunities through lower total cost of ownership for Nel's

customers. Nel will collaborate with Norwegian research and development partners

on the project to reduce both CAPEX and OPEX costs significantly.

"We are very excited to receive the support of the Norwegian Research Council

for this project. It will help us continue basic research activities to further

advance our next generation electrolyser platforms, helping maintain Nel's

technology leadership. This will in turn contribute to reduction of cost of

green hydrogen, and stimulate on-site hydrogen generation from renewables to be

used in the industry and transport sector," says Marius Bornstein, Technology

Manager in Nel Hydrogen Electrolyser.

The grant has a value of NOK 16 million, and the research project is scheduled

to start in Q3-2020 and last until Q3-2022.

ENDS

For additional information, please contact:

Bjørn Simonsen, VP Investor Relations and 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.