Nel ASA

Regulatory Filings • Dec 18, 2019

Press release: Everfuel awarded grant for the establishment of a large-scale hydrogen production facility in Denmark

Press release: Everfuel awarded grant for the establishment of a large-scale hydrogen production facility in Denmark

(Oslo, 18 December 2019) Everfuel Europe A/S (Everfuel) has been awarded in

excess EUR 6 million from the Danish Energy Agency for the project HySynergy,

which aims to establish a large-scale, electrolysis-based hydrogen production

facility at the Shell refinery in Fredericia, Denmark.

"We have been working on this project for a couple of years now, and are

delighted to see that Jacob Krogsgaard and his team in Everfuel are taking

another important step towards realizing renewable hydrogen production next to

the refinery in Fredericia. The facility will act as a back-bone for renewable

hydrogen supply in Denmark, both for the refinery itself, and also for light-

and heavy-duty fuel cell electric vehicles operating in the area," says Jon

André Løkke, CEO of Nel (NEL, OSE: NEL) which holds a minority interest in

Everfuel.

The Danish Energy Agency has awarded in excess of EUR 6 million for the

development of the HySynergy hydrogen production project in Fredericia, Denmark.

Everfuel will be the owner and operator of the hydrogen production facility,

while Shell will be main off-taker of hydrogen from the electrolyser. Everfuel

will also install hydrogen storage, trailer filling stations and operate

hydrogen trailers to supply hydrogen fuel in Denmark.

The parties will continue to work on permits and agreements related to the

project, and are expecting to provide further details on the project during

first half of 2020. Initial capacity of the electrolyser will be 20 MW, while

the location at Fredericia will be prepared to accommodate for a capacity

increase of up to 1GW.

The shareholders in Everfuel are E.F. Holding (80,1%) and Nel (19,9%).

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. Since its

origins in 1927, Nel has a proud history of development and continual

improvement of hydrogen plants. Our hydrogen solutions cover the entire value

chain from hydrogen production technologies to manufacturing of hydrogen fueling

stations, providing all fuel cell electric vehicles with the same fast fueling

and long range as conventional vehicles today.

About Everfuel A/S | www.everfuel.com

Everfuel is the new fuel company in Europe - providing green hydrogen for large

vehicles fleets like buses, trucks and taxies.