Nel ASA

Regulatory Filings • Feb 25, 2019

Nel ASA: Awarded purchase order for a 2 MW PEM electrolyzer in Switzerland and enters a 30 MW framework contract

Nel ASA: Awarded purchase order for a 2 MW PEM electrolyzer in Switzerland and enters a 30 MW framework contract

(Oslo, 25 February 2019) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel,

OSE:NEL), has received a purchase order for a 2 megawatt (MW) containerized

Proton PEM® electrolyzer, as part of a 30 MW framework agreement with

Hydrospider AG, an affiliated company of H2 Energy. The electrolyzer will be

used to produce green hydrogen for heavy-duty hydrogen trucks from Hyundai Motor

Company, which will begin operation in Switzerland during late 2019. The

framework agreement represents the first phase of 60 - 80 MW needed to supply

hydrogen for the total expected 1000 trucks and other applications.

"We are proud to announce that we have been awarded a framework agreement over

30 MW of our Proton PEM® Megawatt platform electrolyzers to produce green

hydrogen for the 1000 trucks being delivered by Hyundai to Switzerland.

Hydrospider will be producing and delivering green hydrogen for the Hyundai

heavy-duty hydrogen trucks in the required quantity and quality. It is a great

pleasure working with H2 Energy, whose core values around clean energy and de

-carbonization align so closely with ours," says David Bow, Senior Vice

President of Nel.

The purchase order, which represents the first containerized megawatt Proton PEM

electrolyzer delivered by Nel in Europe, has a value exceeding USD 3 million,

and will be installed during second half of 2019.

H2 Energy is working together with various partners to establish a nation-wide

network of hydrogen stations and corresponding supply chain in Switzerland.

Their target is to develop solutions for application of renewable hydrogen in

the maritime, rail, stationary sectors, in addition to hydrogen-powered

commercial vehicles such as trucks and buses. H2 Energy is focusing on producing

only renewable energy based hydrogen to contribute to the decarbonization of

various sectors.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

About Nel Hydrogen | www.nelhydrogen.com

Nel Hydrogen 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.