Nel ASA

Regulatory Filings • Feb 22, 2019

Nel ASA: Received notice on bid winner for two hydrogen fueling stations in South Korea

Nel ASA: Received notice on bid winner for two hydrogen fueling stations in South Korea

(Oslo, 22 February 2019) Nel Korea Co., Ltd., a subsidiary of Nel ASA in Korea

has received the notice as bid winner of two H2Station® hydrogen fueling station

from Gangwon Technopark. One station will feature on-site production of hydrogen

from a natural gas reformer, where hydrogen will be produced and distributed via

trailers to the other H2Station®.

"Korea is truly one of the fast movers within hydrogen station deployment, with

ambitions of increasing the number of stations from 30 to more than 300 stations

installed by 2022. We are very excited to receive notice on bid winner for two

additional fueling stations in Korea, and we see it as a recognition of our

continued focus and dedication to the market," says Simon Choi, Sales Director

and VP, Nel Korea.

The value of the proposed station solution is around EUR 2.8 million, and the

H2Station® units are scheduled to be installed in Gangneung and Samcheok during

2019. With the proposed financing In place, Nel and the end customer will now

work to finalize necessary agreements.

ENDS

For further information, please contact:

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

Bjørn Simonsen, VP Market Development & Public Relations, +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 Nel Korea Co., Ltd.

Nel Korea is a subsidiary of Nel ASA, dedicated to sales and service of

H2Station® hydrogen fueling equipment and stations in Korea. Established to

facilitate sales, installation and operation of H2Station® in Korea. H2Station®

technology from Nel is renowned for reliable and high-performance hydrogen

fueling and compact station design.