Nel ASA

Regulatory Filings • Dec 21, 2017

Nel ASA: Awarded Orders over USD 2.3 Million for U.S. and U.K. Navy Electrolyzer Stacks

Nel ASA: Awarded Orders over USD 2.3 Million for U.S. and U.K. Navy Electrolyzer Stacks

(Oslo, 21 December 2017) Proton OnSite (Proton), the U.S. subsidiary of Nel ASA

(Nel, OSE:NEL), has received combined purchase orders for electrolyzer cell

stacks from United Technologies Aerospace Systems (UTAS) for the U.S. and U.K.

submarine fleets, at a value of more than USD 2.3 million. The electrolyzer

stacks produce critical life support oxygen for Navy crews on multiple classes

of nuclear powered submarines and will be delivered under an exclusive contract.

"We are very proud to work with our partner UTAS and the Navy customers for our

cell stacks.  These new orders demonstrate the continuing success of our world

class manufacturing and quality systems, as well as the robustness of our

industry leading PEM technology that is delivering mission critical oxygen to

the sailors onboard these Navy submarine fleets" says Jon André Løkke, CEO of

Nel.

The purchase orders, valued at more than USD 2.3 million, will be part of an

exclusive contract with UTAS, and follows Proton's long history of supplying PEM

electrolyzer stacks for the production of critical life sustaining oxygen on

board Navy submarines for over a decade. The cell stack technology jointly

developed by Proton and UTAS for their Navy customers has also been integrated

into commercial electrolyzers under Proton's C-Series® product line.

"The Navy acquisition community is now exclusively buying PEM stacks for oxygen

production on submarines, based on its long track record of reliability and

performance, and Nel is now the world's leading supplier of PEM technology for

this application. Furthermore, the military heritage and performance of these

cell stacks assures customers receive unparalleled reliability and durability

for their commercial electrolyzer applications," says Løkke.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Bjørn Simonsen, VP Market Development and Public Relations, +47 971 79 821

About Nel | www.nelhydrogen.com

Nel ASA 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 the

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

improvement of hydrogen plants, and is today the world's largest supplier of

electrolysers. 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.

Proton Energy Systems, Inc. (Proton) is the global leader in PEM electrolyser

solutions, and since July 2017 a subsidiary Nel ASA. Since 1996, Proton has been

developing and applying hydrogen technology in creative and practical ways that

best meet the diverse requirements of its customers. Proton sells commercial

hydrogen, nitrogen and purified air equipment across a broad range of markets

including electric generator cooling, analytical laboratories, semiconductor

fabrication, material processing, fueling stations and power-to-gas

applications. For more information on the M-series electrolyser, please visit:

www.protononsite.com/products/m-series