Nel ASA

Regulatory Filings • Feb 21, 2017

Nel ASA: Awarded frame contract for multiple hydrogen fueling stations in California by Royal Dutch Shell Plc

Nel ASA: Awarded frame contract for multiple hydrogen fueling stations in California by Royal Dutch Shell Plc

(Oslo, 21 February 2017) Nel Hydrogen Solutions, a division of Nel ASA (Nel,

OSE:NEL), has entered into a framework contract for the supply, construction and

maintenance of H2Station® hydrogen fueling stations in California for Royal

Dutch Shell Plc ("Shell") in a partnership with Toyota Motor Corp.

"Being exclusively chosen by Shell and Toyota for this framework contract is a

great honor and proves that our technology is state of the art. We look forward

to working with our partner to roll out their Californian hydrogen fueling

network", says Mikael Sloth, Vice President Business Development in Nel.

On Friday 17th of February 2017, the California Energy Commission (CEC)

announced the Notice of Proposed Awards (NOPA) for the Grant Funding

Opportunity. Following the NOPA announcement, Nel and Shell finalized the

framework contract for the exclusive supply, construction and maintenance for

H2Station® hydrogen fueling stations in California.

Through this project, Shell will build seven fueling stations for hydrogen cars

in California through a partnership with Toyota Motor Corp, these stations will

support the target for 100 hydrogen fueling stations by 2020 in the state. The

California Energy Commission is considering $16.4 million in grants toward these

stations, with Shell and Toyota contributing their part. The contract between

Nel and Shell has a potential value in excess of NOK 140 million depending of

number of H2Stations and scope of equipment and services that Shell choses to

execute under the framework contract.

"As communicated yesterday, this is our largest single order for fueling

stations ever. Working with great partners like Shell and Toyota is a privilege

and we will do our best to ensure that this project becomes a success for other

to follow.", says Jon André Løkke, Chief Executive Officer of Nel.

Nel Hydrogen installed the first H2Station® for Shell in 2014 at a conventional

gas station in Hamburg, Germany, and will use this experience for the deliveries

to Shell in California.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 9074 4949

About Nel| 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

foundation 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.