Nel ASA

Regulatory Filings • Apr 13, 2016

NEL ASA: Initiates feasibility partner study for large-scale hydrogen production in Norway

NEL ASA: Initiates feasibility partner study for large-scale hydrogen production in Norway

(Oslo, 13 April 2016) NEL ASA (NEL) has together with SINTEF, Statoil, Linde

Kryotechnik, Mitsubishi Corporation, Kawasaki Heavy Industries, NTNU and The

Institute of Applied Energy, among others, initiated the project "Hyper", a

feasibility study of the potential for large scale hydrogen production in Norway

for export to the European and Japanese markets. The project has received a 14

MNOK grant from the ENERGIX-programme of the Research Council of Norway.

"We are proud to announce the initiation of Project Hyper with SINTEF and our

partners. The exploration of large-scale hydrogen production in Norway for

European and Japanese markets has significant potential. We are looking at a

scenario in which production of 225 000 tons of hydrogen could fuel as many as

three million cars annually. We are looking forward to contribute to the project

with our world-wide and extensive experience within hydrogen production from

renewable energy," says Bjørn Simonsen, market development director of NEL.

SINTEF Energy Research is the host organisation and the lead research partner

for Project Hyper. The aim of the project is to study the feasibility, as well

enable the planning, construction, and operation of a commercial decarbonised

hydrogen production, liquefaction, and export facility based on Norwegian fossil

- and renewable energy resources.

"Project Hyper gives us a unique possibility to investigate and gain a deeper

understanding of the different technological elements and interactions within

hydrogen production. It is a strength for the project that we have major

industry partners with us, and is an opportunity to utilise their competence and

commercial insight within this area", says Chief Scientist at SINTEF Energy

Research, Dr. Petter Nekså.

Project Hyper is planned and financed throughout 2019. The total project cost is

estimated at 20 MNOK. It is funded by a 14 MNOK grant from the Research Council

of Norway (ENERGIX), in addition to the contributions from the project partners.

"One of aims of the project is to develop cost-efficient means for decarbonised

value creation from Norwegian energy resources", says David Berstad, researcher

at SINTEF.

For additional information, please contact:

Bjørn Simonsen, Director for Market Development and Public Relations, + 47 97 17

98 21

About NEL

NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange. NEL

has its roots from the hydrogen technology developed by Norsk Hydro, and has

since 1927 had a proud history of continual delivery and improvement of hydrogen

technologies. NEL is today through the daughter companies of NEL Hydrogen AS and

H2 Logic A/S a global supplier of hydrogen solutions, covering the entire value

chain from hydrogen production technologies to hydrogen refuelling stations.

www.nel-asa.com

About SINTEF

SINTEF is the largest independent research organisation in Scandinavia. We

create value and innovation through knowledge generation and development of

technological solutions that are brought into practical use. www.sintef.no