Nel ASA

NEL ASA: First quarter 2015 results

(Oslo, 30 April 2015) NEL ASA ("NEL") reported an EBITDA of NOK 1.5 million in

the first quarter 2015 from revenues of NOK 17.6 million. After having acquired

NEL Hydrogen and successfully raised capital, the company has a solid platform

for future growth within the hydrogen industry.

NEL, formerly Diagenic ASA, reported revenues in the first quarter 2015 of NOK

17.6 million, compared to NOK 12.1 in the fourth quarter 2014. Comparisons are

made with the preceding quarter as the business transformation makes comparisons

to the first quarter of 2014 of no value. EBITDA ended at NOK 1.5 million (

-3.5), bringing the cash balance to NOK 164.5 million at the end of the first

quarter.

In April, NEL increased its ownership in Hyme AS, a provider of solutions for

hydrogen refuelling stations, from 31 to 56.8 %, coinciding with the global

launch of hydrogen fuel cell electric vehicles (FCEV) in 2015. NEL delivered the

world's first publically available hydrogen refuelling station in Iceland in

2003 and offers solutions for both trucked-in hydrogen supply and on-site

electrolytic production. Through NEL's existing international presence, the

company is well positioned to offer this concept globally.

For additional information, please contact:

Lars Christian Stugaard, acting chief executive officer, +47 47 63 05 22

About NEL

NEL ASA (formerly Diagenic ASA) is the first dedicated hydrogen company on the

Oslo Stock Exchange. Since its foundation in 1927, NEL Hydrogen has a proud

history of development and continual improvement of hydrogen plants. NEL aims to

maintain and grow its position as a world-leading manufacturer of hydrogen

electrolysers. NEL aims to deliver a complete solution, from production of

hydrogen to refuelling of vehicles, through the partly owned company Hyme AS.

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