Nel ASA

Capital/Financing Update • Jan 30, 2019

Nel ASA: Enters into contract on H2Station® for Heavy Duty Vehicles in the U.S.

Nel ASA: Enters into contract on H2Station® for Heavy Duty Vehicles in the U.S.

(Oslo, 30 January 2019) Nel Hydrogen Inc., a subsidiary of Nel ASA (Nel,

OSE:NEL), has entered into a contract for delivery of a H2Station® solution for

fueling of heavy-duty vehicles in the US.

"We are happy to have secured a significant H2Station® order for fueling of

heavy duty vehicles in the U.S. As the deployment of hydrogen as a fuel for the

heavy-duty sector is moving faster than expected, we are also gearing up our

efforts and technology developments more toward offering solutions that can

accommodate growth in this segment," says Jon André Løkke, Chief Executive

Officer of Nel.

The H2Station® order has a total value of more than $6 million. The H2Station®

equipment will be deployed in the U.S. and will be capable of fueling both heavy

duty trucks as well as light duty vehicles. The work related to the contract

will start soon and exact delivery time to be agreed. The customer has requested

to remain unnamed, and further details will be released at a later point in

time.

"It is a pleasure to support our customer in their hydrogen deployment in the

U.S., and it is encouraging to see an increasing number of industry wide

initiatives shifting away from diesel as a fuel over to renewable hydrogen for

heavy-duty applications," says Løkke.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

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

About Nel Hydrogen | www.nelhydrogen.com

Nel Hydrogen 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.