Nel ASA

Regulatory Filings • Dec 14, 2018

Nel ASA: Awarded grant for green fertilizer project with Yara

Nel ASA: Awarded grant for green fertilizer project with Yara

(Oslo, December 14, 2018) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel,

OSE:NEL) has been awarded a grant under the PILOT-E scheme for the development

and realization of a green fertilizer project together with Yara International

ASA (Yara, OSE:YARA). The ambition of the project is to realize zero-emission

fertilizer production using innovative solutions and cost-efficient hydrogen

production from electrolysis based on renewable energy.

"We're very proud to announce our cooperation with Yara on their endeavor to

develop efficient, green ammonia and fertilizer production solutions. The

project is leveraging on the development of our next generation alkaline

electrolyzer, which basically is tailormade for large-scale ammonia production

and other industrial applications. With larger capacity, lower cost and even

more operational flexibility, this technology will be ideal for renewable

fertilizer production. It is an honor to work closely with Yara, with our shared

roots to Norsk Hydro, to develop efficient, green ammonia production solutions,

triggered by the PILOT-E scheme," says Jon André Løkke, Chief Executive Officer

of Nel.

The PILOT-E scheme provides funding for Norwegian trade and industry and has

been launched as a collaboration between the Research Council, Innovation Norway

and Enova. The objective of the scheme is to develop and utilize novel products

and services in the field of environment-friendly energy technology as a means

of reducing emissions both in Norway and internationally. Final agreements for

the grant will be signed early 2019, upon which the project will commence

immediately thereafter.

"The market for large-scale renewable hydrogen is gaining traction across the

globe, and we're spending significant R&D resources in developing the next

generation electrolyzer to address the truly big applications, such as ammonia,

refineries, methanol and steel production. The Norwegian Government, through the

Research Council, has supported us in these efforts so far, and we are excited

that they will continue to do so through the PILOT-E scheme. Nel has a strategic

ambition of being at the forefront of the technology development and we will

continue to invest in new technologies to maintain our leadership position,"

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 ASA | 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.