Nel ASA

Regulatory Filings • Aug 28, 2019

Nel ASA: Secured location for low-cost electrolyzer manufacturing with infrastructure allowing for more than 1 GW/year capacity

Nel ASA: Secured location for low-cost electrolyzer manufacturing with infrastructure allowing for more than 1 GW/year capacity

(Oslo, 28 August 2019) Nel ASA (Nel, OSE:NEL) announces today that the company

has secured a new location in Herøya Industrial Park (Herøya) for the planned

expansion of manufacturing capacity of alkaline electrolyzers. The new location

at Herøya provides a number of benefits, including a potential to further expand

capacity to more than 1 GW/year. Besides manufacturing, the other functions

related to alkaline electrolyzer operations will continue from Notodden.

"We have been working closely with partners and stakeholders during 2019 with

the expansion plans, and have finally concluded that the location of the new

manufacturing plant will be Herøya, a world-leading industrial complex with

state-of-the-art infrastructure already in place at competitive prices. Herøya

brings proximity to important partners, holds decades of industrial heritage and

is an attractive industrial hub for current and future colleagues. The available

facility at Herøya also provides significant opportunities for scaling up the

production. Besides manufacturing however, the remaining operations will

continue from Notodden, and we very much appreciate the good discussion and

support we have received from Notodden municipality during this process," says

Jon André Løkke, CEO of Nel.

The initial target production capacity will be 360 MW/year. With current,

planned setup, the new premises at Herøya allows for a capacity of more than 1

GW/year.

Nel is currently also examining opportunities to make an even more advanced

production line and manufacturing process, which will have the potential to

increase capacity significantly beyond 1 GW.

ENDS

For further information, please contact:

Jon André Løkke, CEO, Nel ASA, +47 907 44 949

Bjørn Simonsen, VP Investor Relations and Corporate Communication, +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

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.