Nel ASA

Regulatory Filings • Aug 20, 2019

Nel ASA: Signs collaboration agreement with Yara related to green fertilizer project

Nel ASA: Signs collaboration agreement with Yara related to green fertilizer project

(Oslo, 20 August 2019) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel,

OSE:NEL), announced today the signing of a collaboration agreement with Yara

International ASA (Yara, OSE:YARA), related to the previously announced PILOT-E

funded green fertilizer project.

"We're very happy to initiate this exciting project together with Yara towards

developing efficient, green ammonia and fertilizer production solutions. The

project is leveraging on the development of our next-generation pressurized

alkaline electrolyzer, which is being designed for larger capacity, lower cost

and even more operational flexibility than our current generation electrolyzers.

It is an honor to work closely with Yara to develop efficient, green ammonia

production solutions, triggered by the PILOT-E scheme," says Jon André Løkke,

Chief Executive Officer of Nel.

Reference is made to the stock exchange announcement of 14 December 2018,

announcing a grant award under the PILOT-E scheme for the development and

realization of a green fertilizer project together with 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.

The next-generation, pressurized alkaline electrolyzer developed by Nel will be

installed at the Yara facilities in Porsgrunn for piloting in an industrial

environment and will have a capacity of approximately 5 MW. After the project,

subject to certain criteria, ownership of the electrolyzer will be transferred

to Yara for continued operation in the pilot plant.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +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.