Nel ASA

Regulatory Filings • Mar 24, 2021

Nel ASA: Order for four additional H2StationT modules from Iwatani

Nel ASA: Order for four additional H2StationT modules from Iwatani

(Oslo, 24 March 2021) On 24 March 2021 Nel Hydrogen Fueling, a division of Nel

ASA (Nel, OSE:NEL), received a purchase order for an additional  four H2StationT

units for fueling of light-duty vehicles in California from Iwatani Corporation

of America, a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock

Exchange).

"We are very honored that Iwatani have selected our H2StationT for their first

hydrogen fueling station supported by the Grand Funding Opportunity under the

Californian Energy Commissioning. The stations will serve existing as well as

new fuel cell electric vehicles with zero-emission fuel, at the same convenience

as conventional fuels. With our new Nel Inc. entity currently based in the Los

Angeles area we now look forward to expanding our business in South California

and supporting Iwatani," says Ulrik Torp Svendsen, Global Key Account Manager,

Nel Hydrogen Fueling.

The value of the purchase order is in excess of NOK 40 million for the four

H2StationT modules which will be delivered in addition to the 14 H2StationT

modules ordered from Iwatani in 2020. Reference is made to the press release 12

November 2020 regarding the purchase order: Nel ASA: Reference is made to stock

exchange announcement regarding contract for multiple hydrogen fueling stations

| Nel Hydrogen (https://nelhydrogen.com/press-release/nel-asa-reference-is-made

-to-stock-exchange-announcement-regarding-contract-for-multiple-hydrogen-fueling

-stations/)

ENDS

For further information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Kjell Christian Bjørnsen, CFO, +47 917 02?097

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. Our

roots date back to 1927, and since then, we have had a proud history of

development and continuous improvement of hydrogen technologies. Today, our

solutions cover the entire value chain: from hydrogen production technologies to

hydrogen fueling stations, enabling industries to transition to green hydrogen,

and providing fuel cell electric vehicles with the same fast fueling and long

range as fossil-fueled vehicles - without the emissions.