Nel ASA

Regulatory Filings • Jul 17, 2023

Nel ASA: Receives purchase order for 40 MW electrolyser equipment from Bondalti

Nel ASA: Receives purchase order for 40 MW electrolyser equipment from Bondalti

(July 17, 2023 - Oslo, Norway) Nel Hydrogen Electrolyser AS, a subsidiary of Nel

ASA (Nel, OSE:NEL), has signed a contract for 40 MW of alkaline electrolyser

equipment for about EUR 11 million with Bondalti for its first phase of the H2

Enable project in Estarreja, Portugal.

"We continue to experience good momentum for our electrolysers, and we are happy

to partner with a quality company such as Bondalti, an exciting client committed

to decarbonisation", says Nel's CEO, Håkon Volldal.

Bondalti is the largest company in the Portuguese chemical industry. The

electrolyser plant, which is aimed to commence production in the beginning of

2026, will inject green hydrogen into the natural gas grid, supply long-haul

transport and cater for Bondalti's own hydrogen demand for chemical processes.

The client's strategic objectives include a significant incorporation of green

hydrogen into its value chain, with the aim of decarbonising current operations

and, at the same time, contributing towards the climate and energy targets

established at European level, specifically those of the "Fit for 55" initiative

for the chemicals sector.

"Our commitment to decarbonisation is not new, we already incorporate 40% of

renewable energy in our operations, and this value will be 100% by 2030. The H2

Enable project is another main milestone for the reduction of the carbon

footprint in the Estarreja Chemical Complex, as well as a major contribution to

decarbonize other hard-to-abate sectors", says Bondalti's COO, André de

Albuquerque.

This is a firm purchase order for alkaline stacks. Wood has been contracted as

EPC for the FEED study. The electrodes will be produced in the Herøya facility

in Norway, the world's first fully automated electrolyser production line.

ENDS

For additional information, please contact:

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

Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com

Nel has a history tracing back to 1927 and is today a leading pure play hydrogen

technology company with a global presence. The company specializes in

electrolyser technology for production of renewable hydrogen, and hydrogen

fueling equipment for road-going vehicles. Nel's product offerings are key

enablers for a green hydrogen economy, making it possible to decarbonize various

industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of

the Norwegian Securities Trading Act. This information was issued as inside

information pursuant to the EU Market Abuse Regulation, and was published by

Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time

provided.