Nel ASA: Receives purchase order for a 1.25 MW containerized PEM electrolyser from NREL

OSLO,Norway,Oct. 23,2020 -- Nel Hydrogen US,a division of Nel ASA (Nel,OSE: NEL),has received a purchase order for a 1.25 megawatt (MW) containerized Proton PEM® electrolyser from the National Renewable Energy Laboratory (NREL) for installation in the ARIES research initiative at the NREL campus in Boulder,CO.

"This project will enable an exciting collaboration between Nel and NREL,by providing an advanced and flexible electrolyser platform for integrated energy system research at NREL's Flatiron campus in Boulder," says Steve Szymanski,Vice President of Sales and Marketing at Nel Hydrogen US.

"The ARIES project is a first of its kind research platform that can match the complexity of the modern energy system and conduct integrated research to support the development of groundbreaking new energy technologies. Nel is proud to be delivering a key technology component to the project,to demonstrate the flexibility and utility of electrolysers when integrated into renewable energy systems," Szymanski concludes.

NREL will be installing and testing the electrolyser system at the Flatirons Campus and conducting applied research in the application of hydrogen for various use cases in the ARIES system platform. The delivered electrolyser system will offer unique capability and flexibility,including the opportunity to expand it to 2.5 MW in the future.

Nel will also be providing collaborative research support for the installed system,as an important contributor toward the development of technical and financial models of power-to-gas business cases. More information about the "Advance Research on Integrated Energy Systems" (ARIES) research initiative can be found at https://www.nrel.gov/aries/

The purchase order has a value of around USD 2 million,and the electrolyser system will be delivered in 2021.

For further information,please contact:

Jon André Løkke,CEO,+47 907 44949

Bjørn Simonsen,VP Investor Relations & 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. 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.

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