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

06 Feb 2023 08:42 CET

(February 6, 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 12 million with HyCC for its H2eron project in Delfzijl,
Netherlands. Kraftanlagen Energies & Services has been contracted for the FEED
study related to the project.

SkyNRG will use the hydrogen to produce sustainable aviation fuel (SAF), made
from industrial byproducts and residue streams, such as used cooking oil. HyCC
recently received the environmental permit for the project, and the company is
working towards a final investment decision (FID) in 2024, in close alignment
with SkyNRG and its partners.

"H\2\eron will have a great positive impact on emission reductions from the
aviation sector, and we are proud to be selected as the supplier of our well
-proven electrolyser technology to this exciting and important project", says
Hans Hide, Nel's Chief Project Officer. "We are also excited to work with
Kraftanlagen on this project, a professional EPC company. This allows Nel to
focus on its core scope while still bringing a competitive solution for the
hydrogen production system to the customer."

"Reliable supplies of green hydrogen are key to decarbonizing sectors such as
the aviation industry. We build on decades of experience in large-scale
electrolysis and are excited to move to the next phase of the project with these
strong partners to lay the foundation for the new hydrogen economy", says Marcel
Galjee, Managing Director of HyCC

"We are proud to bring our proven EPC expertise to this lighthouse project. This
project will significantly support the decarbonization of the aviation industry.
It is important that large-scale green hydrogen production plants now become
reality and H2eron will provide for more sustainable aviation. At Kraftanlagen,
we are committed to bring these projects to execution and make green hydrogen
available", says Alfons Weber, CEO of Kraftanlagen Energies & Services.

This is a firm purchase order for alkaline electrolyser equipment. Electrode
production is estimated to commence in Q4 2025.

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 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.

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.

More information:
Access the news on Oslo Bors NewsWeb site

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