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

17 Jul 2023 18:25 CEST

(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.

More information:
Access the news on Oslo Bors NewsWeb site

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