Nel ASA: Receives purchase order for 5 MW of containerized PEM electrolysers

21 Jan 2025 15:26 CET

(January 21, 2025 - Oslo, Norway) Nel Hydrogen US, a subsidiary of Nel ASA (Nel,
OSE:NEL), has received a purchase order for two containerized PEM electrolyser
units for about USD 7 million. The two MC500 electrolysers, 2.5 MW each, will be
used to produce hydrogen for a new steel mill in the US.

The undisclosed customer, one of the largest US steel producers, already uses
Nel's PEM electrolysers to generate hydrogen at two other sites in the US.

"We are delighted to receive a purchase order from an existing customer, as it
signifies their satisfaction with the performance of our electrolysers," says
Nel's Chief Commercial Officer, Todd Cartwright.

"We continue to see an increasing demand for our containerized PEM electrolysers
for smaller installations as this reliable turn-key concept offers easy outdoor
installation and operation," he says.

This is a firm purchase order for two PEM MC500 units that will be produced
Nel's manufacturing facility in Wallingford, Connecticut.

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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