Nel ASA: Receives purchase order from Collins Aerospace for U.S. Navy stacks

27 Mar 2025 21:40 CET

(March 27, 2025 - Oslo, Norway) Nel Hydrogen US, a subsidiary of Nel ASA (Nel,
OSE:NEL), has received a purchase order for PEM electrolyser stacks for about
USD 6 million from Collins Aerospace to be used by the U.S. Navy to produce
oxygen for critical life support onboard submarines.

"We are very proud of the long-standing partnership with Collins Aerospace and
our exclusive supply agreement to produce equipment that is crucial for
prolonged underwater submarine operations," says Nel's Chief Commercial Officer,
Todd Cartwright.

"This new order underscores the strength of our manufacturing capabilities and
quality standards, along with the trusted performance of our PEM electrolyser
technology," he says.

The stacks will be delivered over several years, with initial deliveries in late
2025. This order is the most recent in a series of deliveries to the client,
where Nel has a long track record of developing and delivering equipment for
this application.

The purchase order is for an undisclosed number of stacks that will be produced
at 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 IR, Communications and Marketing, +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.

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