CONTRACT AWARD

New NEL Hydrogen AS, a 100 % subsidiary of NEL ASA (the Company) and a global leader in the supply of large scale hydrogen-based atmospheric electrolyser plants for industrial / energy purposes, announces today that it has received a purchase order for one hydrogen plant to be delivered in South America, to a new client of the Company. The agreement has a firm value of approximately NOK 12 million, and may be extended to a further four plants in the future.

About the Company:

NEL ASA is a leading global supplier of hydrogen technology for industrial / energy purposes, and its electrolyser technology has been delivered to more than 500 plants in more than 50 countries. The Company's main products are hydrogen production plants based on water electrolysis, complete hydrogen stations for transport and renewable energy storage solutions. The Company has its roots from the hydrogen activities of Norsk Hydro, which dates back to 1927. The Company also has a number of patents related to tests for early detection and diagnosis of diseases.

Contact:

Lars Christian Stugaard

CEO

+47 23 01 49 06

+47 47 63 05 22

This information is subject of the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.