Share capital increase registered

Reference is made to the stock exchange announcement by NEL ASA (the "Company" or "NEL") on 5 November 2014 regarding the result of the NOK 35 million rights issue (the “Rights Issue”).

The share capital increase pertaining to the 53,846,154 new shares issued in the Rights Issue has now been registered with the Norwegian Register of Business Enterprises.

The Company's new registered share capital is NOK 67,785,821, corresponding to a total of 338,929,104 shares with a nominal value of NOK 0.20 per share.

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

For further information, please contact:

Lars Christian Stugaard

Acting CEO

+47 23 01 49 06 / +47 47 63 05 22

lars.christian.stugaard@diagenic.com

About Us

NEL ASA is a leading global supplier of hydrogen technology for industrial / energy purposes, and has made over 500 deliveries 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.

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