Nel ASA: Awarded purchase order for two hydrogen fueling stations in South Korea

(Oslo, 11 March 2019) Reference is made to the announcement of February 22, where Nel Korea Co., Ltd., a subsidiary of Nel ASA in Korea received notice of bid winner for two additional stations in South Korea. Nel Korea has now received a purchase order for the two H2Station® hydrogen fueling stations from Public Procurement Service (PPS) on behalf of Gangwon Technopark.

“We are happy to announce that after negotiations with PPS on behalf of Gangwon Technopark, we have received a purchase order to deliver two additional stations in South Korea, which today is one of the most important and fastest growing markets for hydrogen mobility,” says Simon Choi, Sales Director and VP, Nel Korea.

The value of the contract is around EUR 2.8 M, and the H2Station® units are scheduled to be installed in Gangneung and Samcheok during 2019.

ENDS

For further information, please contact:

Jon André Løkke, CEO, Nel ASA, +47 907 44 949

Bjørn Simonsen, VP Market Development & Public Relations, +47 971 79 821

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. We serve industries, energy and gas companies with leading hydrogen technology. Since its origns in 1927, Nel has a proud history of development and continual improvement of hydrogen plants. Our hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles today.

About Nel Korea Co., Ltd.

Nel Korea is a subsidiary of Nel ASA, dedicated to sales and service of H2Station® hydrogen fueling equipment and stations in Korea. Established to facilitate sales, installation and operation of H2Station® in Korea. H2Station® technology from Nel is renowned for reliable and high-performance hydrogen fueling and compact station design.

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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