Nel ASA: Receives purchase order for two additional hydrogen fueling stations in Korea

(Oslo, 4 December 2019) Nel Korea Co., Ltd., a subsidiary of Nel ASA (Nel, OSE:NEL) has received a purchase order from Hydrogen Energy Network Co., Ltd. (HyNet) for two additional H2Station® hydrogen fueling stations in Korea.

"With the latest purchase order, we're up to a total of 12 H2Station® orders in Korea in 2019. We are very pleased with this progress, and happy that we can continue to help establish a solid network of hydrogen fueling stations in Korea," says Jens Egholt, Global Sales Director for Nel Hydrogen Fueling.

The value of the purchase order is around EUR 2.7 million. HyNet is a special purpose company established to roll out 100 hydrogen fueling stations in Korea by 2022, as part of the national ambition in Korea to have more than 300 stations operational by the same year.

ENDS

For further information, please contact:

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

Bjørn Simonsen, VP Investor Relations and Corporate Communication, +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 origins 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 subsidiary of Nel ASA. Dedicated sales and service company for H2Station® hydrogen fueling equipment and stations in Korea. Established in to facilitate the sales, installation and operation of H2Station® in Korea. H2Station® technology from Nel is renowned for reliable and high-performance hydrogen fueling for FCEVs 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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