Nel ASA: Receives purchase orders for three additional hydrogen fueling stations in Korea

(Oslo, 8 June 2020) 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 three additional H2Station® hydrogen fueling stations in Korea.

"We are happy to receive the purchase orders for three additional hydrogen fueling stations. It is another milestone after we went operational with our first H2Station® in Chungbuk province last week", says Yong-Kyu Lee, Sales Director for Nel Korea.

The value of the purchase order is around EUR 4 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, +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. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.

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 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. Our roots date back to 1927, and since then, we have had a proud history of development and continual improvement of our hydrogen plants. Today, our hydrogen solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles… without the emissions.

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