Nel ASA: Signs collaboration agreement with Yara related to green fertilizer project

(Oslo, 20 August 2019) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel, OSE:NEL), announced today the signing of a collaboration agreement with Yara International ASA (Yara, OSE:YARA), related to the previously announced PILOT-E funded green fertilizer project.

“We’re very happy to initiate this exciting project together with Yara towards developing efficient, green ammonia and fertilizer production solutions. The project is leveraging on the development of our next-generation pressurized alkaline electrolyzer, which is being designed for larger capacity, lower cost and even more operational flexibility than our current generation electrolyzers. It is an honor to work closely with Yara to develop efficient, green ammonia production solutions, triggered by the PILOT-E scheme,” says Jon André Løkke, Chief Executive Officer of Nel.

Reference is made to the stock exchange announcement of 14 December 2018, announcing a grant award under the PILOT-E scheme for the development and realization of a green fertilizer project together with Yara. The ambition of the project is to realize zero-emission fertilizer production using innovative solutions and cost-efficient hydrogen production from electrolysis based on renewable energy.

The next-generation, pressurized alkaline electrolyzer developed by Nel will be installed at the Yara facilities in Porsgrunn for piloting in an industrial environment and will have a capacity of approximately 5 MW. After the project, subject to certain criteria, ownership of the electrolyzer will be transferred to Yara for continued operation in the pilot plant.

ENDS

For additional 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. 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.