Share capital increase registered

Reference is made to the stock exchange notice published by NEL ASA (the "Company", ticker "NEL") on 28 November 2014 regarding the completed private placement of 50,000,000 new shares, each with a par value of NOK 0.20, at a price of NOK 1.30 per share (the "Private Placement").

The share capital increase pertaining to the 50,000,000 new shares issued in the Private Placement has now been registered with the Norwegian Register of Business Enterprises.

The Company's new registered share capital is NOK 77,785,820.80 corresponding to a total of 388,929,104 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@nel-hydrogen.com