Share capital increase registered

Reference is made to the stock exchange notice published by NEL ASA (the "Company", ticker "NEL") on 23 January 2015 regarding the completed subsequent offering of 10,000,000 new shares, each with a par value of NOK 0.20, at a price of NOK 1.30 per share (the "Subsequent Offering").

The share capital increase pertaining to the 10,000,000 new shares issued in the Subsequent Offering has now been registered with the Norwegian Register of Business Enterprises.

The Company's new registered share capital is NOK 79,785,820.80 corresponding to a total of 398,929,104 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