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This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Nel ASA: Awarded Purchase Order for a 2 MW PEM Electrolyzer in Switzerland and Enters a 30 MW Framework Contract

February 25, 2019

OSLO, Norway--(BUSINESS WIRE)--Feb 25, 2019--Nel Hydrogen Electrolyser, a division of Nel ASA (Nel, OSE:NEL), has received a purchase order for a 2 megawatt (MW) containerized Proton PEM® electrolyzer, as part of a 30 MW framework agreement with Hydrospider AG, an affiliated company of H2 Energy. The electrolyzer will be used to produce green hydrogen for heavy-duty hydrogen trucks from Hyundai Motor Company, which will begin operation in Switzerland during late 2019. The framework agreement represents the first phase of 60 – 80 MW needed to supply hydrogen for the total expected 1,000 trucks and other applications.

“We are proud to announce that we have been awarded a framework agreement over 30 MW of our Proton PEM® Megawatt platform electrolyzers to produce green hydrogen for the 1,000 trucks being delivered by Hyundai to Switzerland. Hydrospider will be producing and delivering green hydrogen for the Hyundai heavy-duty hydrogen trucks in the required quantity and quality. It is a great pleasure working with H2 Energy, whose core values around clean energy and de-carbonization align so closely with ours,” says David Bow, Senior Vice President of Nel.

The purchase order, which represents the first containerized megawatt Proton PEM electrolyzer delivered by Nel in Europe, has a value exceeding USD 3 million, and will be installed during second half of 2019.

H2 Energy is working together with various partners to establish a nation‐wide network of hydrogen stations and corresponding supply chain in Switzerland. Their target is to develop solutions for application of renewable hydrogen in the maritime, rail, stationary sectors, in addition to hydrogen‐powered commercial vehicles such as trucks and buses. H2 Energy is focusing on producing only renewable energy based hydrogen to contribute to the decarbonization of various sectors.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190225005812/en/

CONTACT: For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Bjørn Simonsen, VP Market Development & Public Relations, +47 971 79 821

www.nelhydrogen.com

KEYWORD: EUROPE NORWAY SWITZERLAND

INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY TECHNOLOGY OTHER TECHNOLOGY TRANSPORT TRUCKING MANUFACTURING LOGISTICS/SUPPLY CHAIN MANAGEMENT AUTOMOTIVE MANUFACTURING NATURAL RESOURCES OTHER NATURAL RESOURCES AUTOMOTIVE RETAIL OTHER RETAIL GENERAL AUTOMOTIVE

SOURCE: Nel ASA

Copyright Business Wire 2019.

PUB: 02/25/2019 12:27 PM/DISC: 02/25/2019 12:27 PM

http://www.businesswire.com/news/home/20190225005812/en