(June 29, 2023 - Oslo, Norway) Reference made to the press release issued on
December 20, 2022, regarding a Capacity Reservation Agreement (CRA). Nel
Hydrogen Inc., a subsidiary of Nel ASA, (Nel, OSE:NEL) has now received a firm
purchase order from the undisclosed US energy company for delivery of 16
hydrogen fueling stations to be deployed in California, US.
The total value of the purchase order is about USD 24 million, including the
previously announced Capacity Reservation Agreement fee of about USD 7 million.
The increase in total contract value from the CRA announcement in December
relates to the inclusion of installation assistance and commissioning services,
as well as service and maintenance agreements.
"We look forward to providing our hydrogen fueling equipment to this important
client and contributing to the deployment of hydrogen fueling infrastructure in
the US", says Robert Borin, Senior Vice President, Nel Fueling Division.
"This contract reflects a significant commitment to hydrogen in general, and to
Nel in particular," says Håkon Volldal, CEO. "This record-size contract is a
game changer for our Fueling division, amplifying the positive momentum
throughout the entire Nel organization as we continue to execute our bigger
-better-focused strategy".
Expected delivery of the first fueling equipment is scheduled in Q4 2023. In
addition, Nel has entered into a framework agreement with the customer covering
potential future purchase orders for fueling equipment.
ENDS
For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in
electrolyser technology for production of renewable hydrogen, and hydrogen
fueling equipment for road-going vehicles. Nel's product offerings are key
enablers for a green hydrogen economy, making it possible to decarbonize various
industries such as transportation, refining, steel, and ammonia.
This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time
provided.