OSLO, Norway, Jan. 21, 2025 - Nel Hydrogen US, a subsidiary of Nel ASA (Nel) (OSE: NEL), has received a purchase order for two containerized PEM electrolyser units for about USD 7 million. The two MC500 electrolysers, 2.5 MW each, will be used to produce hydrogen for a new steel mill in the US.

The undisclosed customer, one of the largest US steel producers, already uses Nel's PEM electrolysers to generate hydrogen at two other sites in the US.

"We are delighted to receive a purchase order from an existing customer, as it signifies their satisfaction with the performance of our electrolysers," says Nel's Chief Commercial Officer, Todd Cartwright.

"We continue to see an increasing demand for our containerized PEM electrolysers for smaller installations as this reliable turn-key concept offers easy outdoor installation and operation," he says.

This is a firm purchase order for two PEM MC500 units that will be produced Nel's manufacturing facility in Wallingford, Connecticut.

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.