(November 10, 2025 - Oslo, Norway) Reference is made to the press release issued by GreenH AS on November 7, 2025, announcing that the company has taken investment decisions and is progressing its hydrogen projects as planned. Nel ASA (Nel, OSE: NEL) is pleased to announce that it has entered into an agreement with GreenH to be the technology provider for the Enova-supported projects in Kristiansund and Slagentangen.

GreenH develops, builds, owns, and operates hydrogen production facilities based on renewable energy. The company aims to establish a network of distributed hydrogen production sites to enable decarbonization in the maritime, transport, and industrial sectors. GreenH focuses on scalable solutions located close to end users, reducing logistics costs and supporting the development of efficient, regional hydrogen value chains.

The facilities in Kristiansund and Slagentangen are intended to supply green hydrogen to industrial and maritime users and form part of GreenH's broader efforts to establish a network of distributed hydrogen production in Norway.

"We have worked together with Nel on finding the right electrolyser concept for Kristiansund and Slagentangen over a longer period. We are very pleased with the signing of this agreement and thereby bringing in Nel as a partner on these two projects that are very important for GreenH," says Morten Solberg Watle, CEO of Green H AS

"We are pleased to support GreenH in developing regional hydrogen infrastructure in Norway, and we look forward to working together as they move forward," says Håkon Volldal, CEO and President of Nel ASA.

Nel has entered into an agreement regarding delivery of electrolyser equipment, including associated engineering and technical support. Final scope, size, and delivery schedules will be confirmed later, but will be minimum 10 MW per site, totaling more than 20 MW.

ENDS
 

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of IR, Communications & Marketing +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.