(Oslo, 25 October 2021) Nel Hydrogen US, a subsidiary of Nel ASA (Nel, OSE:NEL),
has received a contract for PEM electrolyzer equipment from a leading global
fuel cell company.

Nel Hydrogen US has received a purchase order for PEM electrolyzer equipment
from an undisclosed, leading stationary fuel cell OEM. The purchase order has a
value of approximately USD 2.6 million, and the equipment will be delivered
between 2022 and 2024. Nel will also be providing design consulting services as
part of the project.

ENDS

For additional information, please contact:

Jon André Løkke, CEO, +47 907 44 949

Kjell Christian Bjørnsen, CFO, +47 917 02?097

About Nel ASA | www.nelhydrogen.com

Nel is a global, dedicated hydrogen company, delivering optimal solutions to
produce, store and distribute hydrogen from renewable energy. We serve
industries, energy and gas companies with leading hydrogen technology. Since its
origins in 1927, Nel has a proud history of development and continual
improvement of hydrogen plants. Our hydrogen solutions cover the entire value
chain from hydrogen production technologies to manufacturing of hydrogen fueling
stations, providing all fuel cell electric vehicles with the same fast fueling
and long range as conventional vehicles today.