(October 2, 2024 - Oslo, Norway) Nel ASA's (Nel, OSE:NEL) EPC partner Saipem
unveils IVHYT 100, a scalable and modular 100 MW green hydrogen solution
leveraging Nel's technology, advancing the decarbonization of hard-to-abate
industries and renewable hydrogen production.

The innovative renewable hydrogen generation solution has been designed and
industrialized to be scalable, modular, and to facilitate the installation and
commissioning of large-scale systems. IVHYT 100 is powered by Nel's alkaline
electrolysers, which have been tested in the market for decades, demonstrating
world-class robustness, durability, and energy efficiency, making it the ideal
choice for businesses seeking to optimize their operations and total cost of
ownership.

The project is part of a collaboration between the two companies, where Nel, as
the technology provider, will offer its alkaline and PEM (Proton Exchange
Membrane) electrolyser technology as well as ancillary technical services, and
Saipem, as the engineering service provider and EPC contractor, will be
responsible for the basic design, detailed engineering, procurement and
construction of the overall green hydrogen facilities.

"The IVHYT 100 concept represents a significant step forward to promote
innovative and sustainable solutions in the field of renewable hydrogen. Indeed,
we aim to meet the increasing demand to reduce carbon emissions in challenging
industries by utilizing renewable hydrogen. In addition, we focus on creating
hydrogen derivatives like ammonia, methanol, and sustainable fuels," says Guido
d'Aloisio, Chief Commercial Officer of Saipem

"We are proud that Saipem, a world-leading Engineering Procurement and
Construction company actively contributing to the energy transition, has
selected Nel and our technology. With this solution, we are simplifying large
-scale renewable hydrogen production," says Håkon Volldal, President and CEO of
Nel.

The IVHYTM 100 concept is displayed at Saipem's booth at the World Hydrogen Week
in Copenhagen from 30 September to 4 October.


ENDS


Contact information Nel ASA:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350
Lars Nermoen, Head of Communications, +47 902 40 153

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 Alkaline
and PEM electrolyser technology for production of renewable hydrogen. 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.


Contact information Saipem:
Media relations: media.relations@saipem.com
Investor Relations: investor.relations@saipem.com
Contact point for retail investors: segreteria.societaria@saipem.com

About Saipem | www.saipem.com
Saipem is a global leader in the engineering and construction of major projects
for the energy and infrastructure sectors, both offshore and onshore. Saipem is
"One Company" organized into business lines: Asset Based Services, Drilling,
Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics &
Industrialized Solutions. The company has 7 fabrication yards and an offshore
fleet of 21 construction vessels (of which 17 owned and 4 owned by third parties
and managed by Saipem) and 15 drilling rigs, of which 9 owned. Always oriented
towards technological innovation, the company's purpose is "Engineering for a
sustainable future". As such Saipem is committed to supporting its clients on
the energy transition pathway towards Net Zero, with increasingly digital means,
technologies and processes geared for environmental sustainability. Listed on
the Milan Stock Exchange, it is present in more than 50 countries around the
world and employs about 30,000 people of over 120 nationalities.