NEL ASA: Awarded NOK 25 million contract to build a hydrogen refuelling station with on-site hydrogen production from solar energy

Regulatory News:

NEL ASA (NEL) through its subsidiaries, NEL Hydrogen AS and H2 Logic A/S, has been awarded a contract of approximately NOK 25 million for the delivery of a hydrogen refuelling station with integrated on-site hydrogen production to Uno-X Hydrogen AS.

"We are proud to announce this landmark agreement with Uno-X Hydrogen, that leverage NEL’s combined competence and technology offering within hydrogen production and refuelling stations. The project will take advantage of NEL’s unique technology solution, where excess solar power is converted directly into low-cost hydrogen fuel at the hydrogen refuelling station and dispensed into hydrogen cars,” says Jon André Løkke, CEO of NEL.

Uno-X Hydrogen will build a network of hydrogen refuelling stations, where fuel cell electric vehicles (FCEVs) can operate between all the major cities in Norway within 2020. Following the contract, NEL through its subsidiaries will deliver the hydrogen refuelling station with on-site hydrogen production in 2016.

"We see a lot of interest for such integrated hydrogen solutions, using renewable energy for carbon-free transportation, and expect this market to grow significantly in key areas like Japan, Germany and California,” says Løkke.

About NEL

NEL ASA is the first dedicated hydrogen company on the Oslo Stock Exchange. Since its foundation in 1927, NEL Hydrogen has a proud history of development and continual improvement of hydrogen plants. NEL is global a supplier of hydrogen solutions, covering the entire value chain from hydrogen production technologies to hydrogen refuelling stations for fuel cell electric vehicles. H2 Logic A/S is a leading manufacturer of H2Station® hydrogen refuelling stations that provides fuel cell electric vehicles with the same fast refuelling and long range as conventional vehicles today. www.nel-asa.com

About Uno-X Hydrogen

Uno-X Hydrogen AS is a joint venture, owned by Uno-X and NEL with 51 % and 49 % respectively. The joint venture will build a network of hydrogen refuelling stations, where fuel cell electric vehicles (FCEVs) can operate between all the major cities in Norway. The stations will be deployed in cities like Oslo, Bergen, Trondheim, Stavanger, Kristiansand, along with corresponding corridor locations. The target is that FCEVs can drive between the most populated cities in Norway within 2020.

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