NEL ASA: NEL is Increasing Its Share in Hyme AS, a Provider of Design and Technical Solutions for Hydrogen Refuelling Stations

Regulatory News:

NEL ASA (OSE:NEL)

Through a 100% owned subsidiary, NEL ASA ("NEL”) has increased its ownership in Hyme AS, a company providing design and technical solutions for hydrogen refuelling stations, from 31% to 56.8%. NEL thus has majority in Hyme AS and the increase in ownership is part of NEL’s strategy to grow within the hydrogen refuelling market. The increase has been done by way of a share issue in Hyme AS.

Hyme AS was established in mid 2014 by NEL Hydrogen together with two other Norwegian partners and one Swedish partner. The partnership in Hyme AS brings together extensive expertise in the design and delivery of hydrogen refuelling stations with the aim to take part in an emerging market worldwide.

NEL Hydrogen delivered the world’s first publically available hydrogen refuelling station in Iceland in 2003. NEL Hydrogen offers solutions for both trucked-in hydrogen supply and on-site electrolytic production. NEL aims to deliver a complete solution, from production of hydrogen to refuelling of vehicles through the engagement and ownership in Hyme AS, a company builds on decades of experience with designing and operating hydrogen refuelling stations. This initiative is timed with the current global launch of hydrogen fuel cell electric vehicles. Through NEL’s already existing international presence, NEL and Hyme are well positioned to offer this concept globally as the market for hydrogen refuelling stations is growing.

About NEL

NEL ASA is a leading global supplier of hydrogen technology for industrial / energy purposes, and has made over 500 deliveries in more than 50 countries. The company's main products are hydrogen production plants based on water electrolysis, complete hydrogen stations for transport and renewable energy storage solutions. The company has its roots from the hydrogen activities of Norsk Hydro, which dates back to 1927. The company also has a number of patents related to tests for early detection and diagnosis of diseases.

Forward-looking statements:

This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company's current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

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