NEL ASA: Results for the Fourth Quarter 2014

Regulatory News:

NEL ASA (OSE:NEL):

Please find enclosed the interim report for the fourth quarter of 2014. The report will also be available on NEL's webpage: http://www.nel-hydrogen.com If you require a printed copy of the report please send your name and address to: info@nel-hydrogen.com

http://mb.cision.com/Public/115/9723027/b8350bbbccd70a10.pdf

Highlights

· In the fourth quarter, NEL ASA finalized the acquisition of 100% of the shares in NEL Hydrogen AS for a total consideration of NOK 120 million.

· NEL Hydrogen AS signed two contracts for new hydrogen electrolyser plants during the fourth quarter with a total value of approximately NOK 25 million.

· The full-year operational revenue for NEL Hydrogen AS was NOK 69.3 million with an operating profit (EBIT) of NOK 14.5 million.

· NEL ASA reported a net loss of NOK 1.01 million for the quarter after booking transaction costs of NOK 1.9 million, and depreciation of excess value related to the acquisition of NEL Hydrogen AS in accordance with IFRS accounting standards of NOK 3.5 million. Operational revenue was NOK 12.1 million.

· In the fourth quarter NEL ASA raised NOK 135 million in gross proceeds through share issues.

· An extraordinary general meeting on 19 December elected a new Board of Directors consisting of: Martin Nes (chairman), Øystein Stray Spetalen, Jan Christian Opsahl, Eva Dugstad, Anne Marie Gohli Russell and Harald Arnet (deputy board member).

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