Nel ASA: Selected by Iberdrola as preferred supplier for a 20 MW green fertilizer project in Spain

(Oslo, 3 November 2020) Nel Hydrogen Electrolyser, a division of Nel ASA (Nel,
OSE:NEL), has been selected as preferred supplier by Iberdrola for a 20 MW PEM
solution for a green fertilizer project in Spain. Contract award is subject to
mutual agreement on the final commercial terms. The hydrogen plant is scheduled
to commence operations in 2021.

"We are very excited and honored that Iberdrola prefer to use a PEM electrolyser
solution from Nel for this landmark green fertilizer project. It is a true
testament to our PEM platform, which has been deployed all over the world for
several decades. We continuously work to develop larger systems, and with this
project our PEM platform will be designed into a 20 MW solution. We have over
the course of the last year been working on both alkaline and PEM large-scale
solutions, which serve different customer needs, and we look forward to provide
our PEM solution for this project," says Filip Smeets, SVP Nel Hydrogen
Electrolyser, Nel Hydrogen Fueling.

Iberdrola, one of the largest electricity utilities in the world, has together
with a world-leading fertilizer manufacturer Fertiberia launched a project to
establish the largest green hydrogen plant in Europe. Located in Puertollano,
Spain it will feature a 100 MW photovoltaic plant, a battery installation with a
storage capacity of 20 MWh, and a 20 MW electrolyser. The hydrogen produced in
the project will primarily be used for green fertilizer production. The 20 MW
electrolyser is scheduled to commence operations in 2021.

Contract award is subject to mutual agreement on the final agreement on terms
and conditions, technical details, and board approval.

ENDS

For further 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. Our
roots date back to 1927, and since then, we have had a proud history of
development and continuous improvement of hydrogen technologies. Today, our
solutions cover the entire value chain: from hydrogen production technologies to
hydrogen fueling stations, enabling industries to transition to green hydrogen,
and providing fuel cell electric vehicles with the same fast fueling and long
range as fossil-fueled vehicles - without the emissions.