OSLO, Norway, Dec. 3, 2024 — Nel Hydrogen Electrolyser AS, a Nel ASA (Nel, OSE:NEL) subsidiary, has secured a new contract with Samsung C&T Corporation Engineering & Construction Group (‘Samsung C&T’) for 10 MW of alkaline electrolyser equipment. This approximately EUR 5 million order will support Samsung C&T’s inaugural pilot nuclear-connected (pink) hydrogen production facility.

This follows an earlier contract with Samsung C&T this year for a solar-powered off-grid project. This new demonstration plant will validate the commercial viability of nuclear pink hydrogen production, leveraging excess nuclear power to boost energy efficiency.

“Samsung C&T’s ambitious hydrogen plans make this a rewarding collaboration for us. We’re pleased to once again provide electrolyser technology for this significant project,” said Håkon Volldal, President and CEO of Nel ASA.

Samsung C&T (Construction and Trading) is a global leader in engineering, procurement, and construction. The company’s expanding green hydrogen initiatives reinforce its commitment to the energy transition.

“As Korea’s first nuclear-powered hydrogen production project, reliability in electrolysis technology was paramount. Nel’s technology met our requirements perfectly. We’re excited to partner with Nel again on this pink hydrogen project, and look forward to expanding our collaboration in clean hydrogen,” stated Samsung C&T’s Head of Energy Solution Business Unit, Byung Soo Lee.

This firm purchase order encompasses alkaline stacks and balance-of-stacks (BoS). Electrode production will occur at the Herøya facility in Norway, home to the world’s first fully automated electrolyser production line.

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | 
Established in 1927, Nel is a leading global pure-play hydrogen technology company. Specializing in electrolyser technology for renewable hydrogen production and hydrogen fueling equipment for vehicles, Nel’s products are vital for decarbonizing industries like transportation, refining, steel, and ammonia production.

This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act. This information was issued as inside information pursuant to the EU Market Abuse Regulation, and was published by Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time provided.

About Samsung C&T
Samsung C&T Engineering & Construction Group boasts 50 years of global experience. Operating under the principle of ‘trusted builder’, the group focuses on commercial/residential buildings, civil infrastructure, and plant construction. Notable projects include the Burj Khalifa (UAE), Petronas Towers (Malaysia), Riyadh Metro (Saudi Arabia), and the Barakah Nuclear Power Plant (UAE).

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