NEL-ASA

Nel ASA (“Nel”) announces the construction of the world’s largest electrolyzer manufacturing plant, fully automated and able to deliver the most efficient electrolyzers at a game changing cost. The facility will have a capacity of 360 MW/year, approximately ten times the current production capacity, and will accommodate the multi-billion NOK order from Nikola Motor Company (Nikola). The plant will be an extension of the current facility at Notodden, Norway, with total planned investments of around NOK 150 million.

“We want to change the world and make renewable hydrogen mainstream. As a market leader, Nel is stepping up to make available technology that can outcompete fossil alternatives. This will be the world’s largest electrolyzer manufacturing plant, fully automated and designed according to lean manufacturing principles,” says Jon André Løkke, Chief Executive Officer of Nel.

During 2018, the Notodden facility was expanded from a production capacity of 25 to 40 MW/year. After the first stage expansion, Nel was awarded a contract for the delivery of 448 electrolyzers to Nikola as part of Nikola's development of a hydrogen station infrastructure in the US. Under the multi-billion NOK contract, Nel will deliver up to 1,000 MW of electrolysis plus fueling equipment.

“We already have the largest and most sophisticated manufacturing plant for hydrogen fueling equipment. Today, we confirm our leadership position also within electrolyzer manufacturing, which will enable us to offer complete solutions at a benchmark price. The target is clear: customers should be able to switch from fossil to renewable solutions without compromising on cost,” Løkke says.

Nel will formally kick-off the project during the second half or 2018. The facility will be operational in early 2020 and when fully ramped up will be able to deliver up to 360 MW of electrolyzers per year.

The expansion of the Notodden facility represents investments of approximately NOK 150 million and will add 30 to 40 new employees.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180822005567/en/

Contact:

Nel ASA
Jon André Løkke, +47 907 44 949
CEO
or
Bjørn Simonsen, +47 971 79 821
VP Market Development and Public Relations

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