Nel ASA: Receives purchase order for 40 MW electrolyser equipment from Bondalti

OSLO, Norway, July 17, 2023 /PRNewswire/ -- Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (OSE:NEL), has signed a contract for 40 MW of alkaline electrolyser equipment for about EUR 11 million with Bondalti for its first phase of the H2 Enable project in Estarreja, Portugal.

"We continue to experience good momentum for our electrolysers, and we are happy to partner with a quality company such as Bondalti, an exciting client committed to decarbonisation", says Nel's CEO, Håkon Volldal.

Bondalti is the largest company in the Portuguese chemical industry. The electrolyser plant, which is aimed to commence production in the beginning of 2026, will inject green hydrogen into the natural gas grid, supply long-haul transport and cater for Bondalti's own hydrogen demand for chemical processes.

The client's strategic objectives include a significant incorporation of green hydrogen into its value chain, with the aim of decarbonising current operations and, at the same time, contributing towards the climate and energy targets established at European level, specifically those of the "Fit for 55" initiative for the chemicals sector.

"Our commitment to decarbonisation is not new, we already incorporate 40% of renewable energy in our operations, and this value will be 100% by 2030. The H2 Enable project is another main milestone for the reduction of the carbon footprint in the Estarreja Chemical Complex, as well as a major contribution to decarbonize other hard-to-abate sectors", says Bondalti's COO, André de Albuquerque.

This is a firm purchase order for alkaline stacks. Wood has been contracted as EPC for the FEED study. The electrodes will be produced in the Herøya facility in Norway, 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 | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen technology company with a global presence. The company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. Nel's product offerings are key enablers for a green hydrogen economy, making it possible to decarbonize various industries such as transportation, refining, steel, and ammonia.

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.

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