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Nel ASA: Nel will supply alkaline electrolyzer system to Solar Foods

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OSLO, Norway, March 17, 2022–(BUSINESS WIRE)–Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA (Nel, OSE:NEL), has received an order to supply an alkaline electrolyser system that produces environmentally friendly hydrogen for food production from COtwo and to provide electricity.

Solar Foods’ new production facility, called Factory 01, is under construction in Vantaa, Finland. According to the Company’s estimates, commercial production of Solein® should begin in the first half of 2023 and Factory 01 will serve as a platform for Solar Foods to ramp up production. Solein is produced by a bioprocess in which microorganisms feed on gases (carbon dioxide, hydrogen and oxygen) and small amounts of nutrients.

“This project shows us again the growing possibilities of green hydrogen solutions. We are very pleased to be working with Solar Foods,” said Henning Langås, Sales Director of Nel Hydrogen Electrolyser AS.

“We are delighted that the construction of Factory 01 is proceeding as planned. Nel provides us with technology for important process steps. We cannot wait for the plant to be operational in 2023,” says Ville-Veikko Vaaranmaa, Project Manager at Solar Foods.

The total value of the order is around 2 million euros and the delivery of the equipment is expected in late 2022 or early 2023.

About Nel ASA | www.nelhydrogen.com

Nel is a global company specialized in providing optimal solutions for the production, storage and distribution of hydrogen from renewable energies. We provide industrial, energy and gas companies with state-of-the-art hydrogen technology. With roots dating back to 1927, we have a proud history of continually developing and improving hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industry to transition to green hydrogen and giving fuel cell electric vehicles the same fuel supply and autonomy than fossil fuel vehicles, but without polluting emissions.

This information is subject to a disclosure requirement pursuant to Art. 5-12 of the Norwegian Securities Dealing Act. The information was made available as inside information under the EU Market Abuse Regulation and made public by Wilhelm Flinder, Head of Investor Relations at NEL ASA, on the date and time indicated.

The source language in which the original text is published is the official and authorized version. Translations will be included for better understanding. Only the version in the language that was originally published is legally valid. Therefore, compare the translations with the original language version of the publication.

View the original version on businesswire.com: https://www.businesswire.com/news/home/20220316006111/en/

contacts

Kjell Christian Bjørnsen, CFO, phone: +47 917 02 097
Wilhelm Flinder, RI Chief, phone: +47 936 11 350
Email: [email protected]

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