(Oslo, 25 March 2021) Nel ASA (Nel, OSE:NEL) has entered into an MoU with Haldor
Topsoe with the intent to offer customers end-to-end green ammonia and methanol
solutions, based on globally leading technologies from the two companies.

"We are very excited to join forces with Haldor Topsoe for possible future
development of end-to-end green ammonia and green methanol solutions to
customers, both which are widely regarded as important carbon free fuels and
energy carriers for the future. This is a market that is expected to grow
significantly in the years to come and we look forward to working with Haldor
Topsoe to deliver complete solutions to customers, based on demonstrated
technologies available today" says Jon André Løkke, CEO of Nel ASA.

Under the MoU, Nel will bring extensive experience within alkaline and PEM
electrolysis technology and proprietary hardware, as well as system engineering
for the hydrogen production. Haldor Topsoe will supply engineering, proprietary
hardware, catalyst and technical service for its ammonia and methanol
technologies.

"We are very pleased to take the next step in our excellent relation with Nel.
Together, we can offer end-to-end renewable electricity to green ammonia and
green methanol solutions based on the most reliable technologies available
today. Driven by our vision to be recognized as the global leader in carbon
emission reduction technologies by 2024, we are excited to offer innovative and
attractive low-carbon solutions to our customers. This cooperation speaks
directly to our customers' needs as we see massive interest from the market
requesting basic engineering, license, and process guarantee in one package,"
says Amy Hebert, Chief Commercial Officer of Haldor Topsoe.

The MoU is a non-exclusive agreement that will serve as a basis for further
development of a collaboration agreement which is expected to complete later
this year.

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.