(Oslo, September 5, 2018) Nel ASA ("Nel") today announced that it has invested
USD 5 million into Nikola Motor Company ("Nikola") as part of their C-round
financing. On August 6, 2018, Nikola announced that they had secured USD 100
million investment (pre-money valuation of USD 1.1 billion) in the current C
-round and that the process to raise more than USD 200 million was progressing
well. This USD 5 million investment is in line with earlier communications from
Nel and further strengthens the partnership and collaboration between Nel and
Nikola.

"We fully support Nikola in their exciting journey to revolutionize the heavy
-duty trucking industry and look forward to strengthening our collaboration even
further with this equity investment. Nikola intends to build a U.S. nationwide
network of hydrogen stations for zero-emission truck and passenger vehicles, and
they are front runners in a massive transportation technology shift. On August
22, Nel announced the construction of the world's largest electrolyzer
manufacturing plant, which will fully support Nikola's ambitions to outcompete
fossil alternatives," says Jon André Løkke, Chief Executive Officer of Nel.

Nikola Motor Company is pioneering hydrogen-electric renewable technology within
heavy-duty transportation. Nikola has an ambition to build a network of 700
hydrogen fueling stations across North America by 2028 and has been awarded an
800-truck order commitment from Anheuser-Busch, the total number of truck pre
-orders is currently exceeding 11,000. Nikola and Nel announced earlier this
year a multi-billion NOK partnership where Nel will deliver 448 electrolyzers
and associated hydrogen production equipment for the fueling network.

"To say we have come a long way in 2018 is an understatement. Nikola's business
model has been vetted, and the investment world is taking notice. The C-round
financing is progressing well and we are proud to have Nel as part of the new
equity owners as they already hold an integrated role in our story. Together,
Nikola and Nel pave the way for an emissions-free future," says Trevor Milton,
CEO of Nikola.

ENDS

For further information, please contact:

Jon André Løkke, CEO, Nel ASA, +47 907 44 949

Bent Skisaker, CFO, +47 46 82 16 93

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. Since its
foundation in 1927, Nel has a proud history of development and continual
improvement of hydrogen plants. Our hydrogen solutions cover the entire value
chain from hydrogen production technologies to manufacturing of hydrogen fueling
stations, providing all fuel cell electric vehicles with the same fast fueling
and long range as conventional vehicles today.