OSLO, Norway, Dec. 12, 2025 /PRNewswire/ — Nel ASA (Nel) (OSE: NEL) is pleased to announce that following a seven-year development program, and now a successful start-up and production of clean hydrogen on the Next Generation Pressurized Alkaline prototype, the Board of Directors has taken the final investment decision to begin construction on up to 1 GW of production capacity for this technology platform in the Herøya facility, Norway. The project is supported by the EU Innovation Fund.

Development of the Next Generation Pressurized Alkaline system was initiated in 2018 and after rigorous testing of various smaller stacks, Nel has now completed full-scale testing of the prototype at Herøya Industripark, Norway, validating market-leading system efficiency. The company expects to launch the system commercially in the first half of 2026 and be able to deliver at scale in 2027.

Building on 100 years of technology experience, Nel’s Next Generation Pressurized Alkaline platform delivers a breakthrough in clean hydrogen economics, dramatically reducing system CAPEX and improving energy efficiency, driving down levelized cost of hydrogen (LCOH). This leap is expected to improve overall hydrogen production economics, and bridge critical funding gaps for hydrogen installations.

“Our new solution is extremely important for Nel as a company, but also for the clean hydrogen industry as a whole. A significantly improved levelized cost of hydrogen is expected to unlock business cases that were previously not viable without significant subsidies,” says Håkon Volldal, President and CEO of Nel.

The platform is based on a fully modularized, skid-based design where every module is pre-fabricated and factory-tested before shipment in standard container skids. This approach dramatically simplifies engineering, logistics, and installation and is expected to transform complex projects into streamlined product deliveries. The system is designed to operate reliably outdoors, where costs and deployment complexity are further reduced as no dedicated building construction is required.

Nel has been granted up to EUR 135 million in support from the EU Innovation Fund to industrialize the Next Generation Pressurized Alkaline platform, enabling a total annual production output of 4 GW. This funding covers up to 60% of relevant CAPEX and operational costs related to industrialization.

The initial 1 GW of production capacity is estimated at an investment of about NOK 300 million before grants. The EU grant is milestone based and this investment decision is expected to unlock in excess of EUR 10 million as a first payment. The CAPEX is expected to be incurred throughout 2026 and 2027. Overall, the CAPEX for this platform is significantly lower than for atmospheric alkaline production lines.

Following the commercialization and industrialization of the pressurized alkaline solution the company is looking into the book values of the two 500 MW atmospheric alkaline production lines currently idling at Herøya.

For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02 097
Wilhelm Flinder, Head of IR, Communications & Marketing +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 electrolyser technology company with a global presence. The company specializes in Alkaline and PEM technology for production of renewable hydrogen. 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 Flinder, Head of Investor Relations, Communications and Marketing, at Nel ASA on the date and time provided.

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BEIJING, Dec. 12, 2025 /PRNewswire/ — Uxin Limited (“Uxin” or the “Company”) (Nasdaq: UXIN), China’s leading used car retailer, today announced that it will release its financial results for the third quarter 2025 ended September 30, 2025, before the U.S. market opens on December 18, 2025.

Uxin’s management team will host a conference call on Thursday, December 18, 2025, at 8:00 A.M. U.S. Eastern Time (9:00 P.M. Beijing/Hong Kong time on the same day) to discuss the financial results. In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this conference including an event passcode, a unique access PIN, dial-in numbers, and an e-mail with detailed instructions to join the conference call.

Conference Call Preregistration: https://dpregister.com/sreg/10205104/1008c4d12c0

A telephone replay of the call will be available after the conclusion of the conference call until December 25, 2025. The dial-in details for the replay are as follows:

A live webcast and archive of the conference call will be available on the Investor Relations section of Uxin’s website at http://ir.xin.com/.

About Uxin
Uxin is China’s leading used car retailer, pioneering industry transformation with advanced production, new retail experiences, and digital empowerment. We offer high-quality and value-for-money vehicles as well as superior after-sales services through a reliable, one-stop, and hassle-free transaction experience. Under our omni-channel strategy, we are able to leverage our pioneering online platform to serve customers nationwide and establish market leadership in selected regions through offline superstores with inventory capacities ranging from 2,000 to 8,000 vehicles. Leveraging our extensive industry data and continuous technology innovation throughout more than ten years of operation, we have established strong used car management and operation capabilities. We are committed to upholding our customer-centric approach and driving the healthy development of China’s used car industry.

For investor and media enquiries, please contact:
Uxin Limited Investor Relations
Uxin Limited
Email: ir@xin.com

The Blueshirt Group
Mr. Jack Wang
Phone: +86 166-0115-0429
Email: Jack@blueshirtgroup.co

BEIJING, Dec. 12, 2025 /PRNewswire/ — In recent weeks, Chindata Group has announced two significant partnerships with HEC Group, advancing coordinated development across Shaoguan in Guangdong Province and Ulanqab in Inner Mongolia.

Together, the initiatives aim to integrate industrial production, high-density computing infrastructure and renewable energy into coordinated, multi-gigawatt clusters designed specifically for the demands of the AI era.

Both projects share a common objective: combining Chindata’s hyperscale data center expertise with HEC’s capabilities in electronic materials, power-electronics components and liquid-cooling technologies. The collaborations underscore the rising convergence of industrial manufacturing and AI compute infrastructure as demand grows for sustainable, high-density digital infrastructure.

Shaoguan: Building an AI-ready, Green Compute Campus

Chindata and HEC are expanding their partnership with the Shaoguan municipal government to develop a gigawatt-level, zero-carbon compute campus as part of a broader industrial ecosystem.

The first phase will be built on an approximately 132,000 m² site in the Qujiang Economic Development Zone. It is planned to provide 150 MW of IT capacity and will form the anchor for a long-term build-out toward multi-gigawatt scale.

The initiative also involves expanding regional grid capacity, enhancing renewable-power access, and establishing an upstream electronic-materials production base to support next-generation AI servers and advanced cooling technologies.

Together, these developments are expected to give strong momentum to Shaoguan’s ambitions to grow a competitive, hyperscale digital-industry cluster.

Ulanqab: China’s First Direct-Renewable AI Industrial Demonstration Zone

Chindata and HEC, in collaboration with the Ulanqab municipal government, are establishing China’s first gigawatt-scale, vertically integrated demonstration zone powered directly by dedicated, private-wire green electricity. This initiative follows an Integrated Energy-Compute-Production Model, combining renewable generation, grid infrastructure, AI compute capacity, and energy storage into a tightly coordinated regional ecosystem.

The project features a gigawatt-scale, low-carbon AI-ready data center campus that anchors regional energy demand, alongside HEC’s world-class electrode-foil production facilities, forming a fully integrated industrial-compute cluster. The regional ecosystem operates as a closed loop in which industrial activity drives compute demand, compute workloads drive energy consumption, and direct renewable access reduces costs and carbon emissions for both manufacturing and digital operations.

Together with the Shaoguan project, this collaboration demonstrates the shared strategy of combining hyperscale compute, renewable energy, and industrial capacity, while highlighting Ulanqab’s distinctive approach to regional innovation and vertically integrated, low-carbon infrastructure.

Unified Vision for Integrated, Low-Carbon AI Infrastructure

Chindata CEO Wu Huapeng said the two agreements highlight the accelerating convergence of clean energy and high-performance computing. He noted that Shaoguan’s advantages in renewable resources and Ulanqab’s exceptional wind-and-solar potential enable the company to replicate and scale a new generation of hyperscale, low-carbon data center campuses. Wu emphasized that Chindata will move quickly to advance project construction, integrate HEC Group’s strengths in high-performance electronic components and liquid-cooling technologies, and provide safe, efficient, and climate-responsible computing capacity tailored for a wide range of AI and industrial applications.

HEC Group Chairman Zhang Yushuai emphasized the company’s core capabilities—including electronic materials, advanced capacitors, fluorinated cooling liquids, liquid-cooling components, and AI-powered manufacturing lines—align naturally with Chindata’s AI infrastructure. He noted that both Shaoguan and Ulanqab offer significant potential for building an end-to-end AI-industry ecosystem, covering materials, intelligent manufacturing, AI-assisted R&D, embodied-intelligence robotics, and large-model training and inference. Zhang said HEC Group will work with Chindata to expand vertically integrated AI industry clusters and support local governments in developing next-generation digital and materials industries.

Local Government Support

Authorities in both Shaoguan and Ulanqab have expressed strong backing for the initiatives, underscoring their alignment with regional priorities in emerging industries, renewable-energy deployment and digital transformation. Local governments have committed to coordinated planning, streamlined administrative processes and supportive policies to ensure smooth project delivery.

Advancing Large-Scale Green Compute

These two partnerships represent a significant step in advancing high-capacity, energy-efficient computing infrastructure. By combining hyperscale data center development, renewable-energy systems, and industrial-materials manufacturing, Chindata and HEC aim to create replicable models for integrated, low-carbon growth and effective industrial-compute collaboration across multiple regions.

About Chindata Group

Chindata Group is a leading carrier-neutral hyperscale data center solution provider and a pioneer in AI-ready facilities in China. Guided by its mission to “efficiently convert electrical power into computing power” and driven by innovation, the company focuses on the planning, investment, design, construction, and operation of high-performance, reliable, and low-carbon computing infrastructure.