HYDROGEN REFUELING SOLUTIONS (HRS): HRS ENTERS PORTUGUESE MARKET WITH FIRST ORDER FOR HYDROGEN STATION FROM HYCHEM

HRS ENTERS PORTUGUESE MARKET
WITH FIRST ORDER FOR HYDROGEN STATION
FROM HYCHEM

Grenoble, October 29 2024 - HRS, French designer and manufacturer, and European leader in hydrogen refueling stations, announces the first order in Portugal for the supply and installation of an HRS14 hydrogen station for HYCHEM, a key player in green hydrogen production. This strategic move strengthens HRS's presence on the Iberian Peninsula and marks a significant step in the expansion of its international footprint.

HyChem (formerly Solvay Portugal, S.A.) is a specialist in hydrogen chemistry and a strategic partner in industry's transition towards carbon neutrality. With decades of experience, HyChem has positioned itself as a pioneer of innovation in sustainable energy solutions. The company is committed to investing in energy transition, green hydrogen production, and technological innovation to achieve greater sustainability.

The latest-generation HRS14 station will be installed at HyChem's industrial site near Lisbon, in Póvoa de Santa Iria, and will be used to refuel cars and heavy vehicles for public and private use.

Portugal is currently a particularly dynamic area for hydrogen development, with the introduction in recent years of energy transition policies featuring ambitious targets for the production and distribution of green hydrogen. To this end, the country plans to invest 7 billion euros, part of which will be dedicated to the deployment of a network of 100 stations by 2030.

This order represents another European success for HRS, marking its entry into the 6th country on the continent. HRS is now present in each of the four countries participating in the H2Med green hydrogen energy corridor project (Portugal, Spain, France, and Germany). This initiative aims to bolster Europe's energy security and accelerate the development of hydrogen infrastructure by linking hydrogen-producing regions to key consumption centers and interconnecting major projects along this corridor.

Manuel Gil Antunes, CEO of HyChem, comments: "As a leading producer in the Portuguese green hydrogen market, already today able to supply a large amount of hydrogen to the market, including the mobility market, we feel proud of our pioneering initiative in installing at our Povoa site a green hydrogen refueling station for vehicles, to serve partners in the mobility sector, in partnership with a high qualified manufacturer of hydrogen refueling stations."

Hassen Rachedi, founder and CEO of HRS, adds: " This first order in Portugal is a crucial step in our international expansion strategy. We are proud to collaborate with an innovative company like HyChem, which shares our vision of a sustainable future powered by green hydrogen. With its ambitious policies and commitment to the energy transition, the Portuguese market offers tremendous potential for the development of our hydrogen solutions. At HRS, we are dedicated to supporting our partners in establishing reliable, high-performance refueling infrastructure around the world, accelerating the adoption of hydrogen for mobility. "

ABOUT HYCHEM

HyChem is a Portuguese company specialized in the production of green hydrogen and sodium chlorate, and positions itself also as a strategic partner in the transition towards carbon neutrality in Industry and Transport.

HyChem is a national reference in the Portuguese chemical sector, with a 90-year history and experienced in blending renewable energy, circular economy, innovative sustainability solutions and leveraging hydrogen and biotechnology.

Producing hydrogen since 1939, HyChem has the knowledge and experience in the manufacturing, compression, storage, supply, and usage for various industrial applications, including as energy vector.

Since 2021, it has been part of Algora, a holding company created by the Portuguese A4F - Algae for Future biotechnological group.

ABOUT HRS (Hydrogen Refueling Solutions)

HRS is one of the world's leading manufacturers of high-capacity hydrogen refueling stations. HRS offers a complete and unique range of modular and scalable stations, from 200 kg/day to 4 tons/day.

Pure player from station design to commissioning, HRS has state-of-the-art industrial production facilities capable of assembling up to 180 stations a year, with lead times of 6 to 12 weeks. This industrial site includes a test area, the only one of its kind in Europe, to test and trial the range of stations and develop future products and solutions for the hydrogen mobility market.

HRS takes a source-agnostic approach to hydrogen, allowing the use of any type of hydrogen (green, blue, gray, etc.). Our stations are compatible with all hydrogen production solutions and independent of electrolyser manufacturers. This flexibility enables customers to choose the hydrogen supplier best suited to their needs in terms of cost, availability and carbon footprint.

HRS also offers a comprehensive service package, including 24/7/365 on-call maintenance. The performance of stations installed in Europe and around the world is monitored in real time from the state-of-the-art control room.

HRS now has one of the largest installed bases of high-capacity stations on the market, with 22 200 kg and 1 ton/day stations, representing a cumulative capacity of more than 5 tons/day. All the stations' terminals are bi-pressure and equipped with 350-bar, 350-HF and 700-bar nozzles, meeting all the needs of hydrogen mobility.

HRS stands out for its rigorous economic discipline, offering long-term financial solidity while continuing to allocate substantial resources to R&D, thus ensuring its position at the forefront of innovation.

ISIN code: FR0014001PM5 - mnemonic: ALHRS.

For more information, visit our website www.hydrogen-refueling-solutions.com

CONTACTS

Investor Relations ACTUS finance & communication Grégoire SAINT-MARC [e-mail] Tel. [phone]

Financial press relations ACTUS finance & communication Déborah SCHWARTZ [e-mail] Tel. [phone]

Corporate press relations ACTUS finance & communication Anne-Charlotte DUDICOURT [e-mail] Tel. [phone]

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