BOOSTHEAT: AFTER THE SUCCESS OF ITS TESTING PROGRAM, BOOSTHEAT COMMITS TO THE VALORIZATION OF ITS HYBRID COMPRESSOR AND ADAPTS ITS ORGANIZATION – 06/10/2024 at 08:00

Vénissieux, June 10, 2024

BOOSTHEAT (ALBOO), a French industrial and software player in energy efficiency, announces the success of the test program for its new hybrid compressor, marking a significant step in the development of innovative energy solutions for impact reduction environmental. This major technological advance, which has already sparked discussions with industrial partners for the exploitation and integration of this technology in the biogas and biomethane sectors, opens a new chapter in the company’s history. BOOSTHEAT will now seek to enhance its strategic assets and radically evolve its organization in this new context.

I DISRUPTIVE TECHNOLOGY AT THE SERVICE OF INDUSTRIAL AND ENVIRONMENTAL CHALLENGES

Under the leadership of HBR Investment Group, BOOSTHEAT has initiated an ambitious development program, serving the acceleration of the ecological transition, since the start of the 2023 financial year. This research work which has mobilized the teams for more than ‘1 year resulted in the development of the first hybrid compressor meeting 3 criteria:

1. Versatility
   
   : Highlight the distinct advantages of hybrid compression, which take full advantage of the combination of thermal and electrical energy for optimal efficiency;

2. Scalability
   
   : Develop an innovative compression architecture that allows the creation of products with varied capacities, ranging from 50 to 250 kW, thus meeting the diverse needs of the market;

3. Performance
   
   : Significantly increase the performance of BOOSTHEAT’s existing compressors, thus strengthening its leading position in the field of gas or waste heat-based heat pumps.

BOOSTHEAT has now finalized an ambitious test program which aimed to validate the different operating modes (Stirling Heat Pump / micro-cogeneration / Hybrid Heat Pump), illustrating the advantages of each for industry and future uses. of technology.

The finalization of the BOOSTHEAT hybrid compressor test program symbolizes a major success, perfectly meeting the ambitious strategic objectives established by the management team and confirming the advantages of the technology patented by BOOSTHEAT.

I A STRATEGIC ASSET TO BE VALUED

To make the most of this strategic asset, BOOSTHEAT has chosen to get closer to industrial players likely to acquire and operate the hybrid compressor to bring it to an industrial scale.

For the record, BOOSTHEAT has already received 2 letters of interest from recognized players in the biogas and biomethane production sector, a sector ideally positioned to benefit from this technology, and also hopes to arouse the interest of industrialists in compression and HVAC fields, such as thermal or refrigeration machine manufacturers.

BOOSTHEAT is committed to the same strategy for its new ImpliciX software solution, which allows industrial companies to optimize the performance of their products as well as their maintenance operations. This pilot solution has already resulted in the signing of a letter of interest from the company Proxipel, an industrial player specializing in the transformation and valorization of biomass, for the integration of ImpliciX in their future generations pellet machines.

The Company remains attentive to new expressions of interest that could be presented for strategic assets, whether the compressor, the software suite or the attached patents.

I AN ADAPTATION OF THE ORGANIZATION TO PRESERVE RESOURCES

In order to have the financial visibility necessary to implement this strategy to enhance its assets, BOOSTHEAT has decided to implement a drastic cost reduction plan and has the reaffirmed support of its financial partners.

In order to concentrate its financial resources on subjects directly linked to the implementation of this strategy to enhance its assets, BOOSTHEAT has decided to stop all other operational expenses, eliminate around 10 positions and denounce non-essential contracts. The objective is to increase cash consumption linked to operations and investments from €375,000 per month on average in 2023 to around €100,000 per month on average from 2

^n/a

semester 2024.

At the same time, BOOSTHEAT is working in close collaboration with its partners and with the renewed support of HBR Investment Group to clear its liabilities, in particular the bank debts resulting from the safeguard plan still in circulation

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, i.e. a nominal value of €5.6 million. For the record, HBR Investment Group has already acquired the bond debt of €8.0 million during the observation period and has undertaken not to request reimbursement in cash of these debts.

This drastic savings plan, associated with the support of HBR Investment Group and the maximum residual financing capacity of €22.8 million through the bond financing line, should ensure operational continuity.

Emilien Benhard, Operations Director of BOOSTHEAT, declares: “

I am very proud of the work that we have accomplished in record time to provide energy performance professionals with two unparalleled innovative solutions, our hybrid compressor and our software suite. I would like to warmly thank those who made this success possible and hope that tomorrow we will see a little “BOOSTHEAT inside” in the future products of the energy revolution.

»

Hugo BRUGIERE, CEO of BOOSTHEAT, adds: “

HBR Investment Group fully played its role as a leading investor to make possible the tremendous work carried out by all the teams led by Emilien over the last few months. It is now time to capitalize on this intense work by finding partners who will have the capacity to integrate these revolutions into large-scale industrial solutions. At the same time, a reflection is initiated by the Board of Directors in order to define the best options for the future of the Company.

»

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F ind all the BOOSTHEAT information on


www.boostheat-group.com

ABOUT BOOSTHEAT

Founded in 2011, BOOSTHEAT is a player in the energy efficiency sector. The Company’s mission is to accelerate the ecological transition through the integration of its technology into highly energy-consuming applications. BOOSTHEAT has designed and developed a thermal compressor protected by 7 families of patents making it possible to significantly optimize energy consumption to move towards reasonable and relevant use of resources.

BOOSTHEAT is listed on Euronext Growth in Paris (ALBOO).

I CONTACTS

NEWS finance & communication – Jérôme FABREGUETTES LEIB

Investor Relations

Such. : 01 53 67 36 78 / [email protected]

NEWS finance & communication – Anne-Charlotte DUDICOURT

Press relations

Such. : 06 24 03 26 52 / [email protected]

Warning :

The company BOOSTHEAT has set up financing in the form of ORA with the company Impact Tech Turnaround Opportunities (ITTO), which, after having received the shares resulting from the reimbursement or exercise of these instruments, is not intended to remain a shareholder of the Company.

The shares resulting from the redemption or exercise of the above-mentioned securities will, in general, be sold in the market very quickly, which may create strong downward pressure on the share price.

Shareholders may suffer a loss of their invested capital due to a significant decrease in the value of the Company’s stock, as well as significant dilution due to the large number of securities issued to the benefit of Impact Tech Turnaround. Opportunities (ITTO).

Investors are advised to be very vigilant before making the decision to invest in the securities of the Company admitted to trading which carries out such dilutive financing transactions, particularly when they are carried out successively. The company recalls that this dilutive financing operation is not the first that it has implemented.

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With the exception of bank debts arising from loans guaranteed by the State and a debt held by a banking establishment which have been partially reimbursed for the balance of any account.

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