HYDROGEN REFUELING SOLUTIONS (HRS): HRS AND PHYNIX CONTINUE THEIR COLLABORATION FOR THE DEPLOYMENT OF EUROPEAN HYDROGEN MOBILITY PROJECTS – 06/20/2024 at 6:15 p.m.

Grenoble, June 20, 2024 –

HRS, European designer and manufacturer of hydrogen refueling stations

announces having signed with

pHYnix,

independent European producer of green hydrogen and associated services, an amendment to the framework agreement of January 19, 2023, aimed at adapting the deployment of hydrogen station projects

pHYnix

.

As part of this amendment, it is intended that

HRS

book to

pHYnix

before the end of 2027, 3 HRS40 stations with a capacity of 1 ton/day and 3 HRS14 stations with a capacity of 200 kg/day

[1]

. These 6 stations, with a cumulative value of €12.5 million, have been in production since 2023. The partners have agreed on a new payment schedule, spread out between June 2024 and December 2027.

The order for 2 additional HRS40 stations with a capacity of 1 tonne/day appearing in the initial framework agreement has been withdrawn. To date, the cumulative turnover of these 2 stations, recognized as progress since 2023, amounts to €2.1 million as of December 31, 2023, representing an advancement of 30%.

HRS

will redirect these stations to other orders currently being negotiated, with similar or close characteristics, which will neutralize the impact as soon as they are reassigned.

Furthermore, a strategic partnership was concluded with

pHYnix

to encourage the development of station sales

HRS

particularly in the context of new markets. This partnership provides technical and commercial assistance of

HRS

allowing

pHYnix

to benefit from increased support in the possible resale of stations

HRS

already acquired and in the conclusion of new orders.

This agreement, valid until the end of 2027, reflects the commitment of

HRS

in the long term for the success and growth of its partners.

ABOUT HRS (Hydrogen ReFueling Solutions)

HRS

is one of

world leaders in high capacity hydrogen fueling stations

. HRS offers a complete and unique range of modular and scalable stations, ranging from 200 kg/day up to 4 tonnes/day.

Pure player from design to commissioning of stations,

HRS

has a latest generation industrial production tool allowing

assemble up to 180 stations per year

with some

manufacturing times of 6 to 12 weeks

. This industrial site includes a

testing area, unique in Europe

making it possible to test and test the range of stations and develop future products and solutions aimed at the hydrogen mobility market.

HRS

also offers

a complete service offering including

maintenance with on-call 24/7/365. As such, the performances of the stations installed in Europe and around the world are monitored in real time from the

state-of-the-art control room

.

HRS

today has an installed base of high-capacity stations among the largest on the market with 18

stations of 200 kg/day, i.e. a cumulative capacity of nearly 4 tonnes/day

. All station terminals are dual-pressure and equipped with 350 bar, 350 HF, and 700 bar nozzles, thus meeting all uses of hydrogen mobility.

HRS

is distinguished by its

rigorous economic discipline

offering lasting financial strength while continuing to allocate substantial resources to R&D, thus ensuring its position at the forefront of innovation.

During the 2022/2023 financial year,

HRS achieved a turnover of €30.1 million, an increase of +77%

and aims to achieve a turnover of

85 million euros by 2026

integrating recurring revenue streams from services associated with the continuously expanding installed base.

ISiN code: FR0014001PM5 – mnemonic: ALHRS.

For more information, go to our website www.hydrogen-refueling-solutions.fr

CONTACTS

[1]

Against previously: 5 HRS40 stations with a capacity of 1 ton/day and 3 HRS14 stations with a capacity of 200 kg/day for a minimum of €18 million

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