HydrogenPro meets the European Hydrogen Bank regulations

OSLO, Norway, Nov. 15, 2024 /PRNewswire/ -- On September 27, 2024, the European Hydrogen Bank introduced new terms where prospective projects will not be allowed to source more than 25 percent of electrolyser stacks - covering surface treatment, cell unit production, and stack assembly-from China.  This week, the European Commission shared a letter that further clarifies the regulations.

Based on dialogue with investors and analysts, HydrogenPro (OSE: HYPRO) observes that this has created uncertainty and has led to misunderstandings of the complex supply chain involved in the production of electrolysers.

Therefore, HydrogenPro would like to clarify the following: HydrogenPro fully complies with the European Hydrogen Bank's funding requirements for our European projects. Any necessary adjustments to our supply chain will be minimal.

Jarle Dragvik, CEO of HydrogenPro ASA, comments: `'We have thoroughly analyzed our supply chain based on the EU regulations, which includes our electrode production in Denmark and assembly at our collaboration and EPC partner ANDRITZ AG's site in Germany, and we are confident we will comply with all regulations."

HydrogenPro leads the global green hydrogen industry, being the exclusive supplier for two of the largest green hydrogen projects globally. Working closely with ANDRITZ, we will continue to deliver the largest projects in Europe. 

For further information, please contact:
Martin Thanem Holtet, CFO +47 922 44 902

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SOURCE HydrogenPro ASA