HRS MAKES SPECTACULAR PROGRESS
IN THE DEPLOYMENT OF HYDROGEN MOBILITY IN EUROPE

Simultaneous installation of four 1 tonne/day hydrogen stations in France

Installed base of 27 high-capacity stations by the end of 2024

Grenoble, 5 November 2024 - HRS, French designer and manufacturer, and European leader in hydrogen refueling stations, announces major milestones in the deployment of hydrogen mobility in Europe.

Following the successful installation of its first HRS40 (1 tonne/day) in September 2024 on its test area, HRS teams are currently installing three new HRS40 stations simultaneously, operational by the end of 2024, on three customer sites, which will bring the number of stations installed by the Group to 27. HRS is thus consolidating its position as European leader in hydrogen stations, illustrating its key role in the decarbonization of transport and the growth of the hydrogen ecosystem throughout Europe.

UNIQUE ADVANCES IN THE DEPLOYMENT OF LARGE-CAPACITY HYDROGEN STATIONS

By the end of 2024, HRS will take a decisive step in the energy transition with the simultaneous installation of 4 HRS40 stations, one of which has already been in service since September, each with a capacity of 1 tonne/day, in the localities of Saint-Sulpice, Malataverne, Lyon Saint-Exupéry and Champagnier, in the HRS test area. This rapid deployment is made possible by collaboration with local authorities and several private partners. These innovative stations testify to a shared commitment to clean, sustainable mobility, reaffirming HRS's ability to meet the rapid development needs of hydrogen mobility. This sustained rate of installation of 4 high-capacity stations in just 5 months testifies to the ability of HRS teams to meet the challenges of a rapidly expanding sector.

"Installing four 1-ton-per-day hydrogen stations in 5 months is a great source of pride, a feat unique in the world and a major step forward for the energy transition achieved by HRS." Says Hassen Rachedi, CEO and founder of HRS

HRS, EUROPEAN LEADER AT THE HEART OF HYDROGEN MOBILITY DEPLOYMENT

With 27 stations installed across Europe by the end of 2024, all with large capacities, i.e. over 200 kg/day, HRS has demonstrated its technological lead and proven ability to supply reliable, high-performance hydrogen infrastructures in record time. This success confirms its position as European leader in hydrogen refueling solutions, a position acquired thanks to its unique expertise and the modularity of its stations, which will soon be able to supply up to 4 tonnes of hydrogen per day. By 2026, HRS will have installed at least 29 new stations, including many 1-tonne/day stations, for its customers, who are already located in 7 countries worldwide.

"These projects demonstrate our ability to innovate and rapidly deploy essential hydrogen infrastructure. The clear growth in our installed base is one more step in our commitment to sustainable mobility and clean energy, aiming to make hydrogen a key lever in the energy transition."

 A TURNKEY OFFER OF MODULAR STATIONS ADAPTED TO THE NEEDS OF HEAVY MOBILITY

HRS's competitive advantage also lies in its ability to respond to major market challenges, particularly in the heavy mobility sector (trains, buses, trucks, industrial vehicles, etc.). Indeed, demand for infrastructure capable of supporting heavy fleets - essential to the energy transition in the transport sector - is growing rapidly, and HRS is perfectly positioned to support this transformation.

The HRS40 stations from HRS offer a basic capacity of 1 tonne/day and can be upgraded to 4 tonnes in line with our customers' future needs. Designed for heavy-duty mobility, they meet the needs of trucks, coaches, buses, construction equipment and logistics vehicles, thanks to pressures of 350 and 700 bar. This flexibility supports the growth of hydrogen mobility in France, Europe and worldwide, and meets the requirements of local authorities and private partners.

"We are working hand in hand with local authorities and our private partners to make hydrogen accessible to territories," adds Mr. Rachedi. "Every station we install is proof of what we can achieve together to meet climate and energy challenges."

HRS's turnkey offer, from design and installation to station maintenance, also guarantees its customers high-performance, durable and reliable refueling solutions.

Thanks to a maintenance and assistance service available 24/7, HRS ensures a high level of availability for its stations, a technological feat given the complexity of the installations and a major differentiating asset. What's more, the in-house operational control center monitors station data in real time, enabling preventive operations to be anticipated and stations to be optimized.

RHEADHY PROGRAM: INNOVATION AT THE HEART OF HRS DNA

True to its DNA of constant innovation, HRS is participating in the development of RHeadHy[1] hydrogen refueling technology, supported by the European Clean Hydrogen Partnership program. Scheduled to be available in 2026, this cutting-edge technology is specially designed to meet the major needs of heavy mobility fleets, enabling them to cover distances of up to 1,000 km, with rapid refueling of a 100 kg tank in 10 minutes at high pressure (700 bar).

Initial tests have achieved a flow rate of 160 grams of hydrogen per second at 700 bar, bringing HRS closer to its target of 300 grams per second. This performance paves the way for wider adoption of hydrogen in heavy-duty transport, particularly for buses and coaches, as witnessed by the Group's recent deployments in Saudi Arabia.

A MARKET ON THE CUSP OF MASSIVE EXPANSION

The HRS deployment strategy is perfectly in line with European dynamics, with ambitious objectives supported by regulations such as AFIR (Alternative Fuels Infrastructure Regulation), which calls for the installation of 650 hydrogen stations in Europe by 2030.

The "Hydrogen Insights 2024" report confirms major opportunities for HRS in hydrogen. Global investment is expected to reach 680 billion USD by 2030, with 68 billion USD specifically dedicated to hydrogen refueling infrastructure.

HRS is already involved in a number of strategic projects, both locally and internationally, and has an order backlog of 47 million euros. With the completion of a major investment cycle in its 180-station-per-year production facility, the Group is gearing up to further accelerate its expansion, by responding to major tenders currently under negotiation.

"We are in shortlist or final negotiations for 170 stations, representing potential sales of around €340 million."

A European leader, HRS also aims to become a key player on a global scale. With projects underway beyond Europe, such as in the Middle East, and imminent expansion in the United States. In this way, HRS is demonstrating its commitment to support the energy transition wherever demand for hydrogen infrastructure will be high.

By the end of 2024, HRS will have consolidated its presence in North America with the creation of HRS-USA, opening up new growth prospects in a market that expects to install 4,300 stations by 2030.

HRS in figures

• 4 1-tonne/day stations, in service by the end of 2024
• A total of 61 stations manufactured by the end of 2024
• 30 stations in production to reach 91 stations by end 2025/early 2026
• Scalable capacity up to 4 tonnes/day per station
• Pressures of 350 and 700 bar for heavy-duty mobility

ABOUT HRS (Hydrogen Refueling Solutions)

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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 tonnes/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 also offers a comprehensive service package, including 24/7/365 on-call maintenance. As such, 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 23 stations ranging from 200 kg to 1 tonne/day, giving a cumulative capacity of over 6 tonnes/day. All stations are equipped with dual-pressure nozzles at 350 bar, 350 HF and 700 bar, to meet all hydrogen mobility requirements.

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.fr

CONTACTS

Investor Relations ACTUS finance & communication Grégoire SAINT-MARC hrs@actus.fr Tel. 01 53 67 36 94

Financial press relations ACTUS finance & communication Déborah SCHWARTZ hrs-presse@actus.fr Tel. 01 53 67 36 35

Corporate press relations ACTUS finance & communication Anne-Charlotte DUDICOURT hrs-presse@actus.fr Tel.: 01 53 67 36 32

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[1] The RHEADHY project has received funding from the Clean Hydrogen Partnership under grant agreement no. 101101443, with support from the European Union's Horizon Europe research and innovation program.

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