Green Fuels for Denmark receives DKK 600 million in IPCEI funding

16 Dec 2022 10:55 CET

Herning, Denmark, 16 December 2022 - Today, the Danish government notified that
the Green Fuels for Denmark Power-to-X project has received DKK 600 million of
funding under the Important Projects of Common European Interest (IPCEI)
program. Green Fuels for Denmark is a Copenhagen-based green hydrogen project
led by Ørsted. Everfuel A/S participates in the project as the distributor of
zero-emission fuel for road transportation.

The funding will go towards realising Green Fuels for Denmark's first phases of
10 MW, 100 MW and 300 MW megawatt, respectively. A share of the IPCEI funds will
be used to part-finance two Everfuel fuelling stations which will offtake green
hydrogen produced by Green Fuels for Denmark.

"We would like to gratulate Ørsted and the Green Fuels for Denmark consortium on
this major milestone. This is an important project for scaling Power-to-X and
for the decarbonisation of mobility in Denmark and Europe. At Everfuel we look
forward to participating in bringing the project forward and providing
sustainable fuels to the market," says Jacob Krogsgaard, the CEO of Everfuel.

As stated in a recent press release the Everfuel-led HySynergy project has also
been granted IPCEI funding by the Danish government.

Link to press release from Ørsted:
https://orsted.com/en/media/newsroom/news/2022/12/13666863

For additional information, please contact:

Mads Tirsgaard Mortensen, Investor Relations Manager, Everfuel, mm@everfuel.com,
+45 61 71 56 25

About Everfuel | www.everfuel.com

Everfuel is making green hydrogen for zero emission industry and mobility
commercially available across Europe, offering competitive all-inclusive
hydrogen supply and fuelling solutions. We own and operate green hydrogen
infrastructure and partner with industry and vehicle OEMs to connect the entire
hydrogen value chain and seamlessly provide hydrogen fuel to enterprise
customers under long-term contracts. Green hydrogen is a 100% clean energy
carrier made from renewable solar and wind power and key to decarbonising
industry and transportation in Europe. We are an ambitious, rapidly growing
company, headquartered in Herning, Denmark, and with activities in Norway,
Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across
Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

578409_20221216_IPCEI_funding_GF4DK_press_release_ENG.pdf