HydrogenPro enters partnership with ANDRITZ for green hydrogen solutions in Europe

19 Apr 2023 07:00 CEST

OSLO/GRAZ, APRIL 19, 2023. HydrogenPro (OSE: HYPRO), a leader within green
hydrogen technology and systems, and international technology group ANDRITZ have
entered into a partnership to collaborate on scaling up manufacturing and
assembly of electrolysers for the European market.

The collaboration will bring together HydrogenPro's expertise in high-pressure
alkaline electrolyser (AEL) technology with ANDRITZ's competence in
manufacturing and assembly. This non-exclusive partnership will allow ANDRITZ to
include HydrogenPro's technology in its EPC offering of green hydrogen
solutions. HydrogenPro, as a fast-growing global green hydrogen technology
company, will be able to speed up its technology offering to the European
market.

Sami Pelkonen, Executive Vice President Green Hydrogen at ANDRITZ GROUP, states:
"ANDRITZ aims to become a leading global provider of complete green hydrogen
plants and solutions based on different electrolysis technologies. We look
forward to working with HydrogenPro to contribute to the increase in
electrolysis capacities needed to support the emerging green hydrogen economy in
Europe. Our expertise in plant engineering and turnkey projects will help us to
successfully execute complete projects for our customers."

Tarjei Johansen, CEO of HydrogenPro, adds: "This strategic partnership unlocks a
significant potential as it combines our pioneering electrolyser design and
expertise in underlying technologies with ANDRITZ's operational excellence and
experience as an EPC supplier. With this partnership HydrogenPro will have a
solid global footprint, in Europe, the US and Asia respectively. Further, it is
an important move to reach our ambition of more than 5 GW of electrolysis
capacity in five years. We look forward to building on this relationship."

For further information, please contact:
Martin Thanem Holtet, CFO, +47 922 44 902
Ida Eilertsen Nygård, Head of Investor Relations and ESG, +47 986 11 952
ir@hydrogen-pro.com

About HydrogenPro:
HydrogenPro is a technology company and an OEM for high pressure alkaline
electrolyser and supplies large scale green hydrogen plants, all ISO 9001, ISO
45001 and ISO 14001 certified. The Company was founded in 2013 by individuals
with background from the electrolysis industry which was established in
Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team
of leading industry experts, drawing upon unparalleled experience and expertise
in the hydrogen and renewable energy industry.

About Andritz Group:

International technology group ANDRITZ offers a broad portfolio of innovative
plants, equipment, systems, services and digital solutions for a wide range of
industries and end markets. Sustainability is an integral part of the company's
business strategy and corporate culture. With its extensive portfolio of
sustainable products and solutions, ANDRITZ aims to make the greatest possible
contribution to a sustainable future and help its customers achieve their
sustainability goals. ANDRITZ is a global market leader in all four of its
business areas - Pulp & Paper, Metals, Hydro and Separation. Technological
leadership and global presence are cornerstones of the group's strategy, which
is focused on long-term profitable growth. The publicly listed group has around
29,100 employees and over 280 locations in more than 40 countries.

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

More information:
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