Everfuel and Karlstads Energi gets funding notification for potential project in Sweden

13 Dec 2024 11:53 CET

Herning, Denmark, 13 December 2024 - Everfuel A/S' is pleased to announce that
its subsidiary Everfuel Production Karlstad AB have been awarded a grant by the
Swedish Environmental Protection Agency under the Climate Leap (Klimatklivet)
investment program following a funding application made in 2022, for the
potential 20 MW electrolyser project. The project is a joint initiative with the
local utility company, Karlstads Energi.

The project grant is subject to the parties moving forward with the project and
fulfilling the grant conditions. If finally awarded, the grant would be in an
amount of up to EUR 13.9 million (SEK 159.7 million), which would provide
partial financing of the potential hydrogen production project in Karlstad. The
project is not included in Everfuel's updated strategy as announced in May 2023.
Everfuel and Karlstads Energi are jointly exploring various options for the
realisation of the project.

For further information, please contact:

Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945
Mads Tirsgaard Mortensen, Investor Relations Director, Everfuel,
mm@everfuel.com, +45 7730 4727

About Karlstads Energi | www.karlstadsenergi.se

We light up your home, ensure your oven works and we charge your mobile phone.
We provide comfort in your home and your screens with information and
entertainment. Around 42,000 households and businesses are reached by our
renewable electricity and over 50,000 residents of Karlstad enjoy our district
heating at home, at school or at work. When our relationship is at its best, you
don't give us a second thought, even though we're with you 24/7. Through our
recycling services, we collect and take care of the municipality's household and
business waste and manage Karlstad's six recycling centers. We believe in second
chances and together we contribute to increased reuse and a more sustainable
life for you and your waste.

About Everfuel | www.everfuel.com

Everfuel 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 Denmark, Germany and The Netherlands, and a plan to grow across
Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.

More information:
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