HydrogenPro ASA: LONGi Hydrogen has obtained regulatory approval to invest NOK 70 million in HydrogenPro

19 May 2025 21:20 CEST

19 May 2025 - HydrogenPro ASA (OSE: HYPRO): Reference is made to the stock
exchange announcement made by HydrogenPro ASA ("HydrogenPro" or the "Company")
on 23 December 2024 where it inter alia was announced that the Company had
entered into an investment agreement regarding a conditional equity investment
of approx. NOK 70 million by LONGi Hydrogen Technology (Xi'an) Co., Ltd.
("LONGi Hydrogen"). The Company is pleased to announce that LONGi Hydrogen has
obtained a necessary Overseas Direct Investment (ODI) regulatory approval in
China to carry out its investment in the Company. The investment is expected
to be completed by the end of the second quarter.

Pursuant to the investment Agreement, LONGi Hydrogen shall subscribe for
12,703,209 new shares in the Company at a subscription price of NOK 5.50 per
share. The net proceeds to the Company from the investment will be used for
general corporate purposes.

Completion of the investment remains subject to the board of directors of the
Company resolving to issue the new shares pursuant to a board authorisation
granted at the annual general meeting held on 30 April 2025, as well as
registration of the pertaining share capital increase in the Norwegian
Register of Business Enterprises.

For further information, please contact:
Martin Thanem Holtet, CFO
+47 922 44 902
martin.holtet@hydrogenpro.com

About HydrogenPro:
HydrogenPro is a technology company and an OEM for high pressure alkaline
electrolyzer 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.

This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication at
2025-05-19 21:20 CEST.

More information:
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