HydrogenPro acquires full ownership of manufacturing site in Tianjin, China

27 Nov 2025 19:17 CET

[27 November 2025] -- HydrogenPro ASA (OSE: HYPRO) has reached an agreement
with Tianjin Miaoqing Machinery Equipment Co., Ltd. to acquire 25 per cent
shares of HydrogenPro Tianjin, bringing HydrogenPro's ownership position from
75 per cent to 100 per cent.

The consideration in the transaction consists of CNY 3 million in cash plus
equipment valued at approx. CNY 1.8 million.

After the original agreement signed in November 2021, where HydrogenPro
acquired 75 per cent, the site has been through several upgrades with focus on
quality improvement and advanced systems, increasing manufacturing capacity to
approx. 500 MW p.a.The plant has, among others, manufactured electrolyzer
systems for two of the world's largest green hydrogen projects.

"This transaction is in line with HydrogenPro's strategy of streamlining
operations. We are pleased to secure full ownership of the plant, which is a
very cost-efficient set-up with capacity to deliver on large projects. The
plant is already controlled and operated by HydrogenPro. HydrogenPro is, as
previously communicated, in dialog with LONGi under the joint cooperation
agreement about optimization of manufacturing footprint and further synergy
recognition." said Jarle Dragvik, CEO of HydrogenPro.

The completion of the transaction is contingent upon receiving approval by
Chinese authorities.

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

About HydrogenPro:
HydrogenPro, established in 2013, specialises in pioneering green hydrogen
technology solutions through partnerships with global collaborators and
suppliers. Our flagship products are high-pressure alkaline electrolysers,
incorporating some of the most advanced technology available. As an OEM, we
provide high-pressure alkaline electrolysers and supply large-scale green
hydrogen plants, all certified to ISO 9001, ISO 45001, and ISO 14001
standards. Our experienced engineering team consists of leading industry
experts, drawing upon unparalleled knowledge and expertise in the hydrogen and
renewable energy sectors.
For more information, visit www.hydrogenpro.com
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This information has been submitted pursuant to the Securities Trading Act §
5-12 and MAR Article 17. The information was submitted for publication,
through the agency of the contact persons set out above, at 2025-11-27 19:17
CET.

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