HYDROGENPRO ASA 8th January 2021 HydrogenPro AS , Ariema S.A and Reposl S.A plan to develop joint hydrogen projects Within the framework of a Memorandum of Understanding, HydrogenPro will assist the Spanish multi-energy providerRepsol to mature and accelerate projects which will helpRepsol achieve its' target of becoming a zero emissions company by 2050. HydrogenPro will contribute technology and know how to build and deliver efficient high pressure alkaline electrolysers to produce green hydrogen which will contribute to the decarbonization ofRepsol and to reaching its' zero emission target. Based on an initial review of project opportunities, the parties have identified a possible project at theBilbao based refineryPetroloes del Norte SA - a subsidiary ofRepsol , and have entered into a Letter of Intent (LOI) to jointly develop this opportunity. As a first phase, the parties will cooperate closely in order to prepare and present an application for European Green Deal funding later this month. A key component of the project is to implement the latest electrolyser technology with improved efficiency to design an optimized 100MW plant. Any future project depends i.e on allocation of Green Deal funding, and at present, there are no assurances that such funding will be granted nor thatRepsol will make a final decision to invest in an electrolyser plant in the future. Ariema will act as facilitator and assist and support HydrogenPro during the project phase and assuming the project is approved, will support and assist HydrogenPro in establishing a supply chain for electrolyser projects inSpain .Mårten Lunde , CEO of HydrogenPro explains that "we are honoured of being given the opportunity to team up withRepsol in maturing green hydrogen projects and thus the ability of contributing toRepsol achieving its' net zero emission target by 2050 as the first company in this sector to set such an ambitious target." For more information, please contact:Mårten Lunde , CEO +47 48 14 84 51 marten@hydrogen-pro.com About HydrogenPro HydrogenPro is a supplier and system integrator of large scale electrolysers for industrial applications. The company has an ambition to become a leading provider of electrolysers suitable for renewable energy projects worldwide. About Ariema ARIEMA is a Spanish company that works with hydrogen and fuel cells technologies with 30 years of experience within this sector. Ariema offers advice, support, training and consulting all the way up to construction and installations. AboutRepsol Repsol is a global multi-energy provider that strives to drive the evolution towards a low-emissions energy model. The company has over 25,000 employees and boast assets across 34 countries. The company is a major player in the Spanish electricity and gas market and operates low-emissions electricity generation assets in addition to developing a wide range of renewable solar and wind energy projects.
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