Porsgrunn, Norway, 16 November 2022 - Reference is made to recent press release
from DG Fuels regarding the execution of a long-term lease agreement with the
Loring Development Authority for 1,240 acres of contiguous land in Aroostock
County, Maine. This will be the site of DG Fuels' second SAF (Sustainable
Aviation Fuel) facility, and the project will break ground in the Summer of
2024.

The long-term lease agreement in Maine comes on top of DG Fuels recently
securing 100% offtake from its first project in Louisiana, thus increasing the
solidity of the business case. HydrogenPro has secured its position as supplier
of water electrolysers to the DG Fuels projects, which will have an initial
output of approximately 175 million gallons SAF per year. In total, HydrogenPro
will supply green hydrogen technology with a capacity of approximately 1.7 GW to
the Louisiana and Maine projects.

"The long-term lease agreement is of great strategic value and reaffirms our
belief in the DG Fuels project. SAF will play a vital role in decarbonising the
aviation industry, especially because it can be mixed with conventional fuel
today, without the companies having to make big investments to engines or fuel
tanks. We look forward to supplying the green hydrogen technology that will fuel
the shift within the aviation industry", says Richard Espeseth, interim CEO and
founder of HydrogenPro.
Sustainable aviation fuel from DG Fuels is expected to remove an estimated 1.5
million tons of CO2 out of the atmosphere annually. Compared to conventional
fuel, the use of SAF can reduce emissions by an average of 80% and is considered
more energy efficient. Hence, it provides airlines with operational advantages
in addition to its environmental contributions.


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.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange