"The first half of 2022 follows up on a successful 2021. With the takeover of the hydrogen station in Sandviken in February Hynion became the largest operator inNorway /Sweden . Volumes are picking up at Høvik station. During the first half year the volumes of hydrogen sold more than doubled compared with same period last year. We are pleased to observe an ever increasing number for taxies driving on hydrogen. The stations in Porsgrunn andGothenburg are suffering from long processes for approval but are steadily moving closer to normal operation. The capital raised when listing on Euronext Growth has been spent carefully through a lean and efficient organisation and station build-up. With the announcement of funding for two next-generation stations from theSweden government in July, Hynion is on track with the plan for the first network of stations inNorway andSweden ," says Ulf Hafseld, CEO of Hynion Highlights 1H2022 o The Høvik station operates with very high up-time and record-growing volumes. Taxi fleet expanding steadily. o Sandviken station (north ofStockholm ) purchased from Linde. Agreement with X-trafik to refuel two buses. o Collaboration with Hyrex within the maritime sector; Hynion to supply hydrogen to Hyrex leisure boats. o Launch of project Waterline for ten combined land and sea refuelling stations along the coastline inEast Norway . o Exploring possibilities for public co-funding inNorway andSweden for hydrogen production units and stations through applications in several projects. Key Financials o Hynion had revenues ofNOK 1.7 million in the first half 2022, compared toNOK 0.9 million for first half 2021. o Operating profit was negative15.8 NOK million, compared to negativeNOK 8.2 million for first half 2021. Net profit was negativeNOK 15.8 million , compared to negativeNOK 8.2 million for first half 2021 o The cash balance at end of the reporting period wasNOK 21.1 million , compared toNOK 56.1 million at the end of first half 2021 Important events after the end of the period Funding of 61,4 MSEK for two new, large stations received from Swedish authorities early July. Giving a substantial contribution to the development of Hynions next phase of expansion. The stations shall be in operation by end Q3 2023 and have capacity of 1500 kg/day to serve heavy duty transports. The Interim Report is attached and can also be found on our website www.hynion.com For additional information, please contact: Ulf Hafseld, CEO, +47 908 94 153, uh@hynion.com Vibeke Schönfeld, CFO, +47 454 87 101, vs@hynion.comSlavica Djuric , Investor Relations and Man.dir. Hynion Sverige, +46 73 072 6076, sd@hynion.com AboutHynion AS Hynion builds and operates hydrogen stations in and around the largest cities in Scandinavia. The company builds on experiences from the last 20 years, including world-leading projects such as HyNor, CUTE, Utsira wind/hydrogen, CEP Berlin, SHHP, NewBusFuel and H2ME, to name a few. The company's management also has extensive experience in establishing and operating start-up companies and years of experience in the automotive industry.
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