Industrie De Nora S p A : De Nora opens a new plant in Okayama, Japan

Milan/Okayama, 28th March 2024 - Industrie De Nora S.p.A. ("De Nora"), an Italian multinational listed on Euronext Milan, specializing in electrochemistry, a leader in sustainable technologies and the emerging green hydrogen industry, has inaugurated a new production facility in Okayama, Japan, to strengthen its presence in the country further and consolidate its position as a leading global supplier of electrolyzers.

The new plant in Okayama, inaugurated yesterday in the presence of De Nora CEO Paolo Dellachà of the local Senior Management, confirms the strategic role of Japan and Asia as the Group's production centers, serving international customers and the local market. De Nora has been in the country since 1969, initially as a joint venture with Mitsui & Co., and since 2010, with total shares of De Nora Japan. The Japanese company is headquartered in Fujisawa- one of the Group's largest and most advanced electrode production centers - and a plant in Okayama, to which this expansion is now added. De Nora thus positions itself as a highly qualified manufacturer in the country's electrochemical sector, with 2 production plants and as many R&D sites, where 360 employees work, of which the newly opened production line has created 50 new job positions.

The new area will be dedicated to producing and assembling electrolyzers intended for the main outlet markets (chlorine soda, hydrogen production, water treatment), thus meeting the growing customer demand. In detail, DSA® electrodes, made at the Fujisawa plant, will be used to construct cells and electrolyzers at the Okayama center. Okayama's already established expertise, know-how, and role as a center of technological excellence were the considerations behind the decision to expand De Nora's presence in this area, which has also always been characterized by the availability of a flexible supply chain and highly skilled resources.

The project is part of the Group's multi-year plan for international consolidation and expansion of production capacity in anticipation of De Nora's increasingly central role worldwide. This expansion program is in full development and has recently seen the inauguration of a new electrode production line at the Group's main Chinese site in Suzhou in November 2023 and the opening of a new workshop in India in January 2024.

Paolo Dellachà, CEO of Industrie De Nora, commented: "Today we celebrate the opening of the new Okayama plant, which represents another relevant step in the Group's strategy aimed at increasing production capacity and strengthening its international reach, following the expansion of the Suzhou site in China, the opening of the new workshop in India, the ongoing expansion of the site in Germany and the expansion of the site in Ohio-USA. We are a multinational player in the energy transition that facilitates the decarbonization process through our solutions. Being able to rely on new production sites and a more direct territorial presence is key to ensuring a widespread local action and strengthening our leadership position worldwide."

Makoto Okura, president of De Nora Japan, added: "Today marks a historical day for De Nora Japan, a new chapter in the company's long journey in Japan, which began in 1969. Japan and the Fujisawa and Okayama R&D and production centers have always driven the Group's technological innovation and strategic areas for De Nora's international presence. We are proud of this expansion of the production lines in Okayama since it represents an important industrial advancement and, above all, confirms the continuous evolution of De Nora Japan".

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Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange, specializing in electrochemistry, a leader in sustainable technologies, and has a pivotal role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and non-ferrous metal refining). Industrie De Nora is also among the world's leading suppliers of water filtration and disinfection technologies (for the industrial and municipal sectors) and the world's leading supplier of swimming pool disinfection components. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition. In this sector, the company also holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.
Founded in 1923, Industrie De Nora generated around EUR 856 million in total revenues and an Adjusted EBITDA of approx. EUR 171 million in 2023. The Company's growth process has developed organically through continued penetration of new markets and applications and acquisitions in the U.S., Asia, and Europe. De Nora's continuous innovation drives its growth, represented by its evolving intellectual property portfolio, which currently includes more than 280 patent families with more than 2,800 territorial extensions. The De Nora family controls the Group, which owns 53.3% of the Company's share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.

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