DGAP-News: 2G Energy AG receives first hydrogen order in North America

2G Energy AG receives first hydrogen order in North America

Heek, May 03, 2022 - 2G Energy AG (ISIN DE000A0HL8N9), one of the leading international manufacturers of gas-powered combined heat and power (CHP) systems, received an order in April for the delivery of a hydrogen-powered CHP system of the agenitor 404c H2 type from a company in the energy sector in North America. This is the first hydrogen project that 2G has received on the American continent.

The customer has its own electrolyzer and consequently large volumes of hydrogen, which will be converted into electricity and heat as needed with the help of 2G's H2 CHP system.

"Having already sold several hydrogen CHP units to European countries outside Germany and especially to Japan, we are now pleased that our hydrogen solutions are also gaining recognition in North America. Our first successful placement of a hydrogen CHP in North America is also an incentive to further strengthen and expand our global technology leadership in hydrogen," comments CEO Christian Grotholt. "All other CHP systems with 2G engine concepts that we deliver can also be converted for operation with hydrogen or biogas at a later date. For example, retrofitting can be performed cost-effectively on-site where the system is located as part of a major scheduled overhaul."

In total, 2G has already sold four fully hydrogen-powered systems to date during the current financial year. Further projects are currently under negotiation and will lead to new order intake over the course of the year.

"New order intake for CHP systems powered by alternative gases grew by 39% in Q1 2022 compared to Q1 2021, and now account for well over one third of our new order intake," notes CFO Friedrich Pehle. "Many lean gas projects, such as in the area of gas from purification plants or at landfills, have gained tremendously in profitability with the new price levels for thermal and electrical energy, and sustainably so."

2G company portrait

The 2G Energy AG Group is an internationally leading manufacturer of decentralized energy supply systems. With the development, production and technical installation as well as digital grid integration of combined heat and power systems (CHPs), the company offers comprehensive solutions in the growth market for highly efficient CHPs. Aftersales and maintenance services comprise an important additional performance criterion. The product range especially includes CHP modules in the 20 kW and 4,500 kW range for operation utilizing hydrogen, natural gas, biogas, as well as other lean gases. Worldwide, more than 7,000 installed 2G systems in various applications supply electrical and thermal energy to a broad spectrum of customers including companies in the housing industry, agriculture, commercial and industrial companies, public energy utilities, and municipal and local government authorities.

2G benefits from global long-term trends that make efficient and decentralized energy solutions ever more important. These trends include not only rising energy demand but also the need to conserve natural resources. The parallel generation of electrical and thermal energy makes CHP technology more efficient and climate-compatible than conventional energy coversion methods, especially when, for example, hydrogen of regenerative origin is harnessed as fuel. 2G power plants can offset wind and solar power plant production fluctuations as required, thereby forming a backbone technology for future supply concepts, especially in the deployment of hydrogen engines. 2G's customers thereby derive consistent benefits from economically and ecologically highly beneficial innovations that rapidly pay for themselves and create extensive added values.

2G is consistently expanding its technological leadership through continuous research and development work, both in gas engine technology for hydrogen, Natural Gas and biogas applications, as well as in specific software development. Moreover, in the energy revolution's future electricity market design, the digitalization that 2G consistently implements forms an indispensable system-relevant element in combination with solar, wind, biogas and natural gas producers, and establishes a high barrier to market entry for competitors.

2G employs around 750 staff at its headquarters in Heek, Germany, in North America, as well as at five other European locations. The company is active in more than 50 countries and generated net sales of EUR 266 million in the 2021 financial year. 2G was founded in 1995 and has been listed on the stock market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the "Scale" segment of the Frankfurt Stock Exchange.

2022 calendar dates
May 19 Q1 key figures and business trends
May 23-25 Spring Conference, Frankfurt
June 3 Ordinary AGM, Ahaus
September 5 Consolidated financial statements for H1 2022
September 5-6 Autumn Conference, Frankfurt
November 21 Q3 key figures and business trends
November 28-30 German Equity Conference, Frankfurt

IR contact
2G Energy AG
Benzstrasse 3, 48619 Heek
Phone: +49 (0) 2568 93 47-2795
Fax: +49 (0) 2568 93 47-15
Email: ir@2-g.de
Internet: www.2-g.de