McPhy Energy: McPhy awarded a major contract in the field of green hydrogen pipeline supply with HMS Oil & Gas in Germany

• A strategic project for HMS with a total of 64 MW implemented in 2 steps
• Supply of four McLyzer 3200-30 to HMS Oil & Gas division in Germany, which will be operated as part of a major tie-in point for the hydrogen grid at the Radeland Compression station in Brandenburg
• A key milestone contract to start manufacturing within the Gigafactory in Belfort, supported by the San Miniato plant in Italy
• Final investment decision on the Djewels project expected in the first half of 2024

Grenoble, France, December 18, 2023 - 7:30 am CET - McPhy Energy, specialized in low-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), today announces the signing of a major contract with HMS Oil and Gas division GmbH, based in Berlin, for the supply and commissioning of four McLyzer 3200-30 with a capacity totaling 64 MW.

The electrolyzers will operate on the Radeland Compression station, Brandenburg, which is connected to a pipe network connection, going from the Baltic Sea to the Southwest of Germany. Its strategic position will make this site a key contributor to the hydrogen conversion of this important Natural Gas pipeline into one of the major hydrogen pipelines, as part of the project "Flow – making hydrogen happen”. This large-scale project is the first mover project to start-up a key milestone in gas grid conversion to hydrogen in Europe, and aims at using existing infrastructure, to rapidly open up important areas across Europe for hydrogen ramp up.

The contract is structured on two phases, starting with the supply of one McLyzer 3200-30, with a capacity of 16 MW, which will be commissioned and in operation end of 2025. The second phase comprises three additional McLyzer 3200-30 to be commissioned in 2027. Those electrolyzers, of a total capacity of 64 MW, will be supplied with electricity sourced from a wind park and photovoltaic plants nearby the station and will produce up to 10,000 tons of low-carbon hydrogen per year. The final investment decision for phase I will be in 2024 and for phase II end of 2025.

McPhy has planned to start manufacturing the McLyzer 3200-30 on its newly constructed Gigafactory in Belfort with the design and engineering of very high-capacity electrolysis systems in the framework of this contract. It will be supported by the San Miniato plant in Italy for the production of stacks. McPhy will also provide long-term maintenance services.

Jean-Baptiste Lucas, Chief Executive Officer of McPhy, declares: "We are thrilled to announce the signing of a major contract with HMS Oil and Gas division in Germany for the supply and commissioning of four McLyzer 3200-30 with a capacity totaling 64 MW. McPhy once again reveals its ability to support its partners in their quest for energy transition by taking part with HMS to a large-scale project, which will highly contribute to hydrogen ramp up across Europe. With the upcoming launch of our Gigafactory, we look forward to ultimately support other key milestone projects across the region and thus further harnessing the power of hydrogen.”

Dennis Schwind, Chief Executive Officer of HMS Bergbau AG, says: "As a Berlin-based and globally active company, HMS Bergbau AG is always endeavoring to provide suitable energy solutions for all regions of the world. In addition, of course we also have a very special interest in helping to shape the changing energy environment here on our doorstep with a project of this kind."

Update on the Djewels project

The Djewels project, signed in July 2023 involves the supply of a 20-megawatt McPhy Electrolyzer in Delfzijl (Netherlands), to be operated by HyCC. As a reminder, this project is subject to a final investment decision by HyCC. HyCC aims to take this decision in the course of the 1^st half of 2024, instead of end 2023 as initially considered, pending EU approval of a subsidy from the Dutch state; this approval being in the final stage of public consultation process.

Next financial event:

• Publication of 2023 Annual Revenue, February 5, 2024, after market close

About HMS Bergbau AG

HMS Bergbau AG is an internationally active, independent commodities marketing company specialized in reliable just-in-time deliveries of raw materials, energy products, ores, cement and other commodities for industrial customers worldwide. HMS is characterized by long-standing customer relationships with leading raw material consumers in Europe, Africa, the Middle East and Asia and is open-minded in its search for new business opportunities.

About McPhy

Specialized in hydrogen production and distribution equipment, McPhy is contributing to the global deployment of low-carbon hydrogen as a solution for energy transition. With its complete range of products dedicated to the industrial, mobility and energy sectors, McPhy offers its customers turnkey solutions adapted to their applications in industrial raw material supply, recharging of fuel cell electric vehicles or storage and recovery of electricity surplus based on renewable sources. As designer, manufacturer and integrator of hydrogen equipment since 2008, McPhy has three development, engineering and production centers in Europe (France, Italy, Germany). Its international subsidiaries provide broad commercial coverage for its innovative hydrogen solutions. McPhy is listed on Euronext Paris (compartment B, ISIN code: FR0011742329, MCPHY).

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