McPhy Energy: McPhy awarded a new firm contract in the industrial field for the supply of a McLyzer 800 to AAK in Sweden

• Supply of a 4 MW McLyzer 800-30 and related spare parts to the Swedish company AAK with commissioning expected in 2025

Grenoble, March 13, 2024 – 6:00 pm CET – McPhy Energy, specialized in low-carbon hydrogen production and distribution equipment (electrolyzers and refueling stations), today announces that it has been awarded a firm contract to supply a McLyzer 800-30 electrolyzer with a 4 MW capacity and related spare parts to the Swedish company AAK, a major global player in the food oil processing industry.

The McLyzer 800-30 electrolyzer will enable AAK to renew its equipment on its manufacturing plant in Sweden and to use the low-carbon hydrogen produced as a process gas. AAK will thus benefit from uninterrupted hydrogen supply, while reducing its CO₂ emissions. AAK has been operating with electrolyzers for more than 60 years and is now selecting McPhy for both its experience and project execution capacity.

The commissioning of the equipment supplied by McPhy is expected for the second quarter of 2025. With this contract, McPhy has recorded a new reference in the industrial field and is pursuing its scale-up.

Jean-Baptiste Lucas, Chief Executive Officer of McPhy, states: "We are delighted with this contract with AAK, which is a vote of confidence in our technology and will help the Company to reduce its CO₂ emissions. At a time when we are concentrating our efforts on our electrolyzers business, this new reference confirms full potential of McPhy’s solutions to enable industrial companies to commit in energy transition.”

Next Financial events:

• Combined General Meeting on May 30, 2024
• Publication of 2024 half-year results on July 30, 2024, after market close

ABOUT AAK

Everything AAK does is about Making Better Happen™. We specialize in plant-based oils that are the value-adding ingredients in the products people love to consume. We make these products better tasting, healthier, and more sustainable. At the heart of AAK's offering is Customer Co-Development, combining our desire to understand what better means for each customer with the unique flexibility of our production assets and deep knowledge across products and industries. 4,000 employees support our close collaboration with customers through 25 regional sales offices, 15 dedicated Customer Innovation Centers and support of more than 20 production facilities. Listed on Nasdaq Stockholm and with our headquarters in Malmö, Sweden, AAK has been Making Better Happen for more than 150 years.

ABOUT MCPHY

Specialized in hydrogen production and distribution equipment, McPhy is contributing to the global deployment of lowcarbon 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 C, ISIN code: FR0011742329, MCPHY).

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• 2024.03.13_PR_McPhy_Partenariat AAK_EN