SFC Energy AG - Press release

SFC Energy and Nel ASA enter into a joint development partnership for world's first integrated electrolyzer and hydrogen fuel cell system for industrial markets - key product to replace diesel generators

Brunnthal/Munich, Germany, August 18, 2021 - SFC Energy AG (F3C:DE, ISIN: DE0007568578), a leading supplier of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions, signs a joint development agreement with Nel ASA (Nel). The Norwegian company specialises in hydrogen production, storage systems and filling stations.

This is a joint undertaking of two market and technology leaders combining cutting edge, market proven technologies. SFC Energy brings more than 20 years of fuel cell expertise to the table. Nel as a long-time global leader in hydrogen is responsible for the electrolyzer and storage technology. Both partners combine their comprehensive know-how in the field of environmentally friendly hydrogen and fuel cell technology to meet the challenges of climate change with forward-looking energy supply solutions.

The objective is to jointly develop and market the first integrated electrolyzer and hydrogen fuel cell system that has the potential to make a significant contribution to the race-to-zero and decarbonization of the global economy: from green on-site hydrogen production to emission-free provision of electricity by the hydrogen fuel cell. Both partners aim to introduce first products to the market during the second half of 2022.

In a first step, SFC Energy and Nel address applications in a power range up to 50 kilowatts (kW). In the second step, the power range will be extended up to 500 kW.

Today, the usual incumbent solution is a conventional diesel generator for remote, mobile and backup power supply. The hydrogen fuel cell in combination with an electrolyzer to produce green hydrogen is a highly efficient and environmentally friendly alternative. The system emits no carbon dioxide (CO₂), nitrogen oxide (NO_x), carbon monoxide (CO) or particulate matter.

With this first integrated electrolyzer and hydrogen fuel cell system for industrial users, SFC Energy and Nel address a global, fast growing multi-billion Euro market.

"We have gained a visionary and innovative partner in Nel. Together with a true technology & market leader we are creating a new product category to replace diesel generators in a broad way with a 100% sustainable and emission free solution. Hereby we enter a fast growing multi-billion Euro market of industrial, critical and communication infrastructure as well as smart grid applications. This is also an important step in meeting the major challenges of climate change. The World Climate Report has clearly shown us that we must act now. Together with our partner Nel, we want to and will make an important contribution to achieving climate neutrality and a low carbon society," says Dr. Peter Podesser, CEO of SFC Energy.

"We are very excited to join forces with SFC Energy to develop hydrogen and fuel cell solutions, which has the potential to make a significant contribution towards reducing emissions from industrial applications for distributed power generation. The integrated offering can replace diesel generators with high CO₂-emissions, therefore making a significant contribution to the race-to-zero and decarbonization of the global economy. SFC Energy and Nel are both market leaders in their field, and it is great to accelerate this development based on already available and proven technology from both parties," says Jon André Løkke, CEO of Nel ASA.

For more information on SFC Energy's Clean Energy and Clean Power Management solutions, visit sfc.com.

About SFC Energy AG
SFC Energy AG is a leading provider of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 50,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich and operates production facilities in Germany, the Netherlands, Romania, and Canada. SFC Energy AG is listed on the Deutsche Boerse Prime Standard (GSIN: 756857, ISIN: DE0007568578).

About NEL | www.nelhydrogen.com
Nel is a global, dedicated hydrogen company, delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. We serve industries, energy, and gas companies with leading hydrogen technology. Our roots date back to 1927, and since then, we have had a proud history of development and continuous improvement of hydrogen technologies. Today, our solutions cover the entire value chain: from hydrogen production technologies to hydrogen fueling stations, enabling industries to transition to green hydrogen, and providing fuel cell electric vehicles with the same fast fueling and long range as fossil-fueled vehicles - without the emissions.

SFC Press contact:
Jens Jüttner
Tel. +49 89 125 09 03-32
Email: [email protected]
Web: sfc.com

SFC IR Contact:
Susan Hoffmeister
Tel. +49 89 125 09 03-33
Email: [email protected]
Web: sfc.com

NEL Contact
Ida Marie Fjellheim, Investor Relations
Tel: +47 90509291
Email: [email protected]
Web: nelhydrogen.com