HRS SUPPLIES THE FIRST DEDICATED HYDROGEN STATION FOR THE SIMULTANEOUS REFUELLING OF 19 BUSES FOR THE LORIENT AGGLOMERATION

Laying of the foundation stone for this hydrogen station to be commissioned by the end of 2023

Grenoble, May 11, 2023 – HRS , a European designer and manufacturer of hydrogen refueling stations, announces the laying of the first stone of a hydrogen refueling station in Lorient, ordered in December 2022 (see press release).

For several years now, Lorient Agglomération, Brittany's third largest urban conglomeration, has been pursuing a bold energy transition policy to address the global challenges of limiting climate change. Motivated by a fierce determination to decarbonize its transport system, Lorient Agglomération is aiming to accelerate the decarbonization of the surrounding area and to reduce transport-related greenhouse gas emissions by 78%. With the support of ADEME, the Brittany regional authority and Morbihan Energies, a project to roll out an ecosystem for the production and distribution of green energy in the region has accordingly been launched. By 2030, the entire thermal bus and boat-bus fleet is gradually to migrate to low-carbon alternative solutions, some of which will run on hydrogen.

To that end, HyGO, a company combining ENGIE Solutions and the public-private partnership 56 Energies, leader of the mobility limb of the project, has entrusted HRS with the supply and installation of a green hydrogen refueling station due to be commissioned in the fall of 2023.

This station will supply vehicles in fast charge and the 19 hydrogen buses, soon to be deployed by Lorient Agglomération, simultaneously in slow charge, a first for a large capacity station in France.

The first stone was laid on the site of the bus depot on May 9, 2023, with Fabrice Loher, President of Lorient Agglomération, marking the launch of construction work for the bus depot's distribution site. The Lorient hydrogen refueling station will be the second in the Morbihan department, after the station installed by HRS on the Michelin site in Vannes in 2022 (see press release).

Hassen Rachedi, HRS Founding Chairman and CEO, said: “We are proud to be involved in this bold Lorient Agglomération project alongside leading sector players like ENGIE Solutions and 56 Energies. This first step towards installing a new HRS hydrogen refueling station, only a few months after the order was placed, once again demonstrates our ability to respond quickly to large-scale hydrogen mobility needs. The simultaneous refueling of 19 buses will constitute unique infrastructure in France, which we hope to replicate as soon as the opportunity arises.”

ABOUT HRS

Founded in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is pioneer in hydrogen mobility. European designer and manufacturer of hydrogen refueling stations, for over ten years, the Company has been committed to reducing transport emissions.

Thanks to its unique experience and know-how, HRS has developed a complete range of hydrogen refueling stations for all types of fuel cell vehicles that is perfectly suited to the needs of a fast-growing European market. At its Champ-sur-Drac site, HRS has mass production capacities that enable it to assemble up to 60 units per year in record time, in as little as 8 weeks.

The Company posted 2021/2022 revenue of €17.0 million. As of June 30, 2022, the company had 78 employees. (ISIN code: FR0014001PM5 - ticker symbol: ALHRS).

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