Hydrogenpro Asa · OSL:HYPRO
Hydrogenpro Asa — Pareto Securities' Power and Renewable Energy Conference 2025
17 slides from Hydrogenpro Asa's conference presentation, Jan 30, 2025
Slide 1: Pareto Securities' Power and Renewable Energy Conference
Pareto Securities’ Power and Renewable Energy Conference 30 January 2025
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements and information, including assumptions, opinions and views of the Company or third-party sources, and are solely opinions and forecasts which are subject to risks, uncertainties and other factors that may cause actual results and event
Slide 3: HydrogenPro is a global provider of market-leading, large-scale green hydrogen technology & systems
HydrogenPro is a global provider of market-leading, large-scale green hydrogen technology & systems 1 THE WORLD’S LARGEST ELECTROLYSER › 5.5 MW single stack suitable for renewable energy input › A modular system that can be scaled to any size for large-scale industrial applications › Pressurized hyd
Slide 4: Serving industrial applications and hard-to-abate sectors
Serving industrial applications and hard-to-abate sectors Power-To-Gas Refinery/ Decarbonization Renewables Synthetic fuel H2 Balancing the grid + O2 H2O Fertilizer/ ammonia Water Steel Production
Slide 5: HydrogenPro has transformed into a leading OEM, delivering large projects globally
HydrogenPro has transformed into a leading OEM, delivering large projects globally Historical milestones Global presence August 2013 October 2020 November 2021 November 2023 December 2024 HydrogenPro IPO on Oslo Stock Acquired 75% in Awarded SALCOS Private placement with established Exchange, raised
Slide 6: HydrogenPro delivers 2 of the 10 largest projects (excl. China) estimated to come online in 2025
HydrogenPro delivers 2 of the 10 largest projects (excl. China) estimated to come online in 2025 (Electrolyser capacity MW p.a.) 800 500 320 250 220 200 200 100 100 100 Project 1 Project 2 Project 3 Project 4 ACES Project 6 Project 7 Salzgitter Project 9 Project 10 Source: IEA “Hydrogen production p
Slide 7: HydrogenPro – among top industry leaders
HydrogenPro – among top industry leaders ELECT RO LYZER O EM MAPPING BASED O N DELIVERED CAPACIT Y AND O RDERBO O K Challengers Leaders 1–4GW 8 leaders in the overall electrolyzer OEM landscape Orderbook (firm +non-firm)1 400MW–1GW 50–400MW 10–50MW 7 competitive 150+ companies active !"# “challenger
Slide 8: Leading industry position validated by strong partners
Leading industry position validated by strong partners 2023 revenues1 NOK 100 bn NOK 350 bn NOK 130 bn # of employees 29,717 77,778 75,066 Ownership2 16.7% 12.3% 13.3% SALCOS (100 MW) + ACES (220 MW) + Projects N/A one 5.5 MW project two 5.5MW projects North America and Main focus region(s) Europe A
Slide 9: Solid partnerships enable delivery power on large-scale projects globally
Solid partnerships enable delivery power on large-scale projects globally Customers key Scope delivered with Target customers Green hydrogen project – key components selection criteria global partners 1 2 › Well-known developers Electrolyser system › Technology of large renewable Electrolyzer Gas se
Slide 10: Global alkaline electrolyser deliveries in 2025 and 2026 estimated to exceed NOK 50bn
Global alkaline electrolyser deliveries in 2025 and 2026 estimated to exceed NOK 50bn Alkaline market forecast # Electrolyser deliveries (NOK bn) Electrolyser deliveries (GW) 98 › Estimates have come down lately 86 32,5 › Estimated 19GW to be 28,5 delivered of electrolysers in 59 2025 and 2026 combi
Slide 11: Several project cancellations in the market, but very few in HydrogenPro's pipeline
Several project cancellations in the market, but very few in HydrogenPro’s pipeline Definition Number of Projects Size (GW) Value ($bn)1 Pipeline • All active projects with 173 39.7 10.7 received invitation to bid last three years (154) (36.6) (10.1) Prioritized • Projects HydrogenPro prioritizes 52
Slide 12: HydrogenPro will meet the new requirements from the European Hydrogen Bank
HydrogenPro will meet the new requirements from the European Hydrogen Bank › On 27 September 2024, the European Hydrogen Bank introduced new terms where prospective projects will not be allowed to source more than 25% of electrolyser stacks — covering surface treatment, cell unit production, and sta
Slide 13: Superior positioning vs. other technologies
Superior positioning vs. other technologies PEM Alkaline High pressure Atmospheric pressure High pressure 3rd Gen Plant efficiency Low cooling need No noble materials Suitable for renewable energy High pressure on O2 Suitable for P2X1 plants Proven for large-scale plants Legend: Best capability Aver
Slide 14: On track to increase manufacturing capacity of 3rd generation technology to 350 MW p.a. by Q1 2025
On track to increase manufacturing capacity of 3rd generation technology to 350 MW p.a. by Q1 2025 › On track to complete the expansion with a total capex of up to NOK 70 million for production of full-sized electrodes › Installation near completion, all major equipment installed and only some pipin
Slide 15: Joint full-scale validation program with ANDRITZ
Joint full-scale validation program with ANDRITZ › Validate stack performance and operating conditions for the SALCOS project Purpose including new design improvements to reduce shunt currents and 3rd gen technology Location › Herøya, Norway › One stack w/ 50% 3rd gen technology and gas separator +
Slide 16: Key investment highlights
Key investment highlights Vast TAM and massive growth potential for green H2 underpinned by secular tailwinds Favorable government policies provide critical support; new end markets unlock a bigger TAM for green H2 HydrogenPro’s 3rd-generation technology drives significant LCOH reductions Technology
Slide 17: Powering innovation. Energizing tomorrow.
POWERING INNOVATION. ENERGIZING TOMORROW. \4ydrogenPro
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