HydrogenPro (HYPRO) Pareto Securities' 31st annual Energy Conference Presentation summary

Company overview

• Global provider of large-scale green hydrogen technology and systems, specializing in market-leading electrolyzer solutions for industrial applications and hard-to-abate sectors.

• Offers the world's largest electrolyzer (5.5 MW single stack), scalable for industrial use and compatible with renewable energy input.

• Game-changing electrode technology reduces energy and cooling water needs, lowering operational costs and levelized cost of hydrogen (LCOH).

• Serves industries such as steel, refineries, synthetic fuels, grid balancing, and fertilizers, supporting decarbonization and energy transition.

Growth and market position

• Achieved transformational growth since IPO in 2020, expanding manufacturing capacity from 0 MW to 500 MW and increasing revenue and backlog significantly.

• Delivers 2 of the 10 largest non-China hydrogen projects expected online in 2025, highlighting strong commercial traction.

• Recognized among top industry leaders, with a robust orderbook and delivered capacity, competing with major OEMs like Siemens Energy and thyssenkrupp nucera.

Business model and global expansion

• Operates a scalable, flexible business model with recurring revenues from technology, assembly, service, and plant delivery.

• Strategic partnerships with global industrial players and a growing installed base drive after-sales and recurring revenue.

• Global presence includes manufacturing in China (Tianjin, 500 MW), Denmark, and pilot testing in Norway, with plans for further expansion in Europe and beyond.