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France: GAUSSIN and HRS Announce Strategic Partnership Including the supply by HRS of 36 Hydrogen Stations by 2026

By September 30, 2021 4   min read  (670 words)

September 30, 2021 |

Fuel Cells Works, France: GAUSSIN and HRS Announce Strategic Partnership Including the supply by HRS of 36 Hydrogen Stations by 2026

GAUSSIN a pioneer of clean and smart freight transport, and HRS – Hydrogen-Refueling-Solutions (EURONEXT GROWTH ALHRS FR0014001PM5), European designer and manufacturer of hydrogen refueling stations, announce signing today a term-sheetto implement a partnership, with exclusivity on European Union territory, for the supply of 36 HRS hydrogen refueling stations between 2021 and 2026, aiming to support the rollout of GAUSSIN’s turnkey hydrogen mobility solutions for on-roadand off-roadapplications.

On the occasion of this operation, HRS will subscribe to a capital increase of GAUSSIN for a total amount of €7 million in cash, at the unit subscription price of €6.20 for the new shares.

A PACKAGED OFFER TO PROMOTE ACCESS TO HYDROGEN AND SATISFY STRONG DEMAND FOR H2 MOBILITY SOLUTIONS

The involvement of HRS with GAUSSIN’s hydrogen ecosystem and its expertise in the field of refueling station, a key component of the value chain, will enable each partner to join forces to propose a global offer for low- carbon mobility, accelerating the adoption of this energy perfectly suited to GAUSSIN’s heavy vehicle applications.

In detail, the partnership aims to develop a turnkey solution marketed by GAUSSIN, comprising zero-emission vehicles for multiple uses (airports, logistics, ports, Smart Cities, roads) resulting from technological innovations in its research and development center, and the latest-generationHRS hydrogen refueling station. The stations will be manufactured on the HRS site in the Grenoble metropolitan area.

As part of this exclusive partnership on European Union territories, it is planned that HRS will supply a minimum of 36 hydrogen stations to GAUSSIN or its customers over a period of five years. They can, if they wish, rely on the new leasing solution established with BNP PARIBAS Leasing Solutions. The agreement foresees a gradual ramp-up,starting with the supply of 4 stations of 200 kg/day in 2021/2022, the first two will be ordered within 30 days of HRS’s subscription to GAUSSIN’s capital increase.

Fuel cells works, hydrogen, Refueling, solutions, HRS, fuel cells

WORKING TOGETHER TO SUPPORT THE EUROPEAN HYDROGEN INDUSTRY DEVELOPMENT

HRS also announces today that it has undertaken to subscribe to a €7 million capital increase in GAUSSIN (€6.20 per share). The partnership between the two companies aims to work jointly on the development of the hydrogen sector in Europe, where heavy mobility is set to play a major role in the coming months.

“HRS’s expertise and its international recognition in the field of hydrogen refueling stations makes us confident in our ability to deliver robust and reliable solutions while simplifying our value proposition for our customers with a packaged offer integrating the production and distribution of hydrogen, in addition to GAUSSIN vehicles, together with all the associated services.” said Christophe Gaussin, Chairman and CEO of GAUSSIN.

“This is a historic agreement for the deployment of hydrogen in Europe. Our new collabaration both commercial and capitalistic, with a player as dynamic and ambitious as GAUSSIN, will allow progress in structuring the sector and help accelerate deployment of our hydrogen mobility solutions. Large-scale projects are emerging, thanks to European stimulus plans. With this new partnership, the first global turnkey offer will meet this massive demand through the joint innovation of our two groups,” added Hassen Rachedi, Founder and Chairman and CEO of HRS.

About GAUSSIN

GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.

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