Herning and Fredericia, 27 June 2022 - Everfuel A/S and Crossbridge Energy A/S
have signed a long-term agreement stipulating the terms for hydrogen supply from
the first stage of Everfuel's HySynergy Phase II PtX facility which is under
development in Fredericia, Denmark. The agreement is an important step in the
realisation of the planned 300MW electrolyser plant.
The two project partners have agreed on the commercial terms for the initial
stage of the electrolyser facility which will be developed in three stages (A, B
and C) each with 100 MW electrolysis capacity.
Section A will have a production capacity of up to 40 tons of green hydrogen per
day, which will be used for more sustainable fuel production at the adjacent
Crossbridge Energy refinery, and as a zero-emission fuel for mobility and
industry.
"The long-term agreement on commercial terms with Crossbridge Energy is an
important enabler for the HySynergy Phase II development project. We share a
strong partnership and are eager to continue our collaboration on building a
large-scale PtX facility as a game changer for the energy transition in Denmark.
Before that, we of course look forward to starting operations of the Phase I
electrolyser facility later this year and deliver the first green hydrogen to
our partners and our stations," says Jacob Krogsgaard, the CEO of Everfuel.
"Hydrogen is the key to unlocking the full potential of green fuels. With
Crossbridge Energy's refinery and the Everfuel's HySynergy project, we are
taking a great leap forward towards more sustainable fuels. Initially, we will
replace hydrogen based on fossil fuels with green hydrogen at our refinery, but
we are also starting the next step of the Danish PtX journey," says Finn
Schousboe, the CEO of Crossbridge Energy.
The second phase of HySynergy, will when fully operational as planned in 2025,
facilitate an annual reduction of up to 500,000 tonnes of carbon emissions from
the mobility sector and industry. This corresponds to approximately 11 % of the
annual Danish land-based transport sector's carbon emissions. Crossbridge
Energy and Everfuel will further develop partnership agreements with external
parties for the supply of excess oxygen and heat from the new facility to
increase its overall efficiency.
The first phase of HySynergy, which consists of a 20 MW electrolyser, is
currently under construction next to the Crossbridge Energy refinery and is
expected to produce the first green hydrogen in late 2022. The second phase will
be developed in connection with Phase I. The land plot is already outlined and
prepared for construction subject to receiving IPCEI funding from the EU for the
stage A electrolyser.
For additional information, please contact
Torben Øllegaard Sørensen, External Relations Advisor, Crossbridge Energy
Fredericia, +45 4077 9257
Lea Vindvad Hansen, Investor Relations & Communications Manager, Everfuel, +45
6183 0205
About Crossbridge | crossbridgepartners.com
Crossbridge is a leading energy platform with an environmental focus on
developing and driving sustainable energy solutions. Crossbridge acquired the
A/S Dansk Shell refinery (renamed to Crossbridge Energy A/S) in June 2022.
Crossbridge Energy supplies approximately 35% of the total Danish liquid fuel
consumption. Crossbridge is focused on transitioning traditional energy
infrastructure and growing through acquisition in North America, Europe and
other locations. The platform has $2.0 billion in annual turnover.
About Everfuel | www.everfuel.com
Everfuel is making green hydrogen for zero emission mobility commercially
available across Europe, offering competitive all-inclusive hydrogen supply- and
fueling solutions. We own and operate green hydrogen infrastructure and partner
with vehicle OEMs to connect the entire hydrogen value chain and seamlessly
provide hydrogen fuel to enterprise customers under long-term contracts. Green
hydrogen is a 100% clean fuel made from renewable energy and key to
electrification of the transportation sector in Europe and a sustainable future.
We are a young ambitious company, headquartered in Herning, Denmark, and with
activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and
a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo
under EFUEL.
This information is considered inside information pursuant to the EU Market
Abuse Regulation and is subject to the disclosure requirements pursuant to
Section 5-12 the Norwegian Securities Trading Act.