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HRS And pHYnix Continue Their Collaboration For The Deployment Of European Hydrogen Mobility Projects

European Hydrogen Mobility Projects

HRS And pHYnix Continue Their Collaboration For The Deployment Of European Hydrogen Mobility Projects.

HRS, a European designer and manufacturer of hydrogen refueling stations, announced that it has signed an amendment to the framework agreement of 19 January 2023 with pHYnix, an independent European producer of green hydrogen and related services, to adapt to the deployment of pHYnix‘s hydrogen stations projects.

Under the terms of this amendment, HRS will deliver to pHYnix, before the end of 2027, 3 HRS40 stations with a capacity of 1 ton/day and 3 HRS14 stations with a capacity of 200 kg/day[1]. These 6 stations, worth a total of €12.5m, are already in production since 2023. The partners have agreed on a new payment schedule running from June 2024 to December 2027.

The order for 2 additional HRS40 stations with a capacity of 1 ton/day included in the initial framework agreement has been withdrawn. Currently in production, the cumulative sales since 2023 of these stations recognized by the percentage-of-completion method amounted to €2.1m on 31 December 2023, representing a percentage-of-completion rate of around 30%. HRS will redirect these stations to other orders currently under negotiation, with similar or similar characteristics, which will neutralize the impact of their reallocation.

In addition, a strategic partnership has been signed with pHYnix to boost sales of HRS stations, particularly in new markets. This partnership provides for technical and commercial assistance from HRS, enabling pHYnix to benefit from increased support in the eventual resale of HRS stations already acquired, and in the conclusion of new orders.

This agreement, valid until the end of 2027, reflects HRS‘s long-term commitment to the success and growth of its partners. 

READ the latest news shaping the hydrogen market at Hydrogen Central

HRS And pHYnix Continue Their Collaboration For The Deployment Of European Hydrogen Mobility Projects. source

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