HRS and Haffner Energy sign a strategic memorandum of understanding for the supply of green hydrogen production – distribution solutions for mobility.
HRS, designer and manufacturer, European leader in hydrogen refueling stations, and Haffner Energy, designer and manufacturer of technologies and services enabling its customers to produce carbon-free hydrogen, announce that they have signed a Memorandum of Understanding for the establishment of a strategic and capital partnership.
In this context, HRS and its majority shareholder have committed to subscribe for €8 million in new shares to be issued on the occasion of Haffner Energy’s IPO.
HRS and Haffner Energy, two French hydrogen leaders, are combining their unique know-how to develop carbon-free mobility.
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The signed agreement, aimed at the establishment of a strategic partnership with an initial duration of 3 years, will make it possible to offer common solutions for mobility, including Haffner Energy’s Hynoca® green hydrogen production by biomass thermolysis, and HRS refuelling stations for hydrogen electric vehicles.
The two partners intend to offer a 100% green solution to accelerate the deployment of the hydrogen sector in France and Europe. Hynoca® is a competitive and unique technology dedicated to the production of green hydrogen allowing the sequestration of 16 kg of CO2 per kg of hydrogen produced with a carbon footprint of -12 kg of CO2 net.
This partnership also includes a mutual distribution agreement in which Haffner Energy will systematically and exclusively offer its customers an option to integrate HRS stations.
In return, HRS will offer Hynoca® Mobility solutions to its customers looking for 100% green alternatives to electrolysis. For these joint projects, the provision of the partner’s solution will be carried out through a simple supply contract or through the creation of a consortium.
In order to perpetuate the partnership, HRS will participate to the tune of €3 million in the capital increase of Haffner Energy as part of the admission of its shares on the Euronext Growth Paris market as an industrial investor.
In addition, HR Holding, the majority shareholder of HRS, whose capital is 93.16% owned by Hassen Rachedi, Chairman and Chief Executive Officer of HRS, will also subscribe for €5 million, bringing the total investment of the Company and its majority shareholder to €8 million.
Hassen Rachedi, Founder and Ceo of HRS added:
This new strategic partnership with such an innovative and ambitious player as Haffner Energy is another important step in the development of HRS.
“The combination of our two complementary know-how will make it possible to offer global solutions ranging from the production to the distribution of green hydrogen. We also wish Haffner Energy all the best for this first step in its stock market life which is an exhilarating adventure.”
Philippe Haffner, Co-Founder and Chief Executive Officer of Haffner Energy, alongside his brother Marc Haffner, Deputy Chief Executive Officer, adds:
We are delighted with this partnership with HRS, as it will enable us to offer our customers an integrated and agile solution, with a strong potential for synergies.
“Hynoca ‘super green’ hydrogen production modules for mobility can be installed locally, where hydrogen is needed and without any particular constraint of access to electrical energy, which is very differentiating, both for private and public uses.”
ABOUT HRS
Created in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is a pioneer in hydrogen mobility. European designer and manufacturer of hydrogen refuelling stations, the Company has been committed to the decarbonisation of transport for more than 10 years.
With unique know-how and experience, HRS has developed a complete range of hydrogen refuelling stations that can be used by all types of hydrogen electric vehicles and perfectly adapted to the needs of a fast-growing European market.
At its Champ-sur-Drac site, HRS has a series production capacity capable of assembling up to 60 units per year in record time, up to only 8 weeks.
In the 2020/2021 financial year, the Company generated revenue of €10.5 million. As of June 30, 2021, the company had 38 employees. ISIN code: FR0014001PM5 – mnemonic: ALHRS
ABOUT HAFFNER ENERGY
A family-owned company co-founded and co-managed by Marc and Philippe Haffner, a player in the energy transition for 28 years, Haffner Energy designs and provides technologies and services that enable its customers to produce carbon-free hydrogen from thermolysis and vaporeforming of biomass through its HYdrogen NO Carbon (“Hynoca®”) process.
This process allows the production of a hydrogen at a highly competitive cost, negative carbon of 12 kg (net) of CO2 per kg of hydrogen, while depending very little on the electricity grid and the cost of electricity.
Haffner Energy announced on January 14 the approval of its Registration Document by the Autorité des marchés financiers as part of its proposed initial public offering on Euronext Growth® in Paris.
The Registration Document can be downloaded from the www.haffnerenergy-finance.com website.
HRS and HAFFNER ENERGY sign a strategic memorandum of understanding for the supply of H production/distribution solutions2 green for mobility, Grenoble, Vitry-le-François, France, January 26, 2022
