Business update

(OSE: HYPRO) HydrogenPro ASA announced an update on its commercial pipeline, technology advances, and ongoing projects, with contract values of NOK 1 billion in late-stage contract negotiations expected to take FID within 12 months. Two contracts, representing close to 30% of the NOK 1 billion sales pipeline, are expected to conclude during the third quarter of 2026. As of 31 March 2026, the Company’s backlog was NOK 252 million. In the first quarter of 2026, HydrogenPro completed and commissioned the 220 MW first stage of the ACES project in Utah, supplying all 40 electrolysers. The ACES hub is designed to produce and store up to 100 tonnes of green hydrogen per day, with a long-term target to reach 100% green hydrogen. HydrogenPro is also the exclusive supplier of 100 MW electrolyser systems to SALCOS for decarbonization of the steel plant in Salzgitter, Germany. The company reported a specific energy consumption of 4.4 kWh/Nm³ on 13 May 2026, with lab-scale improvements showing 4.2 kWh/Nm3 (Beginning of Life) being obtainable.

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