Herning, Denmark, 13 December 2024 - Everfuel A/S' is pleased to announce that its subsidiary Everfuel Production Karlstad AB have been awarded a grant by the Swedish Environmental Protection Agency under the Climate Leap (Klimatklivet) investment program following a funding application made in 2022, for the potential 20 MW electrolyser project. The project is a joint initiative with the local utility company, Karlstads Energi.   

The project grant is subject to the parties moving forward with the project and fulfilling the grant conditions. If finally awarded, the grant would be in an amount of up to EUR 13.9 million (SEK 159.7 million), which would provide partial financing of the potential hydrogen production project in Karlstad. The project is not included in Everfuel's updated strategy as announced in May 2023. Everfuel and Karlstads Energi are jointly exploring various options for the realisation of the project.

For further information, please contact:

Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945
Mads Tirsgaard Mortensen, Investor Relations Director, Everfuel, mm@everfuel.com, +45 7730 4727

About Karlstads Energi | www.karlstadsenergi.se

We light up your home, ensure your oven works and we charge your mobile phone. We provide comfort in your home and your screens with information and entertainment. Around 42,000 households and businesses are reached by our renewable electricity and over 50,000 residents of Karlstad enjoy our district heating at home, at school or at work. When our relationship is at its best, you don't give us a second thought, even though we're with you 24/7. Through our recycling services, we collect and take care of the municipality's household and business waste and manage Karlstad's six recycling centers. We believe in second chances and together we contribute to increased reuse and a more sustainable life for you and your waste.

About Everfuel | www.everfuel.com

Everfuel own and operate green hydrogen infrastructure and partner with industry and 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 energy carrier made from renewable solar and wind power and key to decarbonising industry and transportation in Europe. We are an ambitious, rapidly growing company, headquartered in Herning, Denmark, and with activities in Denmark, Germany and The Netherlands, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.