13 May 2024 - Maris Fiducia Norway has entered into cooperation agreements with
maritime technology company HAV Hydrogen and the hydrogen producer and
distributor Norwegian Hydrogen with the objective of developing, building and
operating hydrogen-powered dry-bulk vessels in Europe. 

The vessels are designed by the Dutch ship designer Ankerbeer. Upon successful
realization of the project, the vessels will go on hire through a zero-emission
time charter agreement with Schulte & Bruns, establishing a commercial operation
for vessels operating on hydrogen fuel, proving the feasibility of hydrogen
technologies for shipping. The vessels shall be classed by DNV and registered in
the NIS register. 

"Maris Fiducia is dedicated to shaping the future of maritime transportation
towards environmental sustainability and our chartering partners Schulte & Bruns
share this vision. Using hydrogen as fuel is a natural step in this development
and the versatility of HAV Hydrogen's ZEPOD, coupled with Norwegian Hydrogen's
hydrogen infrastructure, represent what is required to realise such ambitions,"
says Markku Vedder, CEO of the Maris Fiducia Group. 
 
The group operates a fleet of over twenty dry cargo and tanker vessels, and
their Norwegian subsidiary Maris Fiducia Norway AS shall operate the
hydrogen-powered vessels. The group's primary focus is environmentally friendly
maritime transportation logistics for reputable customers. The company has
decades of experience with the development of advanced ship design and solutions
for sustainable shipping with a track-record of over 100 newbuilds. 

HAV Hydrogen brings their specialist competence in the development of complete
and scalable hydrogen-based energy systems to the partnership. The company has
developed and obtained Approval in Principle from DNV for its Zero Emission Pod
- ZEPOD® - a deckhouse containing a complete hydrogen energy system for ships.
Installed power from a ZEPOD® can be used for main propulsion systems or for
auxiliary power onboard a vessel. 
Subject to potential innovation funding, Maris Fiducia's chosen shipyard will
order ZEPODs from HAV Hydrogen for use on board the vessels.

"As a specialist supplier and integrator of maritime fuel cell solutions, there
is obviously a limit to how much we can influence the maritime industry on our
own. By collaborating with a shipowner and a producer of green hydrogen, we
enable a value chain approach that can tear down further barriers towards
realisation of hydrogen as maritime fuel," says Kristian Osnes, managing
director of HAV Hydrogen, which is part of Euronext Growth Oslo-listed HAV Group
ASA.

Norwegian Hydrogen is building an array of hydrogen production sites throughout
the Nordics and will operate a comprehensive distribution network for green
hydrogen. This capability shall provide security of supply for Maris Fiducia and
Schulte & Bruns. 

"The cooperation with Maris Fiducia and their founder Markku Vedder, proves
there are shipowners with the vision and capability to develop zero-emission
shipping solutions. We look forward to the journey onwards together with Maris
Fiducia, establishing corridors for sustainable shipping throughout Europe",
says Jens Berge, CEO of Norwegian Hydrogen. 

(ENDS)

For further information, please contact:
Gunnar Larsen, CEO 
gunnar.larsen@havgroup.no 
+47 901 05 694

About HAV Group | www.havgroup.no 
The HAV Group is an international provider of technology and services for
maritime and marine industries, listed on Euronext Growth under the ticker code
HAV. The group comprises four subsidiaries with several decades of combined
experience in the industry, in addition to special expertise in guiding the
marine and maritime industries through the green shift and towards the goal of
zero emissions.

About HAV Hydrogen | www.havhydrogen.no 
HAV Hydrogen delivers complete and scalable hydrogen systems for use on board
large and small vessels, newbuilds and retrofitted. Based on our Norwegian
heritage, experience, quality focus and innovative solutions, our insight
provides our customers with a head start, increases their competitiveness, and
enables them to realize the green shift towards a sustainable future at sea.

About Maris Fiducia
Maris Fiducia, a family-owned company, was established in 2007 and aims to be an
innovative leader and best-in-class supplier of environmentally friendly
maritime transport solutions. Through its subsidiaries, the group operates a
quality fleet of well-maintained tankers and dry cargo ships which are in daily
operation. The group has a clear strategy towards environmentally friendly sea
transport and logistics solutions for well-known customers, and transport of
sustainable products to different industry sectors. The shipping company
operates primarily in the North Sea basin, the Baltics and SECA areas (Sulphur
Emission Control Area), but also has missions over longer distances and
intercontinentally. In addition to Maris Fiducia Norway, the other group
companies Grona Ship Management, South End Tanker Management (Wet Cargo) and
Q-Shipping (Dry Cargo) support daily operations and the newbuilding programs.  

About Norwegian Hydrogen
Norwegian Hydrogen AS builds and operates a comprehensive network of production
sites and distribution systems for green hydrogen throughout the Nordics,
tailored to meet the future requirements for zero-emission energy in a wide
range of mobility and industrial segments. The company is backed by several
strong industrial owners with a significant footprint within the global hydrogen
value chain, such as Fortescue, Mitsui & Co., Ltd, Flakk  Group, Hexagon Purus
and Norwegian hydropower company Tafjord. Norwegian Hydrogen's head office is in
Ålesund, Norway, and they also have offices in Oslo, Helsinki, Copenhagen and
Stockholm.
www.norwegianhydrogen.com