Update on pHYnix and Hype Assets CLIENTS

Grenoble, March 11 2025 - HRS, European leader in hydrogen refueling stations, provides an update on the latest developments regarding pHYnix and Hype Assets clients.

Update on the situation with pHYnix

HRS has noted that its client pHYnix was placed under court-supervised administration on 6 March 2025, with a 6-month observation period.

The stations currently under production have not been delivered and remain stored at HRS.

In case of a final default by pHYnix, these stations could ultimately be reallocated to other solvent clients, subject to the necessary technical adaptations made to meet the specific requirements of new projects.

Update on the situation with Hype Assets

Despite multiple attempts to reach an amicable resolution, HYPE Assets has still not honored its commitments and has provided no visibility on the installation schedule for the stations, which are ready to be delivered by HRS.

HRS has entered into litigation in order to enforce its rights and will keep the market informed of any significant developments in this matter."

For both situations, the accounting impacts will be specified with the half-year results, as scheduled on April 24.

NEXT PUBLICATION

Half-year results 2024/2025 on 24 April 2025 after close of trading.

ABOUT HRS (HYDROGEN REFUELING SOLUTIONS)

HRS is a world leader in large-capacity hydrogen refueling stations. HRS offers a complete and unique range of modular and scalable stations, from 200 kg/day to 4 tons/day.

Pure player from design to commissioning, HRS boasts state-of-the-art industrial production facilities capable of assembling up to 180 stations a year, with lead times of 6 to 12 weeks. This industrial site includes a test area, the only one of its kind in Europe, to test and trial the range of stations and develop future products and solutions for the hydrogen mobility market.

HRS has a hydrogen agnostic approach, allowing the use of any type of hydrogen (green, blue, grey, etc.). Our stations are compatible with all hydrogen production solutions and independent of manufacturers. This flexibility enables customers to choose the hydrogen supplier best suited to their needs in terms of cost, availability and carbon footprint.

HRS also offers a comprehensive service package, including 24/7/365 on-call maintenance. The performance of stations installed in Europe and around the world is monitored in real time from the state-of-the-art control room.

Today, HRS has one of the largest installed bases of high-capacity stations on the market, with twenty-eight stations ranging from 200 kg to 1 ton/day, representing a cumulative capacity of over 6 tons/day. All station terminals are bi-pressure and equipped with 350-bar, 350-HF and 700-bar nozzles, meeting all the needs of hydrogen mobility.

HRS stands out for its rigorous economic discipline, offering long-term financial solidity while continuing to allocate adequate resources to R&D, thus ensuring its position at the forefront of innovation.

ISIN code: FR0014001PM5 - mnemonic: ALHRS.

For further information, visit our website www.hydrogen-refueling-solutions.fr

CONTACTS