Everfuel and Crossbridge Energy agree on terms for HySynergy Phase II hydrogen supplies

Herning and Fredericia, 27 June 2022 - Everfuel A/S and Crossbridge Energy A/S have signed a long-term agreement stipulating the terms for hydrogen supply from the first stage of Everfuel’s HySynergy Phase II PtX facility which is under development in Fredericia, Denmark. The agreement is an important step in the realisation of the planned 300MW electrolyser plant.

The two project partners have agreed on the commercial terms for the initial stage of the electrolyser facility which will be developed in three stages (A, B and C) each with 100 MW electrolysis capacity.
Section A will have a production capacity of up to 40 tons of green hydrogen per day, which will be used for more sustainable fuel production at the adjacent Crossbridge Energy refinery, and as a zero-emission fuel for mobility and industry.

”The long-term agreement on commercial terms with Crossbridge Energy is an important enabler for the HySynergy Phase II development project. We share a strong partnership and are eager to continue our collaboration on building a large-scale PtX facility as a game changer for the energy transition in Denmark. Before that, we of course look forward to starting operations of the Phase I electrolyser facility later this year and deliver the first green hydrogen to our partners and our stations,” says Jacob Krogsgaard, the CEO of Everfuel.

“Hydrogen is the key to unlocking the full potential of green fuels. With Crossbridge Energy’s refinery and the Everfuel’s HySynergy project, we are taking a great leap forward towards more sustainable fuels. Initially, we will replace hydrogen based on fossil fuels with green hydrogen at our refinery, but we are also starting the next step of the Danish PtX journey,” says Finn Schousboe, the CEO of Crossbridge Energy.

The second phase of HySynergy, will when fully operational as planned in 2025, facilitate an annual reduction of up to 500,000 tonnes of carbon emissions from the mobility sector and industry. This corresponds to approximately 11 % of the annual Danish land-based transport sector’s carbon emissions.  Crossbridge Energy and Everfuel will further develop partnership agreements with external parties for the supply of excess oxygen and heat from the new facility to increase its overall efficiency.

The first phase of HySynergy, which consists of a 20 MW electrolyser, is currently under construction next to the Crossbridge Energy refinery and is expected to produce the first green hydrogen in late 2022. The second phase will be developed in connection with Phase I. The land plot is already outlined and prepared for construction subject to receiving IPCEI funding from the EU for the stage A electrolyser.

For additional information, please contact
Torben Øllegaard Sørensen, External Relations Advisor, Crossbridge Energy Fredericia, +45 4077 9257
Lea Vindvad Hansen, Investor Relations & Communications Manager, Everfuel, +45 6183 0205  
 

About Crossbridge | crossbridgepartners.com

Crossbridge is a leading energy platform with an environmental focus on developing and driving sustainable energy solutions. Crossbridge acquired the A/S Dansk Shell refinery (renamed to Crossbridge Energy A/S) in June 2022. Crossbridge Energy supplies approximately 35% of the total Danish liquid fuel consumption. Crossbridge is focused on transitioning traditional energy infrastructure and growing through acquisition in North America, Europe and other locations. The platform has $2.0 billion in annual turnover.

About Everfuel | www.everfuel.com

Everfuel is making green hydrogen for zero emission mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply- and fueling solutions. We own and operate green hydrogen infrastructure and partner with 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 fuel made from renewable energy and key to electrification of the transportation sector in Europe and a sustainable future. We are a young ambitious company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.

This information is considered inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.