Notice of Extraordinary General Meeting
Porsgrunn, Norway, 26 August 2022 - HydrogenPro AS (OSE-ticker: HYPRO) hereby summons for an extraordinary general meeting (the "EGM") to be held in order to convert the company from a private limited liability company (AS) to a public limited liability company (ASA) in connection with the contemplated up-listing to Oslo Stock Exchange's main list from Euronext Growth Oslo. Other items required or deemed necessary to be resolved in connection with the contemplated up-listing is also included in the proposed agenda.
The EGM will be held at Henrik Ibsens gate 100, 0255 Oslo, Norway at 10:00 CEST on 5 September 2022, however with the possibility to attend online. Participants attending online will not be able to cast votes digitally, and the Company requests that voting proxies (appended hereto) are submitted in advance of the EGM. The EGM notice, including the Board of Director's proposed resolutions for the items listed on the agenda and appendices, is enclosed to this stock exchange notice.
For more information, please contact:
Richard Espeseth, interim CEO, +47 958 43 007
Martin T. Holtet, CFO, +47 92 24 49 02, [email protected]
About HydrogenPro:
HydrogenPro designs and supplies customized hydrogen plants in cooperation with global partners and suppliers, all ISO 9001, ISO 45001 and ISO 14001 certified.
The Company was founded in 2013 by individuals with background from the electrolysis industry which was established in Telemark, Norway by Norsk Hydro in 1927. We are an experienced engineering team of leading industry experts, drawing upon unparalleled experience and expertise in the hydrogen and renewable energy industry.
Our core product is the alkaline high-pressure electrolyser. With the new electrode technology, we are able to increase the efficiency of each unit by 14% to reach 93% of the theoretical maximum. This is a significant step forward as the cost of electric power, depending on market prices, amounts to 70-90% of the cost of producing hydrogen, the value of such increased efficiency equals approximately the investment cost for the entire plant in a Total Cost of Operation perspective. The Company is targeting a production cost for green hydrogen of USD 1.2 per kg in 2022.