Enapter AG / DE000A255G02

Enapter AG: Foundation of a joint venture with WOLONG Group

EQS-Ad-hoc: Enapter AG / Key word(s): Joint Venture/Miscellaneous


29-Jan-2024 / 12:22 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Enapter AG ("Enapter") has entered into an agreement to establish a joint venture company with Wolong Electric Group Co, Ltd, Shaoxing City, Zhejiang Province ("Wolong"). This significantly expands the cooperation agreed in the framework agreement dated 7 August 2023. Through this partnership, the joint venture will acquire stacks from the Enapter Group and then produce the Enapter AEM electrolyser products locally in China for the Chinese market. Enapter will hold a 49% stake in the joint venture company and grant it an exclusive licence for the sale and production of AEM electrolysers in China, for which Enapter will receive a licence fee of 3% of future sales. Enapter will also provide fee-based engineering services and technical support to the joint venture. The Wolong Group will hold a 51% stake and contribute around EUR 2.0 million in cash to the joint venture company, as well as providing sufficient financing, production resources and local personnel to set up production, sales and support. The joint venture company is intended to tap into the potential of the Chinese market for Enapter by utilising Wolong's resources and expertise to set up production and a sales and service network for the products developed by Enapter in China. To date, Enapter has no sales activities nor a production facility in China. With the conclusion of this contract, Enapter AG is realising part of its communicated strategy of establishing international partnerships as planned. Production of the stacks, which form the centrepiece of the AEM electrolysers, will continue to take place at the Enapter Group site in Pisa, Italy. About Enapter Enapter is an innovative energy technology company that manufactures highly efficient hydrogen generators - so-called electrolysers - to replace fossil fuels and thus drive the energy transition globally. The patented and proven anion exchange membrane (AEM) technology enables the mass production of cost-effective electrolysers for the production of green hydrogen on any scale. The modular systems are already being used worldwide in the energy, mobility, industry, heating and telecommunications sectors, among others. Enapter is headquartered in Germany and has a production site in Italy. Enapter AG is listed on the regulated market of the Frankfurt and Hamburg stock exchanges, WKN: A255G0, ISIN: DE000A255G02 Further information: Website: https://www.enapter.com
Twitter: https://twitter.com/Enapter
Linkedin: https://www.linkedin.com/company/enapter
Facebook: https://www.facebook.com/enapterenergystorage   Press contact: Ralf Droz / Doron Kaufmann
edicto GmbH
Phone: [phone]
E-mail: [e-mail]

End of Inside Information

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29-Jan-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Enapter AG
	Reinhardtstr. 35
	10117 Berlin
	Germany
E-mail:	[e-mail]
Internet:	www.enapterag.de
ISIN:	DE000A255G02
WKN:	A255G0
Listed:	Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1825193

End of Announcement	EQS News Service

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1825193  29-Jan-2024 CET/CEST