ElringKlinger AG / DE0007856023

EKPO receives funding of EUR 177 million for the ongoing refinement of high-performance fuel cell stacks

ElringKlinger AG / Key word(s): Miscellaneous


15.11.2023 / 21:18 CET/CEST
The issuer is solely responsible for the content of this announcement.

---

Funding of up to EUR 177 million for EKPO granted by the federal and state governments as part of the European “IPCEI Hydrogen” program until 2027 Funding to be used to expand the EKPO product portfolio within the high-performance segment by developing and industrializing a new generation of PEM fuel cell stack modules for heavy-duty applications Dr. Gernot Stellberger, Managing Director at EKPO Fuel Cell Technologies: "The funding provided will enable us to expand our product portfolio in the high-performance segment and evolve our business model." Dettingen/Erms (Germany), November 15, 2023 +++ Fuel cells represent a key technology when it comes to successfully shaping the transformation of the mobility sector. EKPO Fuel Cell Technologies (EKPO), a leading technology provider specializing in the development and large-scale production of fuel cell stacks for carbon-neutral mobility, has now received confirmation of the Federal Ministry for Digital and Transport that it is to be granted funding of up to EUR 177 million for the years up to and including 2027 as part of the European “IPCEI Hydrogen” (Important Project of Common European Interest) program. Funding will be provided by the Federal Ministry for Digital and Transport and the Ministry of the Environment of the state of Baden-Württemberg. The EKPO project, aimed at developing and industrializing a new generation of high-performance PEM fuel cell stack modules for heavy-duty applications, had previously been selected by the German government. The high-performance stack modules are to be deployed primarily in the commercial vehicle sector, but also in buses and maritime applications, in the field of rail transportation, and in stationary systems. Alongside development, funding also covers preparations at a commercial level through to series production of the innovative fuel cell stacks. Asked to comment, Dr. Gernot Stellberger, Managing Director at EKPO Fuel Cell Technologies, said: "The funding granted is to be seen as an important pillar for EKPO's future development and will unlock new opportunities for us to significantly expand our product portfolio, particularly in the heavy-duty/high-performance segment, and to evolve our business model. This is underpinned by our already market-leading stack technology and our high level of expertise in the field of industrial-scale production." Implementing the IPCEI forms part of the federal government’s National Hydrogen Strategy, which is geared toward making hydrogen technology established in Germany within competitive structures. To this end, the federal government had selected 62 large-scale projects to be jointly funded by the Federal Ministry for Economic Affairs and Climate Action, the Federal Ministry for Digital and Transport, and the respective federal states with a total budget of more than EUR 8 billion. The selected projects cover large parts of the value chain within the hydrogen market. EKPO is one of four German companies to have been granted approval in the so-called first wave of "IPCEI Hydrogen". The stack modules represent a new benchmark with regard to performance and power density and are targeted at the life cycle of heavy commercial vehicles. In order to commercialize the new stack modules, both processes and design have to be optimized in terms of costs and manufacturability. In addition, the plan is to significantly reduce the carbon footprint in production. Thus, the aim of the project includes successfully migrating fuel cell stacks to mass production with a stacking rate in the parts-per-second range, while meeting the highest quality standards. IPCEI programs encompass strategic funding projects at a pan-European level that are aimed at establishing a European value chain in key economic sectors of relevance to the future. The hydrogen industry has been identified as one such key sector, of which hydrogen mobility forms a constituent part.   For further information, please contact on behalf of EKPO Fuel Cell Technologies: ElringKlinger AG
Dr. Jens Winter
Vice President Strategic Communications
Phone: [phone]
E-Mail: [e-mail]   About EKPO Fuel Cell Technologies EKPO Fuel Cell Technologies (EKPO), headquartered in Dettingen/Erms (Germany), is a leading joint venture in the development and large-scale production of fuel cell stacks for CO2-neutral mobility. The company is a full-service supplier for fuel cell stacks and components used in passenger cars, light commercial vehicles, trucks, buses, as well as in train and marine applications. Within this context, the company is building on the industrialization expertise of two established international automotive suppliers – ElringKlinger and Plastic Omnium. The aim of the joint venture is to develop and mass-produce high-performance fuel cell stacks in order to further advance CO2-neutral mobility - whether on the road, rail, water or off-road.

---

15.11.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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

---

Language:	English
Company:	ElringKlinger AG
	Max-Eyth-Straße 2
	72581 Dettingen/Erms
	Germany
Phone:	071 23 / 724-0
Fax:	071 23 / 724-9006
E-mail:	[e-mail]
Internet:	www.elringklinger.de
ISIN:	DE0007856023
WKN:	785602
Listed:	Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange
EQS News ID:	1774607

End of News	EQS News Service

---

1774607  15.11.2023 CET/CEST