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  HYDROGEN REFUELING SOLUTIONS (HRS) company press release from 19/12/2022

  19/12/2022 - 18:25

HRS, RECOGNIZED FOR ITS RESEARCH AND DEVELOPMENT AMBITIONS, SECURES EUR 3.1M IN GRANTS


HRS, RECOGNIZED FOR ITS R&D AMBITIONS,
SECURES €3.1M IN GRANTS

Grenoble, December 19, 2022 - HRS, a European designer and manufacturer of hydrogen refueling stations, has been awarded grants totaling €3.1 million (non-refundable) for two European research and development projects and from the Auvergne-Rhône-Alpes Region for its new production and R&D facility in Champagnier, near Grenoble.

The two European projects, RHeaDHy and H2REF-DEMO, co-financed by the European Union's Horizon Europe Program under the "Clean Hydrogen Partnership" initiative, for which HRS has received R&D grants totaling €2.3 million out of a total amount of around €10 million, are aimed at developing a compression system capable of delivering several hundred kilograms of hydrogen per hour in order to meet the needs of heavy-duty hydrogen mobility. HRS was the first and second highest beneficiary respectively in terms of the amounts of the grants awarded for these two projects.

  • RHeaDHy will focus on the heavy-duty vehicle refilling process by designing key components guaranteeing ultra-fast hydrogen filling speeds that can reduce current refueling times by a factor of five. Supported by a European consortium, RHeaDHy represents a major step forward in unlocking the H2 truck market as it will pave the way for the creation of an extensive, high-powered network of refueling stations in line with the European aim of promoting carbon-free refueling infrastructures.
  • H2REF-DEMO aims to support the deployment of ultra-large-capacity hydrogen refueling stations capable of refueling bus, truck and train fleets at speeds of several hundred kg/h. Besides increasing station capacity, H2REF-DEMO will focus on optimizing processes, reducing costs, and increasing sustainability. The knowledge gleaned will allow the Group to step up its commercial deployment in Europe.

HRS has also received a grant of nearly €0.9 million from the Auvergne-Rhône-Alpes Region for its new production and R&D facility in Champagnier, representing 20% of eligible expenses. These funds provided under the “Regional Creation Solution - Establishment in Auvergne-Rhône-Alpes” scheme are earmarked for the purchase of various industrial production equipment. The production center will be delivered early 2023 and the offices towards the end of H1 2023. This 14,300 m² facility located on a 2.6-hectare site, the only one of its kind in Europe, will meet the strong increase in demand by boosting production capacity to 180 stations per year. The site houses a cutting-edge test area, a hydrogen refueling station for all types of vehicles, and a green hydrogen production facility.

Hassen Rachedi founder and CEO of HRS said: “The inclusion of HRS in major European consortia further accentuates our importance in the hydrogen sector and is another sign of recognition for our unrivaled expertise in hydrogen mobility innovation and large-capacity hydrogen station design. Meanwhile, the funds allocated by the Auvergne-Rhône-Alpes region will allow us to support our industrial footprint and procure extensive production capacity in order to supply a future European network of large-capacity hydrogen refueling stations.”

Laurent Wauquiez, President of the Auvergne-Rhône-Alpes Region "The Region supports companies that set up in Auvergne-Rhône-Alpes and innovate. Hydrogen is a solution for the future that will help decarbonize mobility and its intensive uses. We need to deploy larger-scale infrastructures and a territorial network. We are proud of companies like HRS that are inventing solutions for a positive ecology and creating jobs in our Region."

RHeadHY project (Grant agreement N° 101101443) and H2REF-DEMO project (Grant agreement N° 101101517) are co-funded by the European Union's Horizon Europe programme under the Clean Hydrogen Partnership

ABOUT HRS

Founded in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is pioneer in hydrogen mobility. European designer and manufacturer of hydrogen refueling stations, for over ten years, the Company has been committed to reducing transport emissions.

Thanks to its unique experience and know-how, HRS has developed a complete range of hydrogen refueling stations for all types of fuel cell vehicles that is perfectly suited to the needs of a fast-growing European market. At its Champ-sur-Drac site, HRS has mass production capacities that enable it to assemble up to 60 units per year in record time, in as little as 8 weeks.

The Company posted 2021/2022 revenue of €17.0 million. As of June 30, 2022, the company had 78 employees. (ISIN code: FR0014001PM5 - ticker symbol: ALHRS).

CONTACTS

Investor Relations
ACTUS finance & communication
Grégoire SAINT-MARC
hrs@actus.fr
Tel. +33 1 53 67 36 94
Financial Press Relations
ACTUS finance & communication
Anne Catherine BONJOUR
hrs-presse@actus.fr
Tel. +33 1 53 67 36 93
Corporate Press Relations
ACTUS finance & communication
Déborah Schwartz
hrs-presse@actus.fr
Tel. +33 1 53 67 36 35

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  Original Source: HYDROGEN REFUELING SOLUTIONS (HRS)