HYDROGENE DE FRANCE : HDF energy inks MoU with PESTECH to collaborate on green hydrogen production from hydro plants in Cambodia and Malaysia

Bordeaux, Kuala Lumpour, 24 May 2022 – Hydrogène de France (“HDF Energy” or the “Company”) – Euronext Paris: HDF – has signed a memorandum of understanding (“MOU”) with PESTECH International Berhad ("PESTECH") to collaborate on green hydrogen production from hydro power plants in Cambodia and Malaysia in order to address multi sectors decarbonation such as, grid services and industrial application projects (“Projects”).

Under this MOU, PESTECH, a Malaysian integrated electrical power technology company, will initiate its commitment towards contributing sustainable development through participation in green renewable initiatives. Hydrogen is one of the leading options for storing renewable energy in power generation and can become an alternative fuel or sustainable transportation by providing clean, reliable, safe, convenient and affordable energy.

HDF Energy is accelerating its development in Asia, this MOU recognizes its know-how in hydrogen production while its HyPower projets® could utilize the hydrogen in some markets.

“The collaboration with HDF Energy on green hydrogen production is expected to complement and align with the global transition for sustainable energy and net zero emissions in the power supply industry”, said Mr. Paul Lim Pay Chuan, Managing Director and Group Chief Executive Officer of PESTECH.

“HDF Energy is glad to collaborate with PESTECH on hydrogen production while accelerating its development in Asia to accompany sustainable development', said Mr. Damien HAVARD, CEO at HDF Energy.

In addition, aNew Energy Pte. Ltd. (“aNew”), a Singapore based green energy specialist firm, who acts as an advisor to PESTECH, played a pivotal role in bringing the parties together and working towards collaboration on the Projects. aNew sees the benefits of such collaboration on Hydrogen projects starting with Malaysia and Cambodia as a key step to achieving decarbonisation, promoting green employment and investment for South East Asia.

Read financial information on Hydrogène de France
at www.hdf-energy.com

ABOUT HYDROGÈNE DE FRANCE (HDF ENERGY)

HDF Energy is a global pioneer in hydrogen energy. HDF Energy develops high-capacity Hydrogen-Power plants and is active, through dedicated project companies, in their operation. These plants will provide continuous or on-demand electricity from renewable energy sources (wind or solar), combined with high power fuel cells supplied by HDF Energy.

HDF Energy develops two types of Hydrogen-Power plants:

• Renewstable^® (POWER TO POWER): Multi-megawatt power plants, producing stable electricity 24h/day, composed of an intermittent renewable source and on-site hydrogen energy storage.
• HyPower^® (GAS TO POWER): Multi-megawatt power plants producing electricity on demand from green hydrogen from gas transportation networks.

HDF Energy has integrated key fuel-cell know-how under a memorandum of understanding with Ballard (seven-year exclusive licence agreement) and has developed the world's first mass production plant for high-power fuel cells for energy, which will be commissioned in France (Bordeaux Metropole) in 2023. Through this activity, HDF Energy will also serve the mobility, maritime and rail markets, and data centers..

HDF Energy has positioned itself as a powerful accelerator of the energy transition by offering non-intermittent, grid-friendly and on-demand renewable power.

HDF shares have been listed on the regulated market of Euronext Paris compartment B since 24 June 2021.

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Source Actusnews