Regulatoriskt pressmeddelande

HydrogenPro ASA – Fourth quarter of 2025 financial results

27 February 2026 – HydrogenPro ASA (OSE: HYPRO): HydrogenPro reported its financial results for the fourth quarter of 2025 today.

Highlights:

Pipeline maturing with expected FIDs in 2026 to a potential contract value of NOK ~1bn
Commissioning of ACES 220 MW project nearing conclusion
Ramping up manufacturing of electrodes in Denmark
Streamlining operations with continued cost saving measures
HydrogenPro acquires full ownership of manufacturing site in Tianjin, China
New Chief Commercial Officer, started 1^st of December 2025

Q4 2025 financials (Q3 2025 numbers in brackets):

– Revenues: NOK 17 million (NOK 35 million)

– EBITDA: NOK -49 million (NOK -45 million)

– Net result: NOK -44 million (NOK -54 million)

– Order Backlog: NOK 275 million (NOK 252 million)

– Cash Balance at end of the quarter: NOK 102 million (NOK 121 million).

Jarle Dragvik, CEO of HydrogenPro, comments: “We are pleased to announce that commissioning at ACES in Utah, US, is nearing completion. HydrogenPro’s 40 electrolyzers are fully operational and produce hydrogen gas.

HydrogenPro is proud to highlight its contribution to strengthening the renewable power supply in California through these deliveries. This solution plays a vital role in enabling low-carbon power production and stands as a testament to our commitment to supporting decarbonization. The project represents technologically groundbreaking and highly complex work. Once fully up and running, this project will give us a competitive advantage, strengthening our track record and serving as a critical factor in winning new contracts.

There is broad market consensus on strong growth in clean hydrogen, which is estimated to reach 5.5-10 Mtpa by 2030. As market expectations improve, there is an increasing focus on proven project delivery capability in a market where supply of low-cost green hydrogen is constrained”.

The company will host a webcast presentation at 10:00 CET, followed by a Q&A session. The presentation will be given by Jarle Dragvik (CEO), Martin Thanem Holtet (CFO) and Michael Caspersen (CCO). Questions can be posted online during the presentation.

Link to webcast: https://qcnl.tv/p/X9RlXFUDlMsO9LZKFGMbkA

About HydrogenPro:
HydrogenPro, established in 2013, specialises in pioneering green hydrogen technology solutions through partnerships with global collaborators and suppliers. Our flagship products are high-pressure alkaline electrolysers, incorporating some of the most advanced technology available. As an OEM, we provide high-pressure alkaline electrolysers and supply large-scale green hydrogen plants, all certified to ISO 9001, ISO 45001, and ISO 14001 standards. Our experienced engineering team consists of leading industry experts, drawing upon unparalleled knowledge and expertise in the hydrogen and renewable energy sectors.
For more information, visit www.hydrogenpro.com