Brief: Green Hydrogen Systems Increases 2021 CAPEX Guidance, Buys Factory Land And Buildings

Green Hydrogen Systems A/S

22/07/2021 06:48

July 22 (Reuters) - Green Hydrogen Systems A/S  GREENH.CO :
    * LAUNCHES ITS NEXT PHASE OF PRODUCTION FACILITIESEXPANSION
TO 400
MW
    * ACQUIRES FACTORY LAND AND BUILDINGS.
    * CAPEX GUIDANCE FOR 2021 INCREASED.
    * APPROVED ITS PLANNED SECOND EXPANSION PHASE OF ITS CURRENT
COMBINED MANUFACTURING, RESEARCH AND DEVELOPMENT, AND OFFICE
FACILITIES IN KOLDING
    * NEW FACILITIES WILL INCREASE COMPANY'S CURRENT YEARLY
CAPACITY
FROM 75 MW TO 400 MW WORTH OF ELECTROLYSERS
    * IN SUBSEQUENT PHASES, FACILITIES CAN BE FURTHER SCALED TO
MANUFACTURE ELECTROLYSERS WITH 1,000 MW CAPACITY A YEAR
    * WILL ALSO TAKE OWNERSHIP OF NEW FACILITIES DURING PHASE 2
CONSTRUCTION.
    * OVER A THREE-YEAR PERIOD, GREEN HYDROGEN SYSTEMS WILL
INVEST DKK
250 - 300 MILLION IN ACQUIRING EXISTING FACILITIES AND LAND
    * AROUND DKK 105 MILLION WILL HAVE EFFECT IN 2021
    * FOLLOWING ACQUISITION OF CURRENT FACILITIES, COMPANY'S
15-YEAR
LEASE AGREEMENT WILL BE TERMINATED.
    * GUIDANCE FOR 2021:  MATERIAL CAPEX IS INCREASED FROM DKK
30 - 35
MILLION TO DKK 135 - 145 MILLION.
    * TOWARDS PHASE 2 COMPLETION, COMPANY WILL ASSESS OPTIONS
FOR SALE
AND LEASE BACK OF CURRENT AND NEW LAND AND FACILITIES

Source text for Eikon:  ID:nGNE1jyBxF 
Further company coverage:  GREENH.CO 

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