Brief: HRS Signs Agreement With Hype For Supply Of 8 Hydrogen Stations

Hydrogen-Refueling-Solutions SA

14/12/2021 17:13

Dec 14 (Reuters) - Hydrogen-Refueling-Solutions SA
 ALHRS.PA :
    * SIGNS NEW STRATEGIC PARTNERSHIP WITH HYPE, FIRST HYDROGEN
TAXI
NETWORK - DEPLOYMENT OF 8 HRS STATIONS 6 OF WHICH HAVE A
CAPACITY OF 1,000 KG/DAY FOR HYPE'S HYDROGEN INFRASTRUCTURE
    * THIS CONTRACT REPRESENTS POTENTIAL REVENUE OF
APPROXIMATELY
EUR24 MILLION
    * ANNOUNCES SIGNATURE OF A PARTNERSHIP AGREEMENT WITH HYPE
FOR
SUPPLY OF 8 HRS HYDROGEN STATIONS BETWEEN 2022 AND 2023
    * STATIONS WILL BE INSTALLED MAINLY IN ÎLE-DE-FRANCE REGION
TO
SUPPORT ACHIEVEMENT OF HYPE'S GOAL FOR 2024 OLYMPICS
    * WILL ALSO SUBSCRIBE TO CONVERTIBLE BONDS ISSUED BY HYPE,
IN
AMOUNT OF EUR6 MILLION, WITH A CAPITALIZED INTEREST RATE OF 4.5%
AND A MATURITY OF 9 YEARS
    * HR HOLDING WILL ALSO SUBSCRIBE TO THIS BOND ISSUE IN
AMOUNT OF
EUR2 MILLION
    * THESE BONDS MAY BE CONVERTED INTO HYPE SHARES BEFORE THEIR
MATURITY DATE UNDER CERTAIN CONDITIONS AND IN LIMITED CASES FOR
A PERIOD OF TWO YEARS, INCLUDING A CHANGE OF CONTROL, AN INITIAL
PUBLIC OFFERING OR AN ISSUE OF SECURITIES IN EXCESS OF EUR10
MILLION
    * UNDER THIS CONTRACT, BY JUNE 30, 2023, HYPE WILL ORDER 6
STATIONS WITH A CAPACITY OF 1,000 KG/DAY AND 2 STATIONS WITH A
CAPACITY OF 200 KG/DAY
    * THIS NEW PARTNERSHIP ALIGNS PERFECTLY WITH AMBITIOUS
DEVELOPMENT
PLAN OF HRS WHICH AIMS TO DEPLOY 100 STATIONS OVER PERIOD
2021-2025
    * THROUGH SIGNED CONTRACTS, GROUP ALREADY HAS POTENTIAL TO
DEPLOY
ALMOST HALF OF PLAN'S TARGET, JUST 10 MONTHS AFTER ITS IPO

Source text for Eikon:  ID:nACT72387 
Further company coverage:  ALHRS.PA 

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