HYDROGEN REFUELING SOLUTIONS (HRS): HRS COLLABORATION WITH PLUG POWER STRENGTHENED THANKS TO ORDER FOR FIFTH HYDROGEN REFUELING STATION SINCE START OF 2023

Grenoble, April 20, 2023 - HRS, a leading European designer and manufacturer of hydrogen refueling stations, today announces a further milestone in its collaboration with Plug Power Inc. (NASDAQ: PLUG). HRS has received a firm order for a specific HRS14 hydrogen refueling station, bringing the number of stations ordered by Plug since the start of 2023 to five.

To support Plug's ambitious European development plan, including the opening of new material handling customer sites over the coming months, HRS signed an agreement in January 2023 to supply hydrogen fueling stations over the next 12-24 months. In this regard, HRS has developed a specific and competitive refueling station to supply hydrogen to fleets of forklifts fitted with Plug's fuel cell solution.

Plug placed an initial firm order for four specific stations (see press release dated February 1, 2023), two of which are set to be installed in the United Kingdom, one in the Netherlands and one in Spain.

Recently, HRS has received a firm order for a fifth specific hydrogen refueling station which will supply hydrogen to a site in France.

This fifth order reflects the companies' active collaboration towards promoting hydrogen mobility in Europe and paves the way for further commercial opportunities with Plug with a view to meeting its considerable hydrogen refueling station needs.

Hassen Rachedi, HRS Founding Chairman and CEO, said: "We are delighted to continue working with Plug Power to promote hydrogen mobility by installing our solutions in a number of European countries. We share a common vision for the future of sustainable mobility by committing to reducing companies' carbon footprints."

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

Relations investisseurs ACTUS finance & communication Grégoire SAINT-MARC [e-mail] 00 33 1 53 67 36 94

Financial press relations ACTUS finance & communication Anne Catherine BONJOUR [e-mail] 00 33 1 53 67 36 93

Corporate press relations ACTUS finance & communication Déborah Schwartz [e-mail] 00 33 1 53 67 36 35

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