HydrogenPro AS – Repayment of convertible loan

Oslo, 22nd December 2020 - Reference is made to the admission document published by HydrogenPro AS ("HydrogenPro" or the "Company", ticker code "HYPRO-ME") on 13 October 2020, where HydrogenPro disclosed that the Company had entered into several convertible loan agreements, inter alia with TM Holding AS. 
TM Holding AS has now accepted an offer from the Company to settle the outstanding amount of the convertible loan, equalling to NOK 119,494, in cash instead of conversion. The settlement of the loan to TM Holding AS has been completed and TM Holding AS will thus not be issued any share and does no longer have any rights to have shares issued in the Company under the convertible loan. 
Following this final repayment, the Company has no convertible loans outstanding.

For more information, please contact: 
Walter Qvam, Chairman 
+47 905 25 226 
Walter.qvam@miway.no 

Mårten Lunde, CEO 
+47 48 14 84 51 
marten@hydrogen-pro.com 

HydrogenPro in brief: 
HydrogenPro was founded in 2013 and the Company’s principal business is to provide customised turn-key plants for large-scale production of green hydrogen to global industrial clients. The Company’s activities include design, engineering and optimization of such plants, purchasing of parts, components and sub-systems for integration into complete plants and systems for hydrogen production. The activities also include commissioning and testing of such plants before they are accepted by clients of the Company. As part of its business model, the Company will also seek to secure service and maintenance agreements related to such hydrogen production plants. 

The Company aims to be a world leading designer and supplier of alkaline electrolyser technology plants and solutions that meet the highest requirements for safety, reliability and long lifetime at competitive cost. 

By combining in-depth knowledge from the electrolyser industry with innovative design and technologies, HydrogenPro continuously aspire to pioneer game-changing ideas and solutions to realise and maximise new opportunities in a smarter, sustainable and hydrogen powered future. The Company has been chosen supplier for several important contracts within the large-scale segment of the electrolyser market during the last couple of years and is now preparing itself for execution of these projects. HydrogenPro will shortly embark on a program to strengthen its organisation and recruit new talent interested in building a company which offer truly sustainable energy solutions for the future.