HydrogenPro is already competitive in terms of efficiency amongst peers, but we are not settling. We will continue to invest in R&D, like we did with the acquisition of Advanced Surface Plating (ASP) in Denmark in 2021. This gave us technology ownership of advanced electrode technology, called the 3rd generation electrodes, which makes us able to increase the efficiency of each unit by 14%. Testing of electrodes is ongoing and has the potential of providing HydrogenPro with a competitive edge for years to come.

To have a global footprint is critical for HydrogenPro as a global presence positions the us closer to our customers and markets. This is important both with regards to sales and local expertise, while also enabling us to qualify for the many local incentive schemes that has emerged during the last two years. Local manufacturing also reduces transportation of raw materials and goods. It also diversifies our business, mitigating geopolitical risks.

We are already present in Norway, Denmark, Germany, China, and US, but aim to grow further through joint ventures, partners, and sales offices all over the world. We firmly believe that size and scale is a key for green hydrogen to reach its potential. Our standardized electrolyzers have a smart cost-efficient design and are prepared for upscaling and plant integration. Our modular design enables us to turn electrolysers on and off when needed, making it an ideal solution for using fluctuating renewable energy sources, such as wind and sun.

We do not rely on rare precious metals, reducing the risk of raw material shortages. HydrogenPro provides solutions and services that support the full life cycle of the equipment its customers purchase, from design and installation to operation and maintenance. This ensures recurring revenue on the installed base and reduces risk in the business model.