Gvs - Capital/Financing Update 2024

Informazione Regolamentata n. 2251-15-2024	Data/Ora Inizio Diffusione 4 Aprile 2024 13:00:44

Societa'	:	GVS
Identificativo Informazione Regolamentata	:	188539
Utenza - Referente	:	GVSN03 - Bala
Tipologia	:	REGEM
Data/Ora Ricezione	:	4 Aprile 2024 13:00:44
Data/Ora Inizio Diffusione	:	4 Aprile 2024 13:00:43
Oggetto	:	GVS - New Hydrogen Diaphragm
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PRESS RELEASE

GVS TO BUILD A NEW MANUFACTURING FACILITY FOR THE FABRICATION OF AN INNOVATIVE DIAPHRAGM FOR GREEN HYDROGEN PRODUCTION

GVS TO SUBMIT A FUNDING PROPOSAL TO THE EU INNOVATION FUND

Zola Predosa (BO), 4 April 2024

GVS S.p.A. (the "Company" or the "Group"), a leading provider of advanced filtration solutions for highly critical applications, announced today its intention to build a new manufacturing facility for the fabrication of an innovative diaphragm for alkaline water electrolysis systems for green hydrogen production (the "Project").

The new diaphragm has been internally developed by the GVS R&D department, leveraging the Group's consolidated expertise in the production of membranes and filtration materials, and will deliver high performance in terms of durability, electrochemical conductivity and gas separation.

The investment decision follows a period of pilot testing with selected customers, who validated the superior performance and reliability of the new diaphragm.

The new manufacturing facility will be installed in GVS headquarters in Zola Predosa (Bologna) and will have capacity to supply the equivalent of 4 GW/year electrolyser capacity for the production of green hydrogen (320.000 tons H2 /year produced).

The total Capex associated to the project is expected to be in the region of €4m and will be funded between FY 2024 and FY 2025 with the financial resources available.

The commercial launch of the diaphragm is expected in the second half of FY 2025, with a meaningful impact in terms of revenues generation starting FY 2026.

As the Project is fully in line with European Hydrogen Strategy (COM/2020/301), which targets to reach 40 GW electrolyser capacity by 2030, GVS will submit a funding proposal to the EU Innovation Fund, one of the world's largest funding programs for innovative low-carbon technologies.

Massimo Scagliarini, CEO of GVS, commented as follows:

"I'm glad that GVS technology will contribute to achieving decarbonization targets for future generations, and entering the high-growing and attractive green hydrogen market represents an important step for the development of our Company. This new product, entirely developed by GVS Research & Development, is a testament to our superior capabilities in developing highly innovative solutions for advanced filtration and will actively support the EU's ambitions to build a strong European hydrogen economy".

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Contacts

Investor Relations GVS S.p.A.

Guido Bacchelli, Investor Relations and M&A Director

[email protected]