Aker Clean Hydrogen: Second-Quarter Results 2021

Aker Clean Hydrogen: Second-Quarter Results 2021

PR Newswire

OSLO, Norway, July 12, 2021

OSLO, Norway, July 12, 2021 /PRNewswire/ -- Aker Clean Hydrogen today published results for the second quarter and first half of 2021, showing the company has taken decisive steps towards realizing its ambition to accelerate clean energy by producing clean hydrogen safely and affordably.

"In just a few months, we have established projects and prospects with net capacity of more than 1.7 GW in Norway, Chile and Uruguay, so we are heading steadily towards our 2030 target of reaching 5 GW net installed capacity," said Knut Nyborg, Chief Executive Officer of Aker Clean Hydrogen.

Highlights in the second quarter included:

Financial result and outlook

Revenue for the first half of 2021 was NOK 1 million and operating loss was NOK 60 million, reflecting costs related to the start-up of the company, building the organization and developing the global projects and prospects. In addition, the company had costs related to the operational development including standardization, digitalization, project execution model and supply chain. The cash balance at the end of the period was NOK 2 828 million.

Hydrogen has the potential to replace fossil-based solutions across several industries, from transport to agriculture. Market fundamentals, reflected in recent record high prices for ETS quota prices, remain supportive of further growth. The ETS price has risen 170 percent to more than 58 euros per tonne in the past 12 months.

"We are maturing dialogues with large offtakers, infrastructure companies and renewable energy providers and expect to grow our pipeline as well as existing prospects and projects over the coming quarters," said Nyborg.

The company today also published its first-half report, which is attached and available on akercleanhydrogen.com.

Aker Clean Hydrogen will present the results in a live webcast, followed by a Q&A session, today at CET 0930 via:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210712_4

Media contact:

Ivar Simensen, +47 464 02 317, email: ivar.simensen@akerhorizons.com  

Investor contact:

Christian Yggeseth, mob: +47 915 10 000, email: christian.yggeseth@akerhorizons.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/aker-clean-hydrogen/r/aker-clean-hydrogen--second-quarter-results-2021,c3383421

The following files are available for download:

https://mb.cision.com/Public/20795/3383421/ab76e53128c6a419.pdf

ACH Q2 2021

https://mb.cision.com/Public/20795/3383421/a41357afbc32b4f5.pdf

Aker-Clean-Hydrogen-1H2021-report

 

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