EXPANDING ITS MARKET PRESENCE IN EUROPE, GENCELL ENERGY SIGNS STRATEGIC COOPERATION AGREEMENT WITH AIR LIQUIDE

Air Liquide Deutschland and GenCell agree to formulate a gas supply plan for joint customers

Petah Tikva, Israel  – December 22, 2022  – GenCell Energy, (TASE: GNCL), the leading provider of hydrogen and ammonia to power fuel cell solutions, is honored to announce that Air Liquide Deutschland GmbH, a subsidiary of multinational industrial gases and services leader Air Liquide S.A., and the Company have signed a strategic cooperation agreement to provide a tailored gas supply plan to GenCell’s customers. This step is in consensus with GenCell announcements of collaboration with Deutsche Telekom and Vodafone, telecom providers in the region, to secure gas supply to telecom sites.

Within the framework of the agreement, Air Liquide Deutschland confirms its capability to work with GenCell’s clients to provide satisfactory road freight supply and transport of hydrogen gas to customers’ sites throughout Germany. The agreement will ensure that GenCell’s hydrogen-to-power fuel cell systems incorporate fuel replenishment as per clients’ demands; in parallel Air Liquide agrees to support GenCell customers in complying with relevant hydrogen-related regulatory requirements.

In alignment with GenCell’s efforts to go the “extra mile” for its customers, the agreement with Air Liquide allows GenCell to offer customers comprehensive “hydrogen-on-demand” services including continuous, timely and cost-effective fueling replenishment as well as provision and maintenance of cylinders and related gas transport and storage equipment.

A pioneer and hydrogen expert for more than 50 years, Air Liquide is committed to achieving carbon neutrality by 2050 through the application of hydrogen to decarbonize heavy industry and revolutionize clean mobility. Targeting €8 bn in the entire low-carbon hydrogen value chain by 2035 and 3 GW of electrolysis capacity invested by 2030, Air Liquide is working to scale up the production of renewable and low-carbon hydrogen to meet its own corporate decarbonization goals and those of its customers.

To this end, Air Liquide will produce renewable and low-carbon hydrogen by electrolysis from renewable energies (wind, solar, hydro) or low-carbon sources and by methane or biomethane reforming with CO2 capture and storage. At its Oberhausen site, Air Liquide is currently building “Trailblazer”, a 20 MW electrolyzer, for the production of renewable hydrogen and oxygen. Looking ahead, GenCell customers committed to an accelerated transition to clean energy will be able to purchase renewable and low-carbon hydrogen from Air Liquide.

“Air Liquide Deutschland is pleased to collaborate with GenCell and to provide high-quality, reliable gas supply services to GenCell’s customers in Germany. Sharing a vision for a clean energy future in which hydrogen will play a key role, Air Liquide Deutschland is enthusiastic about the potential for hydrogen fuel cells to provide resilient backup and off-grid power for mission-critical applications and expect this agreement to bring our two companies valuable new business,” says Konrad Mohr, Commercial Director Industrial Mechant, Air Liquide Deutschland.

“As witnessed by the enormous attention devoted at the recent #COP27 Climate Conference to the expansion of the hydrogen economy that was demonstrated by global and regional policymakers, industry leaders and technology providers, all of whom reinforce the concerns of the environmental activists devoted to achieving sustainable development goals – SDG 7 focused on affordable, clean energy and SDG 13 on climate action – hydrogen is a key and growing driver for decarbonization and the market is seeking experts to help companies transition to hydrogen power,” explains Rami Reshef, CEO GenCell.

“GenCell is confident that this strategic cooperation with Air Liquide Deutschland will grow the value of GenCell’s hydrogen-to-power solutions for our customers by securing comprehensive, professional hydrogen fueling services. Sharing a vision for an accelerated transition to a clean energy future addressing the world’s crucial climate concerns, GenCell is looking forward to working with Air Liquide to deliver superior hydrogen-on-demand services to meet our European customers’ resilient and reliable fueling requirements in sync with complying with their and our sustainable energy objectives. We trust that this agreement will both reinforce our position in the region while significantly augmenting the value proposition we offer our customers.”

About Air Liquide

A world leader in gases, technologies and services for Industry and Health, Air Liquide is present in 75 countries with approximately 66,400 employees and serves more than 3.8 million customers and patients. The trust of its customers and partners makes Air Liquide a market leader in Germany. With a view to economic performance, investments and innovative strength, employing 4,200 personnel in Germany across 75 locations in Germany supporting 6,500 production and tank systems at customers, Air Liquide Deutschland GmbH serves 100,000 customers from industry, medium-sized companies and trade and is No. 1 in gases and services for industry, electronics and healthcare. For more information, visit https://de.airliquide.com/ueber-uns.