GENCELL AND AICOX SOLUCIONES ADVANCE THEIR PARTNERSHIP TO ADAPT GENCELL’S CLEAN RESILIENT BACKUP POWER SOLUTIONS TO SUIT THE NEEDS OF ITS TELECOM CUSTOMERS ACROSS THE IBERIAN AND LATIN AMERICAN MARKET

Aicox Soluciones Deploys GenCell BOX™ at HQ Facilities in Spain to Showcase and Demonstrate the Value of Hydrogen Fuel Cells to Key Prospects

Petah Tikva, Israel and Madrid, Spain – February 2nd, 2022 – GenCell Energy, (TASE: GNCL), a leading manufacturer of innovative hydrogen and ammonia to power solutions and Aicox Soluciones, a Spanish group of cutting-edge technology and communications companies providing engineering developments, systems operation, after-sales services and turnkey project developments to leading enterprises in Spain and Portugal with strong presence in Europe, Central America and Africa today announce the advancement of their partnership.  Aicox Soluciones has deployed a live demo site in Madrid to showcase GenCell’s cost-efficient, green, and resilient GenCell BOX™ backup power solution primarily to its MNOs and towerco customers with the aim to grow market share in the telecom market.GenCell has teamed up with Aicox Soluciones to provide telecom providers, telecom tower management companies and other relevant businesses in Europe and Central America with solutions incorporating its alkaline fuel cells and innovative hydrogen and ammonia-to-power technologies to generate reliable, emission-free power at costs lower than that of diesel. When relying on backup power to maintain a constant power supply, prevent power outages, and ensure the operability of cell towers, equipment, and networks, telecom providers can depend on fuel cell technology.

“We are confident that GenCell’s resilient, cost-efficient and emission-free backup power solutions will attract strong interest from our European and Latin American customers who are looking to diversify their power sources and reduce their electricity expenses while at the same time minimizing carbon emissions and ensuring a reliable flow of power to keep their equipment and systems continuously operational. Bringing together GenCell’s innovative renewable energy technology together with Aicox Soluciones’ deep experience and expertise in designing, engineering, and maintaining turnkey technology projects and wholehearted commitment to the success of our customers will create a powerful force on the European energy market,” commented Carlos Félix Laborda Bonilla, Business Development Director at Aicox Soluciones.

Added Mr. Laborda, “Operating three manufacturing facilities serving the Spanish, broader European and Latin American markets, we are focused at present on building up market demand with the understanding that in future we can leverage our production capacity to enable local manufacturing of GenCell’s equipment that will reduce costs and expand our market share in the region.”

Remarked Rami Reshef, CEO GenCell, “We are very pleased to work with Aicox Soluciones and to demonstrate our technologies to their wide customer base. We appreciate this opportunity to collaborate with the highly professional Aicox engineering team, to gain their insights into the specific challenges facing the European and Latin American telecom, utilities and oil & gas sectors, as well as to leverage their experience in project design, deployment and maintenance.”

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 About Aicox Soluciones

Part of the Aicox Group, Aicox Soluciones is a leading company with extensive experience in engineering solutions with a mission to optimally integrate the best technologies worldwide, generating operational and competitive advantages for clients. With offices in Madrid, Barcelona (Spain) and Lisbon (Portugal) we have the infrastructure and equipment to design, support, install and maintain the systems and solutions that we market. Aicox Soluciones is mainly oriented to the Cellular, Satellite, Radio and TV, Defence, and Industrial communications markets.