GENCELL ENERGY SELECTED FOR THE AWS CLEAN ENERGY ACCELERATOR 3.0

The non-equity dilutive program is designed to help mature startups accelerate decarbonization at scale

Petah Tikva, Israel – March 8, 2023 – GenCell Energy, (TASE: GNCL), the leading provider of hydrogen and ammonia to power solutions, announced today that it has been selected as one of the 15 startups that will participate in the Amazon Web Services (AWS) Clean Energy Accelerator 3.0, a high-pace, non-equity dilutive accelerator designed to facilitate collaborations with mature startups developing breakthrough clean energy technologies. The program is focused on fostering innovation and rapid growth of clean energy technology, which is needed to address the global climate crisis.

“The ground-breaking innovations, products and solutions displayed in the previous Clean Energy Accelerator programs have offered an inspiring glimpse into the energy systems of the future, and chart a path towards accelerating decarbonization at scale,” said Howard Gefen, General Manager of Energy and Utilities, AWS. “We’re pleased to welcome GenCell Energy into the Clean Energy Accelerator 3.0, and work together to take on one of the greatest challenges of our generation.”

“We are excited to join the AWS Clean Energy Accelerator and work towards overcoming clean energy and decarbonization challenges,” said Rami Reshef, co-founder and CEO, GenCell Energy. “Through this program we can help define and shape the future of clean energy innovation.”

Primary focus areas of the AWS Clean Energy Accelerator 3.0 include: advanced materials; carbon capture, utility and storage; economic hydrogen generation, transport, and use; energy storage; grid modernization; energy security and reliance.

The program is designed to spur co-innovation through energy collaborations, and is centered on the needs of mature startups from across the globe. Through the program, industry and thought leaders will mentor startups on topics like energy, digital competency, investment, public policy, innovation, and advanced research. Leading energy organizations will work with selected startups on addressing clean energy and decarbonization challenges, while AWS provides guidance in accelerating experimentation, expanding automation, and delivering deep insights by leveraging the cloud.

The AWS Clean Energy Accelerator 3.0 will include 12 weeks of virtual and in-person programming, kicking off in Seattle in April. The program will have an expanded reach and scope, which includes international exchange sprints to foster tech innovation hubs around the world, including one in the UAE, in collaboration with Masdar City. The Clean Energy Accelerator 3.0 will culminate with the Innovation Showcase that will be held at the 2023 United Nations Climate Change Conference (COP 28) next November in Dubai. The event will include CEA startups showcasing their clean energy technology innovations, and highlights on the latest CEA-driven clean energy technology pilot programs.

Learn more about the AWS Clean Energy Accelerator at: www.aws.amazon.com/energy/clean-energy-accelerator.