De Nora supplies the Dragonfly® system for the European project 'Crete-Aegan Hydrogen Valley' CRAVE-H2, to create a hydrogen production hub on the island of Crete

Milan 16th april 2024 - Industrie De Nora S.p.A. ("De Nora"), an Italian multinational listed on Euronext Milan, specializing in electrochemistry, a leader in sustainable technologies and the emerging green hydrogen industry, is a partner of the Crete-Aegean Hydrogen Valley (CRAVE-H2) initiative aimed at creating a dedicated hydrogen production hub on the island of Crete. CRAVE-H2 aims to establish a production and distribution centre for green hydrogen, that will be partly stored and reused in the grid when needed by conversion to electricity via fuel cells and partly used as fuel for local public mobility. The project will be located at the port of Atherinolakkos.
De Nora will provide the latest generation Dragonfly® electrolyzer to produce more than 500 tons per year of hydrogen, a record production for the island that will facilitate its energy transition This project represents a first for De Nora in terms of capacity - 4MW - for the Dragonfly® containerized electrolyzer. Within the project, co-funded by the European Commission and the Clean Hydrogen Partnership, De Nora will cooperate with other partners involved, in the field of renewable energy sources, fuel cells development and Universities from Greece and Italy.
For the second time in a few months, De Nora is among the key players in a primary project aimed at decarbonization and energy transition, providing its next-generation Dragonfly® electrolyzer. In fact, in February 2024, De Nora announced its involvement in the European "HyTecHeat" project, together with, among others, Snam and Tenova (see press release), to decarbonize a traditionally hard-to-abate sector such as steel.
Dragonfly® stands out by its compact design and small footprint, which is easily adjustable to industrial settings where a small footprint and full integration with a containerized system is required for in-loco projects for green hydrogen production.
Paolo Dellachà, CEO of Industrie De Nora, commented: "We enthusiastically announce De Nora's involvement in the CRAVE-H2 project, the second initiative at European level in which we are involved in just a few months, following the partnership within HyTecHeat. The latest generation of containerized electrolyzer recently launched on the market represents a cutting-edge asset in the hydrogen value chain, contributing to the decarbonization process of several industrial sectors and playing a key role in mobility. De Nora is at the center of strategic projects on a national, European and global scale, and the Dragonfly® is confirmed as a leading product to accelerate the energy transition in specific markets."

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_{Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange, specializing in electrochemistry, a leader in sustainable technologies, and has a pivotal role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world's largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and non-ferrous metal refining). Industrie De Nora is also among the world's leading suppliers of water filtration and disinfection technologies (for the industrial and municipal sectors) and the world's leading supplier of swimming pool disinfection components. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition. In this sector, the company also holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.
Founded in 1923, Industrie De Nora generated around EUR 856 million in total revenues and an Adjusted EBITDA of approx. EUR 171 million in 2023. The Company's growth process has developed organically through continued penetration of new markets and applications and acquisitions in the U.S., Asia, and Europe. De Nora's continuous innovation drives its growth, represented by its evolving intellectual property portfolio, which currently includes more than 280 patent families with more than 2,800 territorial extensions. The De Nora family controls the Group, which owns 53.3% of the Company's share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.}

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