Aker Clean Hydrogen: Second-Quarter Results 2021

Highlights in the second quarter included: Highlights in the second quarter included: Financial result and outlook Revenue for the first half of 2021 wasNOK 1 millionand operating loss wasNOK 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...

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: [email protected]  

Investor contact:

Christian Yggeseth, mob: +47 915 10 000, email: [email protected]

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

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