Herning, 11 February 2021 - Everfuel A/S today published its fourth quarter and
preliminary full-year 2020 financial results.
Key events
· Successful completion of NOK 290/EUR 27 million private placement at NOK 22
per share and subsequent admission to trading on Oslo Børs' Euronext Growth on
29 October
· Acquisition of two hydrogen fueling stations and distribution assets in
Norway from Uno-X
· Purchase order for six hydrogen trailers designed exclusively to Everfuel
specifications
· Agreement with Nel for joint development of the Norwegian hydrogen retail
and truck fuel market and creation of Everfuel Norway retail AS
· EUR 20.7 million loan from EIB to scale and commercialize hydrogen fuel in
Denmark and Europe
· Acquisition of Danish Hydrogen Fuel A/S (DHF), adding four hydrogen fueling
stations in Denmark
· Award of contract for 20 MW alkaline electrolyser for green hydrogen
production in Fredericia
· Year-end cash position of EUR 23 million
· Completed NOK 600/EUR 58.5 million multiple times oversubscribed private
placement at NOK 125 per share in January 2021
Everfuel is experiencing strong momentum when executing its strategy of making
green hydrogen for zero emission mobility commercially available across Europe
by offering competitive all-inclusive hydrogen supply- and fueling solutions
supported by data driven optimization. This is reflected in several agreements
strengthening Everfuel's position as a leading hydrogen fuel company in Europe,
by connecting the entire hydrogen value chain from safe production and
distribution to efficient fueling solutions for large-scale operators of buses,
trucks and other vehicles.
Everfuel was admitted to trading on Euronext Growth in Oslo on 29 October 2020
following an oversubscribed private placement of new shares raising
approximately NOK 290 / EUR 27 million of gross proceeds at a subscription price
of NOK 22 per share. The proceeds represent partial funding of the company's EUR
300 million of planned equity investments as part of a EUR 1.5 billion capex
plan before 2030.
Following admission to Euronext Growth, Everfuel has signed several agreements
developing the company's value chain from production to distribution and fueling
stations, which will ensure safe, stable and cost-efficient supply of green
hydrogen to end-users. These include strategic partnerships and acquisitions of
fueling stations in Denmark and Norway. After these acquisitions, Everfuel will
operate eight hydrogen stations, have secured additional five locations, and
secured funding for further nine station sites in Scandinavia with location
pending. Adding activities outside of Scandinavia, Everfuel is set to become
Europe's second largest operator of light-duty hydrogen fueling stations with
over 20 units in operation from 2022.
"We had a busy 2020 leading up to the successful capital raise and admission to
Euronext Growth in late October. This was followed by execution of several
agreements to strengthen our position as a leading European hydrogen fuel
company. We established market leadership in Scandinavia through strategic
acquisitions to develop our fueling stations network and signed agreements for
hydrogen supply and distribution units. The investments and agreements we have
executed will start coming together later this year and create the first
commercial green hydrogen value chain connecting safe production and
distribution to efficient fueling solutions for large-scale operators of buses,
trucks and other vehicles. This is in line with our long-term plan for growth
and value creation," said Jacob Krogsgaard, the founder and CEO of Everfuel.
Everfuel had total revenue, representing sale of hydrogen and other operating
revenue, of EUR 0.3 million in Q4-2020. Total revenue for the full year was EUR
1.05 million. EBITDA was negative EUR 0.8 million for the quarter and negative
EUR 1.1 million for the full year. The financial results reflect that the
company is still in the initial stages of commercializing the green hydrogen
value chain in its target markets.
Total assets on 31 December 2020 amounted to EUR 27.1 million of which cash
holdings were EUR 23.4 million. Total equity amounted to EUR 25.8 million.
Changes from year-2019 predominantly reflected net proceeds of EUR 25.3 million
from the private placement in October 2020 and investments made through the
year. In January 2021, Everfuel successfully completed a private placement
raising additional NOK 600 / EUR 58.5 million to finance its long-term growth
plan.
Webcast:
CEO Jacob Krogsgaard and CFO Anders Bertelsen will present the company's results
at 11:00 CET and invites investors, analysts and media to join the presentation
hosted by SpareBank 1 Markets AS. The presentation is expected to last up to one
hour, including Q&A, and can be followed via live webcast.
Please register to join the results webcast via the following link:
https://attendee.gotowebinar.com/register/192940514187246861Questions can be submitted through the online webcast during the presentation. A
recorded version of the presentation will be made available at
www.everfuel.comafter the presentation has concluded.
For additional information, please contact:
Jacob Krogsgaard, CEO, +45 28 71 89 45
Anders Bertelsen, CFO, +45 21 35 43 03
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