ABB and Hydrogen Optimized expand hydrogen partnership, including a strategic investment

· Collaboration positions companies for global leadership in large-scale green hydrogen production systems

· Combined technological offerings will include Hydrogen Optimized’s RuggedCell™ high-power water electrolyzers and ABB’s high-power rectifiers

· The two companies consolidated their alliance with a new commercial agreement signed at a hydrogen trade show in Stephenville, Newfoundland, attended by Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz

ABB and Hydrogen Optimized Inc. (HOI), the Canadian technology innovator unlocking green hydrogen production at scale, have signed an agreement to expand the companies’ existing strategic relationship. This includes an investment by ABB into Key DH Technologies Inc. (KEY), the parent company of HOI, as they seek to accelerate the fast-emerging green hydrogen production segment with unique large-scale architecture. The financial terms of the agreement were not disclosed.

The signing follows the two companies’ showcase of their green hydrogen technologies at the August 23, 2022 German-Canadian Atlantic Renewable Hydrogen Expo in Stephenville, Newfoundland, which was attended by Canadian Prime Minister Justin Trudeau and German Chancellor Olaf Scholz. Hydrogen produced with low-to-zero carbon dioxide emissions is widely recognized as essential to achieving net-zero emissions by 2050.