Option excercised to increase ownership in Everfuel Retail Norway

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Herning, Denmark, 23 March 2021 – Everfuel A/S is pleased to announce that the company has exercised an option to acquire 4.9% of the shares in Everfuel Retail Norway AS from NEL ASA. Everfuel will after the transaction hold approximately 56% of Everfuel Retail Norway.  

The initial acquisition of a 51% stake and creation of Everfuel Retail Norway, including an agreement for Everfuel to increase its investments in the company and buy-out Nel at predefined price over time, was announced on 25 November 2020. Everfuel will pay a cash consideration for the additional shares in line with the agreement to increase its ownership over time. The transaction is expected to be completed by end of March.

For additional information, please contact

Anders Bertelsen, CFO, +45 21 35 43 03

About Everfuel | www.everfuel.com

Everfuel is making green hydrogen for zero emission mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply- and fueling solutions. We own and operate green hydrogen infrastructure and partner with vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. Green hydrogen is a 100% clean fuel made from renewable energy and key to electrification of the transportation sector in Europe and a sustainable future. We are a young ambitious company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across Europe. Everfuel is listed on Euronext Growth in Oslo under EFUEL.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Nicolaj Rasmussen, BD Director, Everfuel A/S on 23 March at 09:45 CET.