Green Hydrogen Systems reported strong revenue growth in H1 2024, aims for larger hydrogen projects.

From GlobeNewswire: 2024-08-27 02:01:00

Green Hydrogen Systems reported revenue of DKK 32.6 million in H1 2024, up from DKK 14.0 million in H1 2023. The company delivered electrolyser units to customer sites in four countries and has a total order backlog of 15.0 MW. They are working on larger hydrogen projects and aiming for X-Series orders.

CEO Peter Friis expressed satisfaction with revenue growth and progress on the X-Series electrolyser. The company aims to secure its first X-Series order by the end of 2024. Guidance for 2024 includes revenue of DKK 125-165 million, EBITDA of -260 to -220 million, and CAPEX of DKK 160-200 million, acknowledging market uncertainties.

Green Hydrogen Systems, founded in 2007, is a key provider of modular electrolysers for green hydrogen production. They are focused on net-zero emissions by 2050 and work closely with leading energy companies. Forward-looking statements are provided, and risk factors can be found in the Annual Report 2023 on their website.

To learn more, investors can access a conference call on August 27, 2024, or visit the company’s website directly for additional information. Strategic collaborations have been established to support sales and delivery, and the company is optimistic about meeting its financial targets for 2024.



Read more at GlobeNewswire:: Green Hydrogen Systems – Interim Report for H1 2024