Herning, Denmark, 27 October 2023 - Everfuel Hy24 A/S is pleased to announce
that the Joint Venture has been notified as marginal winner of the Danish Power
-to-X tender for green hydrogen production and supply. The JV Partners is given
ten working days to evaluate the residual support amount offered.

The tender's built-in subsidy is provided as support for operating expenses and
is recognised per kilogram of green hydrogen produced. The subsidy will run for
ten years and is dependent on the operational performance of the project. The
subsidy structure supplements the JV's strategy to develop hydrogen production
capacity.

"The tender is a significant steppingstone in our government's commitment to
Denmark's PtX strategy and is a recognition of the national hydrogen production
and export potential. I am pleased that Everfuel and Hy24 as partners have been
able to rapidly pursue this opportunity as we jointly deliver on our plan of
making green hydrogen commercially available with strategically located hydrogen
production facilities," says Jacob Krogsgaard, founder and CEO of Everfuel.

The JV will provide further information if it decides to accept the support
offer.

For more information regarding the tender announcement visit the Danish Energy
Agency: https://ens.dk/presse/danmarkshistoriens-foerste-ptx-udbud-afgjort-seks
-projekter-vil-tilsammen-bygge-over-280-mw

For additional information, please contact:

Jacob Krogsgaard | CEO | Everfuel | +45 2871 8945
Mads Tirsgaard Mortensen | Investor Relations Manager | Everfuel |
mm@everfuel.com | +45 77 30 47 27
Elizabeth Adams | Senior Managing Director | FTI Consulting |
hy24@fticonsulting.com

About Everfuel | www.everfuel.com

Everfuel is making green hydrogen for zero emission industry and mobility
commercially available across Europe, offering competitive all-inclusive
hydrogen supply and fuelling solutions. We own and operate green hydrogen
infrastructure and partner with industry and 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 energy
carrier made from renewable solar and wind power and key to decarbonising
industry and transportation in Europe. We are an ambitious, rapidly growing
company, headquartered in Herning, Denmark, and with activities in Norway,
Denmark, Sweden, The Netherlands and Germany, and a plan to grow across Europe.
Everfuel is listed on Euronext Growth in Oslo under EFUEL.

About Hy24 | www.hy24partners.com

The world's largest clean hydrogen infrastructure fund results from the
initiative of Air Liquide, TotalEnergies and VINCI Concessions, combined with
the one of Plug Power, Chart Industries and Baker Hughes, which were sharing a
common objective to accelerate the development of the hydrogen sector with the
launch of the "Clean H2 Infra Fund".

The Clean H2 Infra Fund is managed by Hy24, a 50/50 joint venture between
Ardian, a world leading private investment house, and FiveT Hydrogen, a clean
hydrogen investment platform which enabled the gathering of the two initiatives.
The fund has also attracted additional anchor industrial partners such as LOTTE
Chemical, Airbus, and Snam, Enagás, GRTgaz (together as one Anchor partner) and
anchor financial investors such as AXA, Crédit Agricole Assurances, CCR,
Allianz, CDPQ, JBIC as well as other investors: Border to Coast Pensions
Partnership, the CMA CGM Group, ERAFP, Nuveen, Ballard, Schaeffler, Société
Générale Assurances, Groupe ADP, EDF, Norinchukin, Caisse des dépôts, DBJ,
Itochu, Groupama and BBVA. The fund is now up and running with  Euro 2 billion
of
allocations. Hy24 is an alternative investment fund manager regulated by the
Autorité des marchés financiers.

With strong industrial and financial expertise at its core, Hy24 will have a
unique capacity to accelerate the scaling up of hydrogen solutions along the
whole value chain: production, conversion, storage and supply and usage. Hy24
will support large early stage and strategic projects into becoming essential
energy infrastructures.