Herning, Denmark, and Paris, France, 29 September 2023 - With reference to the
announcement on 28 February 2023 regarding the creation of EUR 200 million joint
venture (JV) between Everfuel A/S, a leading European green hydrogen energy
company, and Hy24, managing the world's largest clean hydrogen infrastructure
fund.

Everfuel is pleased to announce that the transaction establishing the JV has
been completed, enabling the JV to commence financing the development of
electrolyser capacity across the Nordics with a special emphasis on servicing
the rapidly growing market within the EU. Everfuel owns 51% of the JV and Hy24
-managed Clean Hydrogen Infrastructure Fund holds 49%.

Everfuels HySynergy Phase 1 flagship project is the first acquisition by the JV
with total transaction sum of EUR 26.9 and a debt free asset value of EUR 44.9
million. As part of the transaction structure a loan will be provided to the JV
which will be used to reimburse the loan from European Investment Bank (EIB).
The acquisition creates a framework model for an expanding portfolio of projects
and opportunities in the Nordic region and is effective from 29 September 2023.

"We can now step up on making green hydrogen commercially available through
development of strategically located hydrogen production facilities. Hy24's has
already proven to be the ideal partner and co-investor for Everfuel. Together we
will develop green hydrogen infrastructure needed to serve rapidly growing
demand from industry and mobility across our core markets to deliver on our long
-term plan for growth and value creation." says Jacob Krogsgaard, founder and
CEO of Everfuel.

"Deploying green hydrogen is key for the energy transition to succeed. With
Everfuel, we are sharing common objective of accelerating the widespread
development of essential hydrogen infrastructures to support the decarbonisation
of hard-to-abate sectors. HySynergy is the flagship project our Hy24/Everfuel
joint venture will deploy to make this pioneering vision becoming a reality."
says Pierre-Etienne Franc, co-founder and CEO of Hy24.

JV highlights:

  · Plans to invest a total of EUR 200 million in equity in green hydrogen
infrastructure in Denmark, Norway, Sweden and Finland. This will enable the JV
to fund, build, own and operate up to 1 GW of green hydrogen projects
  · Accelerated delivery of existing hydrogen project pipeline and strengthened
collaboration on other hydrogen production assets in the Nordic region
  · HySynergy phase 1 - 20 MW electrolyser is the first asset acquired by the JV
  · Combined industrial experience and financial strength of two leaders within
green hydrogen infrastructure
  · JV to leverage Everfuel's electrolyser development, construction and
operation capabilities
  · JV to benefit from Hy24's extensive business development experience and vast
hydrogen industry and policymaker relationships

For additional information, please contact:

Everfuel:

Jacob Krogsgaard, CEO, Everfuel, +45 2871 8945
Mads Tirsgaard Mortensen, Investor Relations Manager, Everfuel, mm@everfuel.com
+45 77 30 47 27

Hy24:
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, Germany and Belgium, 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.

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.