Company presentation January 2023
Unlocking hydrogen at scale
Everfuel at a glance
o Hydrogen is the green heavy-duty fuel - 100% clean and reaching diesel parity
o Hydrogen in the green gas alternative - 100% clean and reaching natural gas parity
o A dedicated fuel & energy company is needed to commercialize green hydrogen
-
Everfuel is Europe's new integrated energy company - providing green hydrogen for Energy, Industry and Mobility o HQ in Herning, Denmark, listed as EFUEL on Euronext Growth Oslo
o Everfuel is a Developer, EPC, Owner and Operator of the complete H2 value chain o Currently active in N, S, DK, D, NL, BE
Initial target markets
Following markets
Power | Hydrogen | Hydrogen | Hydrogen | Hydrogen |
generation | production | distribution | Industrial offtake | Stations |
2
Long-term plan supported by European framework conditions
o The inflation reduction act in US has given the necessary consistent long-term framework conditions for developers to bring projects to FID
o Europe catching up to US with RED II and
Delegated Act in December 2022 following RFNBO certification and national targets for both industry and mobility
o Everfuel engage in national and EU public affairs to address EU urgency for accelerated implementation
Stick and carrot incentives
CO tax and penalties | RED II1 & DA2 for RFNBO i.e., certificates |
2 |
RFNBO targets industry and transport | Funding programs like IPCEI |
ESG requirements - funds and industry | Contracts for Difference (CfD) |
1 Rev. RED II: revision of the Renewable Energy Directive II | 3 |
2 DA: Delegated Act on additionality, appendix to the rev. RED II | |
EU Taxonomy & RFNBO criteria will generate strong interest for Everfuel's green hydrogen activities
EU Taxonomy
(Investor focus)
RED II1 & DA2
(RFNBO2)
(Customer focus)
- Relevant for article 8 & 9 funds and green investors
- Green hydrogen definition not finally detailed
and in line with EU regulation
- Ticket schemes for green fuels and hydrogen for mobility e.g., country-specificcertificates
- Key criteria for green hydrogen defined
- Clear ambition to be eligible under EU Taxonomy and RFNBO when details are firmed
- Alignment of the pull for green hydrogen from Everfuel investors and customers
- Everfuel well positioned
to be a certified green H2 supplier
1 Rev. RED II: revision of the Renewable Energy Directive II | 4 |
2 DA: Delegated Act on additionality, appendix to the rev. RED II | |
Hydrogen market will reach a demand of 20Mt/y1 in 2030 - likely shortage on green hydrogen initially
Expected RFNBO consumption in 2030 in million tons (Mt) in EU
◼ transport & mobility ◼ industry ◼ others | 20 | ||||||||
5.3 | 4.0 | ||||||||
1.3 | 10 | Planned | |||||||
1.5 | import | ||||||||
8.3 | 3.2 | ||||||||
3.6 | |||||||||
2.3 | 10 | Planned EU | |||||||
production | |||||||||
6.4 | 1.8 | ||||||||
2.3 | |||||||||
transport | eFuels | refineries | industrial | chemicals | steel | blending | ammonia/ | need of | |
heating | derivates | RE H2 | |||||||
import |
Takeaways
- The European Commission's plan, REPowerEU estimates 10 Mt can be produced the in EU, and 10 Mt needs to be imported
- Hydrogen Europe's estimation of RFNBO market potential in 2030 is considered a pessimistic estimation compared to other studies
- Steel production is estimated to be a major off-taker for H2. 1.5Mt in steel reflects less than third of one major steel productions changing to BAF-EAFtrack
- Chemical production includes domestic production of fertilizers
1) Million tons per year | 5 |
Source: Hydrogen Europe; Deloitte Hydrogen4EU 2021 | |
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Everfuel A/S published this content on 20 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 January 2023 11:20:00 UTC.