AREVA: Hydrogen Production: Creation of a Global Leader in PEM Electrolysis

  AREVA: Hydrogen Production: Creation of a Global Leader in PEM Electrolysis

Business Wire

PARIS -- May 23, 2014

Regulatory News:

AREVA (Paris:AREVA), SMART ENERGIES through its subsidiary CETH[2], and the
ADEME (French Environment and Energy Management Agency) announce the creation
of the AREVA H2-Gen joint venture, which aims to manufacture Proton Exchange
Membrane (PEM) electrolysers. This technology shall enable hydrogen to be
produced from water and electricity.
Initially intended for industrial applications, PEM electrolysis is now
targeting the renewable energy storage market, to supply service stations with
hydrogen for fuel cell vehicles or to supply natural gas networks

AREVA, SMART ENERGIES and the French State, represented by the ADEME as
operator of the Investissements d’Avenir (investments for the future)
Programme, will eventually hold equal stakes in the company, with the aim of
making it a leading global player in the field of hydrogen production by
electrolysis. This company will be based in France, where it will have a
dedicated engineering and production site.
The equity investment provided by the ADEME, acting on behalf of the French
State, shall help finance the investments required for the development and
sale of more powerful electrolysers.

Vianney de l’Estange, CEO of SMART ENERGIES, expressed his delight with this
agreement: “We acquired CETH[2] in 2010 to finance the first prototypes of PEM
electrolysers, and have supported the company over the past four years in its
technical and commercial development. In a PEM electrolysis market undergoing
strong growth, we are now delighted to be able to join forces with an
industrial partner such as AREVA, with the financial support of the ADEME.”

Luc Oursel, President and CEO of AREVA, said: “PEM electrolysis is a solution
which is relevant because the market for the storage of hydrogen-based energy
is growing at such a fast rate. Particularly well-suited to the mass
production of hydrogen, this solution offers considerable competitive
advantages compared to traditional technologies. In particular, it meets the
expectations of customers striving to optimize the use of local renewable
sources of energy.”

Finally, Bruno Lechevin, President of the ADEME, declared that: “This
initiative will help to speed up the emergence of hydrogen as a storage
solution. In particular, these solutions will help to better promote the
production and development of renewable energies in France and throughout the
rest of the world. It also shows the importance of the “Investissements
d’Avenir” Programme, which has made it possible to create a new industrial
player combining the flexibility of an SME with the solidity of a large
company, supported by equity funds.”

SMART ENERGIES is a French group having invested for many years in energy and
environment technologies. The group currently invests in renewable power
generation to expand the size of its portfolio of hydro, solar PV and biogas
plants, as well as in clean technologies, including hydrogen generation
through its subsidiary CETH2.

AREVA is a world leader in nuclear power. The group’s offer to utilities
covers every stage of the nuclear fuel cycle, reactor design and construction,
and operating services. Its expertise and uncompromising dedication to safety
make it a leading industry player.
AREVA also invests in renewable energies to develop, via partnerships, high
technology solutions.
Through the complementary nature of nuclear and renewables, AREVA’s 45,000
employees contribute to building tomorrow’s energy model: supplying the
greatest number of people with energy that is safer and with less CO2.

The Agence de l'Environnement et de la Maîtrise de l'Energie [Agency for
Environment and Energy Management] (ADEME) is involved in the implementation
of public policies in the areas of environment, energy and sustainable
development. To help environmental progress, the agency provides businesses,
local communities, governments and the general public, with expert assessment
and advice. It also helps to finance projects, from research to
implementation, in the following areas: waste management, soil conservation,
energy efficiency and renewable energy, air quality and the fight against
ADEME is a public institution under the Ministry of Ecology, Sustainable
Development and Energy and the Ministry of Higher Education and Research.


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