2G Energy AG

  • WKN: A0HL8N
  • ISIN: DE000A0HL8N9
  • Land: Deutschland

Nachricht vom 22.07.2019 | 13:42

2G Energy AG receives order from Siemens for a hydrogen CHP

DGAP-News: 2G Energy AG / Key word(s): Incoming Orders

22.07.2019 / 13:42
The issuer is solely responsible for the content of this announcement.


 

- Hydrogen CHP to form part of a pilot project in Dubai

- Management Board expects 2019 net sales to be in the upper range of EUR 210 - 230 million


Heek, July 22, 2019 - 2G Energy AG (ISIN DE000A0HL8N9), one of the internationally leading manufacturers of gas-driven combined heat and power (CHP) systems for decentralized energy supply, has received an order to deliver a hydrogen-driven CHP system to Siemens AG. The 2G agenitor 412 forms part of a project on the Arabian Peninsula to produce hydrogen utilizing a solar powered electrolysis plant manufactured by Siemens.

The green hydrogen is then to be harnessed for emission-free re-generation with the 2G CHP unit. The solar power will be generated in one of the world's largest solar parks, which will be expanded to a capacity of 800 megawatts by mid-2020. This is a pilot project to test how the produced gas can be stored and converted back into electricity, or how it can be utilized for transportation purposes or other industrial applications. 2G is expected to deliver and install the hydrogen CHP by the end of the year.

Siemens also supplied the electrolyzer for the hydrogen CHP project for Stadtwerke Hassfurt. The cooperation in Dubai is now a further sign of confidence in 2G's hydrogen technology and confirms 2G's continuing leading role in research and development in the cogeneration area.

At the beginning of July, 2G received a further order for a hydrogen-powered CHP plant in Germany, and initial enquiries have already been received from abroad. "We identify keen and broad interest in our hydrogen expertise and are consequently optimistic that we will further expand our technological leadership," comments Christian Grotholt, CEO and founder of 2G Energy AG.


Net sales forecast for 2019 specified
Against the background of the continuing high order backlog and the constantly growing service business, the Management Board is specifying its sales forecast and expects to reach the upper end of the communicated range of EUR 210 - 230 million.



2G company portrait
2G Energy AG is an internationally leading full service provider of combined heat and power plants (CHP) with electric output between 20 kW and 2,000 kW, which are deployed for the decentralized generation and supply of electricity and heating. 2G is consistently expanding its technology leadership through continuous research and development work, both in gas engine technology for natural gas, biogas and synthetic gas applications (e.g. hydrogen), as well as in specific software development. In particular, this product range, which is based on thousands of plants realized, significantly differentiates 2G from its competitors.

2G benefits from global long-term trends that make efficient and effective energy solutions ever more important. These include rising energy demand accompanied at the same time by the need to conserve natural resources. Moreover, in the energy revolution's future electricity market design, the digitalization that 2G consistently implements forms an indispensable system-relevant element in combination with solar, wind, biogas and natural gas producers, and creates a high barrier to market entry for competitors.

The cogeneration of mechanical energy and heating/cooling make CHP technology more efficient and more environmentally compatible than conventional energy production methods. Compared with conventional electricity generation, CHP technology saves up to 40 percent of primary energy, and emits up to 60 percent less carbon dioxide and nitrogen oxide. 2G customers thereby benefit consistently from economically and ecologically highly beneficial innovations that rapidly pay for themselves and create extensive added values.

2G employs around 640 staff at its headquarters in Heek, Germany, in St. Augustine, USA, as well as at five other European locations. The company is active in a total of 50 countries and generated net sales of EUR 209.8 million in the 2018 financial year. 2G was founded in 1995 and has been listed on the stock market since 2007. The shares of 2G Energy (ISIN DE000A0HL8N9) are listed in the "Scale" segment of the Frankfurt Stock Exchange. The share capital amounts to EUR 4,430,000, and is divided into 4,430,000 shares. As of June 31, 2019, company founders Christian Grotholt and Ludger Gausling held a 53.0 % interest in the company, with the free float amounting to 47.0 %.



2019 calendar dates
September 26 Consolidated financial statements as of June 30, 2019
November 25 Q3 key figures and business trends
November 25-26 German Equity Capital Forum 2019, Frankfurt am Main


IR contact
2G Energy AG
Benzstrasse 3, 48619 Heek
Telephone: +49 (0) 2568 93 47-2795
Fax: +49 (0) 2568 93 47-15
Email: ir@2-g.de
Internet: www.2-g.de



22.07.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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