SFC Energy AG and its strategic partner FC TecNrgy Pvt Ltd. secure major order from the Indian Ministry of Defence for portable fuel cell solutions

Brunnthal/Munich, Germany, March 06, 2023 – SFC Energy AG (F3C:DE, ISIN: DE0007568578), a leading supplier of hydrogen and methanol fuel cells for stationary and mobile hybrid power solutions, together with its strategic partner FC TecNrgy Pvt Ltd ("FCTec"), has received a major order from the Indian Defence Forces to supply 450 portable methanol fuel cell systems.

The contract includes the supply of the systems over a period of one year for an initial contract value of more than EUR 16 million and the servicing and maintenance of the systems over a period of five years. The assembly of the energy solutions will take place at SFC's Indian subsidiary at the new site in Gurgaon, Haryana. The order is the largest fuel cell contract by the Indian defence forces awarded till date.

The portable fuel cell systems are used by infantry and special forces units for parallel charging of multiple batteries and for powering sensors, surveillance and communication systems, among others. Their use often takes place in remote areas, at high altitudes and under extreme climatic conditions. SFC Energy's portable energy solutions are extremely reliable, easy to transport, highly intelligent, and convincing with very low consumption of the fuel methanol.

The Indian government is increasingly striving to replace fossil fuel-based environmentally harmful energy systems such as diesel generators by clean energy solutions. As an important boost to the Indian government's "Make in India" initiative in the field of clean energy and CO2 reduction, an agreement on strategic cooperation with mutual equity participation of local companies and production of hydrogen and methanol fuel cells in India was signed between SFC Energy and FCTec on the sidelines of the summit meeting between German Chancellor Olaf Scholz and Prime Minister Shree Narendra Modi and the respective government and business delegations in New Delhi on February 25, 2023.

"Only a few days after signing our 'Make in India' production agreement with our partner FCTec, we have received an important milestone order for portable fuel cells from the Indian Defense Forces. This confirms our confidence in India's business potential, especially in light of the recent policy measures announced by the Indian government to promote clean energy solutions, including fuel cells. By manufacturing these systems under the 'Make in India' agreement, we aim to contribute our extensive expertise in hydrogen and fuel cell technology to help India achieve its ambitious climate change goals and support the “National Green Hydrogen mission” across various industries and regions. With more than 60,000 fuel cells sold, SFC Energy's globally proven and reliable energy solutions enable efficient and emission-free power generation for a wide range of power and applications. With our strategic partner FCTec in India we share the vision of a climate-neutral society and the conviction to make an important contribution to the global energy transition," says Dr. Peter Podesser, CEO of SFC Energy AG.

"The fuel cell solution was developed jointly to charge and power the commonly used batteries, sensors, surveillance and communication systems of the Indian Defense Forces. The fuel cell is equipped with chip-based smart cables, military-grade connectors, a portable methanol refill unit and a smart hybrid battery, among other features, and weighs less than eight kilograms in total. Defence forces need to carry a large number of spare batteries during their missions. This solution now makes it possible to reduce power consumption by up to 80% while improving reliability, mobility and mission duration besides generating clean energy. We are very pleased and proud that these state-of-the-art fuel cells are now being produced in India together with our partner SFC Energy," says Colonel Karandeep Singh (Retd.), Managing Director of FCTec.

For more information on SFC Energy's Clean Energy and Clean Power Management solutions, visit www.sfc.com.

About SFC Energy AG

SFC Energy AG (www.sfc.com) is a leading provider of hydrogen and direct methanol fuel cells for stationary, portable and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 65,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich, Germany, and has operating subsidiaries in Canada, India, the Netherlands, Romania, the United Kingdom, and the United States of America. SFC Energy AG is listed on the Deutsche Boerse Prime Standard and has been part of the selection index SDAX since 2022 (GSIN: 756857 ISIN: DE0007568578).

SFC Contact

Marc Bächle
Tel: +49 89 125 09 03-32
Web: sfc.com

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