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Luxcara joins Hamburg Green Hydrogen Hub

Luxcara joins the consortium as a partner with proven expertise in complex clean energyinfrastructure projects and also brings extensive experience in renewable power sales andprocurement.

Over the next few years, the HGHH consortium will build the green hydrogen productioninfrastructure on the site of the former Moorburg power plant. A 100-megawattelectrolyzer is planned, which will be powered by electricity from renewable energysources. The project is expected to start production in 2026 and will help decarbonizeHamburg's industry and port. Further expansion of the project’s capacity is planned in themedium term.

The consortium has also submitted the national IPCEI funding application to the Germangovernment, who has already included Moorburg in the national shortlist for IPCEI fundingfor the EU to review. The notification process is expected to be completed by the end ofthis year.

Christian Heine, Spokesman of the Management Board of Hamburger Energiewerke:"We are pleased with the local solution and to have Luxcara, a strong partner and hiddenchampion with a lot of experience in clean energy project planning and implementation, onour side. Together we are well positioned and have submitted the IPCEI application forfunding, thus initiating all necessary steps to advance the hydrogen ramp-up here in Ham-burg. Now it's the EU's turn."

Philip Sander, Managing Partner at Luxcara: "We are proud to be an integral part of thispioneering hydrogen project in our home city. Together with Hamburger Energiewerke, weare tackling the transformation of the Moorburg site, including the reuse of existinginfrastructure. We are delighted to be able to drive forward the energy transition on ourdoorstep, not only for the citizens, business and industry of the Hanseatic city, but also forthe environment."

Jens Kerstan, Hamburg’s Senator for Environment, Climate, Energy and Agriculture:"The realization of the 100-megawatt electrolysis at the Moorburg site is becomingtangible, the necessary preparations and project steps have now been completed and theIPCEI application has been submitted. The Hamburger Energiewerke will now implementthe hydrogen project on the site of the former Moorburg power plant together with theHamburg-based company Luxcara. Luxcara is operating throughout Europe and is commit-ted to Hamburg. This will enable us to press ahead with this important IPCEI project andcomplete it on schedule. For Hamburg, Moorburg is an important building block toestablish our city as one of the leading hydrogen hubs in Germany and in Europe. We arecertain that this will be the beginning of a further expansion of hydrogen capacity at thesite, and we are pleased that this powerful consortium will be among the first hydrogenproducers in Germany."

Dr. Melanie Leonhard, Hamburg’s Senator for Economics and Innovation: "With Luxcara,a Hamburg-based company is becoming part of the consortium for the hydrogen project inMoorburg. This means that one of the largest European producers of renewable energyelectricity is joining - this expertise will be an asset for the entire project. Hamburg with itsstrong industrial base has a high demand for renewable power and green hydrogen.This makes Hamburg the ideal location for hydrogen applications and the development of agreen hydrogen economy."

The consortium for the Hamburg Green Hydrogen Hub consists of the partners Luxcara andHamburger Energiewerke. Luxcara is taking over the shares from Shell and Mitsubishi. Thetransfer is subject to the approval of the German Federal Cartel Office.

Hamburger Energiewerke had purchased the former Vattenfall Heizkraftwerk MoorburgGmbH in March of this year, acquiring the company along with its employees, buildings,remaining components and the associated land at Moorburger Schanze. Demolition work iscurrently underway. The next step will be to prepare the site for the construction of thehydrogen infrastructure.

* IPCEI projects (Important Project of Common European Interest) are projects that areclassified by the EU Commission as particularly worthy of support and are subject to specialcriteria. Among other things, these projects must contribute to the strategic goals of the EUor pursue ambitious research objectives.

About Luxcara

Luxcara is an independent asset manager offering equity and debt investment opportuni-ties to international investors in the global renewable energy market. The management-owned company acquires, structures, finances and operates renewable energy and relatedinfrastructure projects as a long-term buy-and-hold investor. Luxcara’s longstanding focuson un-subsidized markets has made the company of one Europe’s most prominentinvestors in pro-jects with long-term power purchase agreements.

The company’s portfolio includes clean infrastructure across Europe with a total capacity ofaround 6 GW and an investment volume of about EUR 6 bn. This track record, dating backto 2009, makes Luxcara one of the continent’s most experienced asset managers for renew-able energy investments.

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About Hamburger Energiewerke

Hamburger Energiewerke is a municipal company that supplies around 500,000 residentialunits in Hamburg with local district heating for heating and hot water. By 2030, thecompany wants to completely dispense with heat from coal combustion and is relying pri-marily on the consistent use of existing waste heat from industry, waste water, wasterecycling – and in the future from electrolysis. The company supplies a heat output ofaround 1,800 megawatts through the 850-kilometre-long pipeline system and achieves aheat sales volume of 4,000 gigawatt hours. Its share of the Hamburg heating market isabout 25 per cent.

Media contact Luxcara:

Lars Haugwitz
GFD - Gesellschaft für Finanzkommunikation mbHTelephone: +49 69 97 12 47 34

Media contact Hamburger Energiewerke:

Friederike Grönemeyer
Hamburger Energiewerke GmbH
Telephone: +49 40 6396 2732