Plagazi AB (publ) has signed a letter of intent ("LOI") together with Blu-Power GmbH with the intent to form a long-term offtake agreement of 2'000 tons of green hydrogen, produced in Plagazi's and Neue Energien Premnitz's German large-scale project "Havelstoff" located in Brandenburg. The estimated amount of hydrogen that Blu-Power will source covers almost half of the yearly production of one Plagazi HE-2000 unit and the parties have agreed upon an indicative price of EUR 7 per kilogram of H2.   Blu-Power's aim is to create an infrastructure for fossil-free fuels for vehicles of tomorrow, efficiently, and with a negative ecological footprint.

Blu-Power have identified green hydrogen as the gas of the future and will be used in their fueling stations. The Blu-Power conglomerate consists of three parts: Blu-Power Franchise Blu-Motor Blu-Energy Blu-Power Franchise is building the world's first renewable fuel franchise while Blu-Motor is focusing on developing and producing next-generation vehicles. The last part of the company is Blu-Energy which will cover the franchise's innovative fueling stations.