De Nora and Hydrolite signed an agreement to jointly develop and introduce to the market a novel AEM technology

The cooperation agreement involves the development, scale-up, and production of a novel AEM hydrogen stack by leveraging the knowledge and expertise of both parties

Milan 5th October 2023 – Industrie De Nora S.p.A. (“De Nora”), an Italian multinational company listed on Euronext Milan, specialized in sustainable electrochemical technologies and in the emerging green hydrogen industry and Hydrolite Ltd. (“Hydrolite”) – the energy subsidiary of Elbit Systems and a pioneer in Hydrogen AEM (Anion Exchange Membrane) technology that has developed and patented various stack technologies designed to meet multiple business scenarios and solve significant logistical and economic challenges – have agreed to join forces signing a Joint Development Agreement aimed at developing, evaluating, scaling-up, and producing a new AEM stack device, capable of hydrogen generation and conversion.

Ervin Tal-Gutelmacher, Hydrolite’s CEO and Christian Urgeghe, De Nora’s Chief Technology Officer

Christian Urgeghe, De Nora’s Chief Technology Officer, commented:

“The agreement signed with Hydrolite is an important step towards the development of green hydrogen production by exploiting the potential of AEM technology, which could better fit some specific applications thanks to its flexibility and efficiency thus responding proactively and effectively to the increasingly urgent demand linked to the energy transition process. De Nora once again demonstrates its commitment to innovation and the far-sightedness of its business choices by entering into an agreement with a leading company with the aim to make a positive contribution in an evolving market”.

Ervin Tal-Gutelmacher, Hydrolite’s CEO, commented:

“As the global demand for hydrogen solutions starts to increasingly grow in recognition of the critical role of hydrogen as a carbon-free fuel in a zero-carbon economy – Hydrolite’s proprietary AEM technology offers a compelling solution that combines the cost advantages of liquid alkaline technology with the high performance of solid-state membrane devices”
“Partnering with De Nora is a tremendous milestone, as we are both technology-driven companies with an innovative DNA, focusing on novel solutions for green energy transition. Hydrolyte’s extensive proprietary IP, know-how, and R&D capabilities in the AEM technology domain, together with De Nora’s core competencies in electrochemistry, extensive expertise in incremental research, testing facilities, product development, upscale, and mass production, will support both parties’ efforts to speed the maturity of the AEM technology, accelerate the path to mass production and shorten the time to market.”

About De Nora

Industrie De Nora is an Italian multinational company listed on the Euronext Milan stock exchange, specializing in electrochemistry, a leader in sustainable technologies, and has a vital role in the industrial green hydrogen production chain. The Company has a portfolio of products and systems to optimize the energy efficiency of critical industrial electrochemical processes and a range of products and solutions for water treatment. Globally, Industrie De Nora is the world’s largest supplier of activated electrodes (serving a broad portfolio of customers operating in the fields of chlorine and caustic soda production, components for electronics, and non-ferrous metal refining). Industrie De Nora is also among the world’s leading suppliers of water filtration and disinfection technologies (for the industrial, municipal, and marine sectors) and the world’s leading swimming pool disinfection components supplier. Leveraging its well-established electrochemical knowledge, proven manufacturing capability, and a supply chain established over the years, the Company has developed and qualified a portfolio of electrodes and components to produce hydrogen through the electrolysis of water, which is critical for the energy transition. In this sector, the company now holds 25.85% of thyssenkrupp nucera AG &Co. KGaA, a joint venture established with the thyssenkrupp group.

Founded in 1923, Industrie De Nora generated total revenues of around EUR 853 million and an Adjusted EBITDA of approx. EUR 191 million in 2022. The Company’s growth process has developed organically through continued penetration of new markets and applications and through acquisitions in the U.S., Asia, and Europe. De Nora’s continuous innovation drives its growth, represented by its evolving intellectual property portfolio, which currently includes more than 260 patent families with more than 2,800 territorial extensions. The De Nora family controls the Group, which owns 53.3% of the Company’s share capital. Snam S.p.A. is a minority shareholder with about 21.6% of the capital.

About Hydrolite

HYDROLITE is an Israeli company, fully owned by Elbit Systems (TASE: ESLT) that focuses on the development of novel hydrogen technologies for energy storage and conversion based on its world-leading alkaline exchange membrane (AEM) electrode and stack technologies. The company has developed extensive, proprietary AEM technologies and owns a comprehensive IP portfolio of more than 70 patent applications. The company is based in Caesarea, with over 1,200 m2 of state-of-the-art laboratories and hydrogen infrastructure that cover the development, design, implementation, and evaluation of innovative materials and nanotechnologies for AEM devices.