Enapter pushes into 2024 with successes across three continents

Our solid 2023 performance has continued in 2024, with numerous new orders for the delivery of our AEM EL 4 single-core electrolysers – more than 250 of them or the USA, Belgium, India & Germany!

März 6, 2024

Enapter started the year with optimism and drive – and we’re happy to share that our latest numbers reflect this positivity in our business results. From impressive new AEM Electrolyser orders to excellent financials for 2023 and exciting use cases from all over the world, let’s dig in.

More than 250 EL 4 ordered

Our solid 2023 performance has continued in 2024, with numerous new orders for the delivery of our AEM EL 4 single-core electrolysers – more than 250 of them or the USA, Belgium, India & Germany!

In Germany, 121 EL 4s will go to the Stadtwerke Nienburg municipal utility in Lower Saxony, where the municipal utility plans to build a H2 filling station with local, self-sufficient hydrogen production. A further 40 AEM EL 4s were ordered by Vrihe Universiteit Brussels for its “Hydrogen Living Lab” project, to test the potential of a complete circular economy of power-to-hydrogen-to-power.

Across the Atlantic in the USA, The H2 World, a system designer and manufacturer for hydrogen, will deploy 50 water-cooled AEM EL 4s for various test purposes. Even further afield in India, around 50 AEM EL 4s were recently put into operation for various projects together with a local Indian partner – with applications in agriculture, gas blending and more.

Our single-core electrolysers enable the swift start of your green hydrogen journey – use individual EL 4s to pilot your solutions and easily expand with extra modules for more green hydrogen capacity. Request a quote for your AEM EL 4 Electrolyser today.

Enapter achieves first ever positive EBITDA

Our preliminary financial figures for 2023 are out, and we achieved positive EBITDA for the first time in the company’s history! Enapter’s turnover increased to EUR 31.5 million in the 2023 financial year, compared to EUR 14.7 million in 2022. We had an order backlog at the end of 2023 of ~ EUR 26 million, about EUR 14 million of which fall into 2024. On top of this, customer enquiries for 2023 totalled around EUR 1.6 billion. Another big insight was that demand for our larger-scale multi-core Electrolyser class has increased significantly: These devices including our AEM Nexus as well as the AEM Flex 120 now account for around 95% of total enquiries. In autumn 2023, the share was still 85%.

Our CEO Dr Jürgen Laakman states: “In our view, the result and the good order situation confirm that Enapter will make a significant contribution to the global decarbonisation of energy generation and industry with its iridium-free and thus future-proof modular AEM Electrolysers. Our focus is now on opening up new markets with our proven AEM technology and thus generating further growth potential.”
Read the full press release on the preliminary financials here.

New H2 use cases from our partners

We’ve got an impressive array of new partner use cases to share this month, starting in the US:

The US cleantech firm Harnyss showcased their containerised H2 storage solution ‘Oasis’ at the grand opening of their new production facility in Fort Worth, Texas. Their pilot system draws on our AEM Electrolysers to produce onsite green hydrogen, and uses 100% recyclable graphene-based, solid-state supercapacitors for long-duration energy storage. Read more about their advanced energy storage and grid balancing system here.

All hydrogen roads lead to Rome, where Italy’s first industrial green hydrogen energy backup plant has been installed for contracting and services firm ISAM s.r.l. After ISAM equipped itself with a PV system and battery energy storage, our Italian Certified Partner Simplifhy rounded out the system with its H2-Power cabinet, which integrates hydrogen production and long-term storage with electric cogeneration through fuel cells. Get the full details.

In Taiwan, Kaori Heat Treatment Co., Ltd has deployed one of its first AEM Electrolyser projects at The National Formosa University. The purpose of the project is to pilot and demonstrate the utilisation of renewable energy, green hydrogen and fuel cell power generation to support the future scale-up of backup and distributed power generation applications. Click through to more information.

Our global network of partners deploying AEM systems is growing. Are you interested in joining us? Let usn know and find more about becoming an Enapter Partner today.

February event insights

H2 Forum Berlin: The H2 Forum delivered a mix of exciting chats with newcomers and startups as well as deep dives with suppliers. We spoke with potential clients about projects ranging from pilots up to several-MW projects in Morocco and our AEM Electrolysers were represented at our booth and by H2Core Systems and Phoenix Contact. Thanks to everyone who passed by; We appreciate your positive feedback on our modular and flexible products.

IEA Innovation Forum: Our Co-Founder Vaitea Cowan was invited to the first Innovation Forum by the International Energy Agency (IEA) – to provide insights on how Enapter is scaling decentralized renewable hydrogen and essentially prompt the public and private finance sector to tackle barriers to Final Investment Decisions (FID). Her two key takeaways were: 1) That Predictability beats Affordability. It’s much more valuable to control energy assets and avoid cost spikes, driving the case for renewables and hydrogen production. On Enapter’s end, this means continuing to deliver quality products. 2.) That shared risk-taking will accelerate reaching FID: From customers co-investing with equity investors, to banks and government providing guarantees and insurance providers joining larger project developers. When all come together, we can reach speed and scale faster.

US ARC Forum: Our colleague Chris Muench attended the US ARC Forum in Orlando, Florida, to present on the use of OPC UA for energy technologies, drawing on the example of Enapter electrolysers and the TwinTransit project at the Pacific Northwest H2 Hub. He saw a lot of enthusiasm that there will be standards in energy technology, and especially for OPC UA, and met process automation solution providers wanting to participate in energy projects.

Upcoming events in Germany & the US

We have two events that we’d like to highlight for March and April:
First, Vaitea Cowan will speak at March’s CERAWeek conference in Houston, Texas, which explores strategies for a multidimensional, multispeed and multifuel energy transition.
Then, we return to Hannover Messe from April 22 to 26, where you’ll be able to find us in Hall 13, Booth C14 of the Messe’s Hydrogen + Fuel Cells EUROPE Expo.

It’s going to be a busy Hannover Messe and our team will only be available for a limited number of in-person meetings, so request your complimentary Hannover Messe ticket now book your slot now to ensure you don’t miss out!

We’re always looking for talented new additions to our team, and here are our picks of our job openings for this month.

Saerbeck, Germany:

Pisa, Italy:

If you don’t see the right position for you, please check out all of our open positions here.

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