Pressure Tech Regulatory News (PRES)

09 February 2021

Pressure Technologies plc

("Pressure Technologies" or the "Company")

Contract Win for Hydrogen Refuelling Stations

Pressure Technologies (AIM: PRES), the specialist engineering group, is delighted to announce that its wholly owned subsidiary, Chesterfield Special Cylinders ("CSC"), has secured a contract with Haskel Hydrogen Group (Haskel), part of the Precision and Science Technologies Segment at Ingersoll Rand Inc. (NYSE:IR) for the supply of high-pressure Type 1 steel vessels to be used for hydrogen storage in three new Hydrogen Refuelling Stations ("HRS").

This contract, to be delivered through summer 2021, increases the number of HRS projects secured by CSC for Haskel in Europe.

CSC has designed a specialised high-pressure containment solution for Haskel, which is integrated into their new refuelling station design, the Haskel Geno HRS, and configured to enable cost effective inspection and recertification with maximum availability through life using CSC's Integrity Management services.

The Haskel Geno HRS utilises state of the art technology and provides an energy efficient turnkey solution for flexible hydrogen supply, including allowing customers to pay with contactless credit cards.

The contract will be rolled out by Unipetrol Group and Bonett Group, with Bonett managing the integration of the hydrogen refuelling stations at existing Unipetrol sites throughout the Czech Republic. Haskel will deliver the hydrogen refuelling stations and work alongside Bonett as they manage the integration.

Working together, CSC and Haskel are fully committed to investment and expansion in global refuelling infrastructure for hydrogen-based mobility and are pleased to celebrate this next step in their close working relationship.

Commenting, Chris Walters, Chief Executive of Pressure Technologies plc said:

"Our recent successful fundraising was built, in part, on our plans to secure new opportunities in the fast-developing hydrogen energy market and we are delighted that the Chesterfield Special Cylinders team will be supporting Haskel with their new hydrogen refuelling station projects.

This contract win demonstrates our ability to develop strong and collaborative customer relationships that deliver safe, innovative and cost-effective hydrogen storage solutions in an exciting and growing market."

Darran Heath, General Manager at Haskel Global Hydrogen Systems Group said:

"We recognise the strong support Chesterfield Special Cylinders has given us over the past two years and are delighted to confirm this additional order that further cements our relationship. Hydrogen Refuelling Stations are central to our success and capable suppliers like CSC, with a shared vision on how to unlock the hydrogen opportunities, are the key to reliable and innovative supply now and in future. We look forward to achieving more success together."

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NOTES TO EDITORS

www.pressuretechnologies.com

With its head office in Sheffield, the Pressure Technologies Group was founded on its leading market position as a designer and manufacturer of high-integrity, safety-critical components and systems serving global supply chains in oil and gas, defence, industrial gases and hydrogen energy markets.

The Group has two divisions, Chesterfield Special Cylinders and Precision Machined Components.

Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com  

●Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH and Chesterfield Special Cylinders Inc.

 Precision Machined Components (PMC) -   www.pt-pmc.com

●Precision Machined Components includes the Al-Met, Roota Engineering, Quadscot, Precision Engineers and Martract brands.