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Clean Logistics SE continues successful business development during the first half-year 2022 and positions itself for further growth

Corporate News
  • Important strategic milestones reached, and new orders received
  • Very high demand for hydrogen trucks and buses leads to a bulging order pipeline
  • Business activities and conversion capacities expanded on schedule
  • Result in line with expectations, and forecast for full year 2022 confirmed

Hamburg, 28 October 2022: Clean Logistics SE (ISIN DE000A1YDAZ7) has successfully continued its dynamic business development during the first half-year of fiscal 2022. The company reached further important milestones during the reporting period and strategically positioned itself even more broadly for future growth by expanding its business activities.

In June, Clean Logistics presented the fuel cell electric zero-emission truck "fyuriant" to the public at the Stade airfield as a world premiere - heralding a new era in environmentally friendly solutions for freight transport. A contract was concluded with GP Joule, a leading company for the production of green hydrogen and renewable energy as well as the associated infrastructure, concerning a reservation of 40 conversion stations for the production of trucks with fuel cell electric drive. In addition, Clean Logistics has entered into supply contracts for zero-emission hydrogen trucks with hylane, a subsidiary of the insurer DEVK, among others.

Together with renowned partners, Clean Logistics has launched the "CryoTruck" consortium during the reporting period. Its objective is to develop a hydrogen-powered long-haul truck with cryogas drive, which is expected to have a range of up to 1,000 km with a refuelling time of only ten minutes. Clean Logistics is in charge of the integration of the refuelling systems as well as the development of the fuel cell and hydrogen technology.

After the end of the reporting period, the cooperation with GP Joule was significantly expanded in August 2022. Clean Logistics has concluded a framework agreement with the company for the delivery of 5,000 hydrogen trucks. Clean Logistics will go beyond its current business model, which is the conversion of existing vehicles to hydrogen drive and will also build new vehicles in the future. In addition to fuel cell, battery and hydrogen tank systems, the in-house developed axle with wheel hub motors and the "HyBoss" control system developed by Clean Logistics will be used.

Sales revenues amounted to around EUR 392,000 during the first half-year 2022. The net loss for the period was around EUR -5.5 million. This includes, among other things, goodwill amortisation of around EUR 1.3 million. The half-year figures are characterised by high expenses for the planned significant expansion of the business activities of Clean Logistics. Among other things, the construction of a new production hall with around 10,000 m² of space and 50 additional conversion stations is planned.

Another important milestone was the acquisition of the Dutch truck manufacturer GINAF Trucks Nederland B.V. in July 2022. In this way, the Clean Logistics Group has an original vehicle manufacturer (OEM) which meets the relevant registration requirements for own vehicles in Europe.

For the full year 2022, Clean Logistics confirms its forecast, according to which sales revenues are expected to increase to a low double-digit million euro amount along with improvements in the annual result.

Dirk Graszt, CEO of Clean Logistics: "We are highly satisfied with our development during the first half-year 2022. We have developed well according to plan and have been able to set an important course for our long-term growth. As the year has progressed, our growth has continued to be dynamic. We have received further orders for the conversion of trucks and, with the acquisition of GINAF, we are excellently positioned in the market to expand market shares and further drive the urgently needed decarbonisation of freight transport."

The 2022 half-yearly report is available for download on the corporate website in the "Investor Relations" section.