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SendR SE successfully completes change of name to Clean Logistics SE: Clean Logistics now heralds the decarbonization of heavy goods transport

Corporate News

Clean Logistics SE (formerly operating as SendR SE) announces that the capital increase against contribution in kind under exclusion of the shareholders' statutory subscription rights resolved by the Annual General Meeting of SendR SE on July 15, 2021 has been entered into the Commercial Register by the Local Court of Hamburg on August 25, 2021. As a result, the Company's share capital increased by EUR 10,509,415.00 to EUR 12,227,139.00. In addition, the change of name of the listed company SendR SE to Clean Logistics SE ("Clean Logistics"), which was also resolved at the Annual General Meeting, was entered in the Commercial Register. Thus, the change of name of SendR SE to Clean Logistics SE has been completed. The shares of Clean Logistics SE will continue to be listed on the stock exchange under the well-known ISIN DE000A1YDAZ7. With the entry of the capital increase as well as the change of name, the company completes another important step in its corporate history.

Clean Logistics is revolutionizing the transportation sector by converting conventional diesel-powered heavy-duty tractors and passenger buses into zero-emission hydrogen-powered vehicles. As a first mover, the company is thus making an important contribution to the decarbonization of the transportation sector.

The first public transport bus converted to hydrogen operation was delivered to Uckermärkische Verkehrsgesellschaft (UVG) on July 29, 2021. The HyBatt bus is Europe's first converted bus with fuel cell hydrogen drive in public transport. The converted Mercedes-Benz Citaro vehicle has a high-performance, completely emission-free energy system with a range of over 300 kilometers. As a pioneer in the conversion of diesel-powered vehicles, Clean Logistics has thus begun to lead the passenger and heavy-duty transport sector in Germany into a climate-neutral future. The second HyBatt bus will be handed over to UVG before the end of the fourth quarter of 2021. At the same time, the first three prototypes of the HyBatt truck will begin test operations this year. These are tractor units (40-ton trucks) from DAF, Mercedes and MAN, which together cover around 70% of the European truck market. The Clean Logistics trucks converted to hydrogen operation have a range of 400 to 500 km. The first HyBatt trucks will be converted on behalf of customers as early as the second quarter of 2022. Deliveries to customers are scheduled for the end of 2022.

With its unique combination of fuel cell, non-combustible high-performance batteries, hydrogen tanks and a specially developed and wear-free electric rear axle with wheel hub motors, Clean Logistics is already able to convert polluting tractor units and buses into zero-emission vehicles. The core of the development is HYBOSS: The specially developed intelligent operating and energy management software controls all drive elements in the various driving situations, is OTA-capable and takes over the entire operating strategy management in the vehicles. The vehicles are currently being converted at four conversion sites in Winsen, Lower Saxony. In an initial expansion phase, a further eleven conversion sites will be added in the second quarter of 2022. Clean Logistics will gradually increase capacity over the next few years by building up a partner network.

The alternative drive concept developed by Clean Logistics is not only CO2-neutral and resource-saving. In addition to zero-emission operation, the conversion technology leads to a significant reduction in CO2 emissions compared to the purchase of new zero-emission vehicles. In order to build up a climate-neutral and future-oriented vehicle fleet, logistics companies and transport associations do not have to purchase new vehicles, which eliminates a significant CO2 burden. In this way, climate-polluting diesel buses and tractor-trailers are taken off the road and equipped with climate-friendly future technology. In addition, drivers do not have to adapt to a new type of vehicle and, if necessary, receive training.

"We are the first supplier in Europe to convert polluting tractor units into zero-emission vehicles. The demand is enormous. All our conversion capacities have already been booked with binding effect. In addition, we have received concrete inquiries in the high three-digit range. We are systematically paving the way toward sustainable mobility. The decarbonization of road transport is an important concern for us," says Dirk Graszt, CEO of Clean Logistics SE.

Based on the political requirements and numerous initiatives at the state and federal level as well as the EU to promote climate-neutral technologies and infrastructure, a very high market potential for Clean Logistics is emerging. Within the next four years alone, almost half of all newly procured buses in public transport in Germany will have to be low-emission in accordance with EU regulations. Road freight transport is expected to increase by 19% by 2030, while at the same time the German government's goal is to reduce transport emissions by 48%. To achieve this, around 220,000 zero-emission trucks will need to be rolling in heavy goods traffic by 2030. "With the resource-saving conversion of existing trucks by Clean Logistics, around 75 tons of CO2 can be saved per vehicle and year. We see good growth opportunities and are ideally positioned in the market with our vehicles to implement pragmatic solutions for reducing CO2 emissions quickly and without loss of time together with logistics companies and transport associations," says Dirk Graszt, summarizing Clean Logistics' growth potential.