Everfuel and Karlstads Energi Gets Funding Notification for Potential Project in Sweden

Herning, Denmark -- fuel Production Karlstad AB have been awarded a grant by the Swedish Environmental Protection Agency under the Climate Leap (Klimatklivet) investment program following a funding application made in 2022, for the potential 20 MW electrolyser project. The project is a joint initiative with the local utility company, Karlstads Energi.

The project grant is subject to the parties moving forward with the project and fulfilling the grant conditions. If finally awarded, the grant would be in an amount of up to EUR 13.9 million (SEK 159.7 million), which would provide partial financing of the potential hydrogen production project in Karlstad. The project is not included in Everfuel’s updated strategy as announced in May 2023. Everfuel and Karlstads Energi are jointly exploring various options for the realisation of the project.