EQS-News: SFC Energy AG secured EUR 4 million follow-up order from its strategic partner FC TecNrgy Pvt Ltd. for fuel cell solutions to be used by the Indian Ministry of Defence

SFC Energy AG secured EUR 4 million follow-up order from its strategic partner FC TecNrgy Pvt Ltd. for fuel cell solutions to be used by the Indian Ministry of Defence

Brunnthal/Munich, Germany, 12 February 2025 – SFC Energy AG (“SFC”, F3C:DE, ISIN: DE0007568578), a leading provider of hydrogen and methanol fuel cells for stationary, portable and mobile hybrid power solutions, has received another order from its strategic partner FC TecNrgy Pvt Ltd. ("FCTec"), for portable and stationary methanol fuel cell solutions to be used by the Indian Defence Forces. Following the two major orders announced in 2023 with a combined order volume of more than EUR 33 million, the total value of the contract amounts to around EUR 4 million. The fuel cell solutions will be assembled by SFC's Indian subsidiary, SFC Energy India Ltd., and FCTec at the Gurgaon, Haryana (India) production facility.

With this follow-up order, the Indian Army again extends the user base for SFC's methanol fuel cell technology within its own armed forces. This is the result of the proven reliability and value of SFC’s portable and stationary fuel cell solutions in the field, such as the JENNY 600S, EFOY Pro 12000, EMILY 3000, and the EFOY 2800. These solutions produce electricity and can be used by units for parallel charging multiple batteries and powering sensors, monitoring and communication systems, and basic field electrification. Their use is often in remote areas, at high altitudes, and under extreme climatic conditions. SFC Energy's variable power solutions are highly reliable, easy to transport, and feature economical consumption of the fuel methanol, thus helping to reduce the overall logistical burden of fuel supply for the troops in such areas. In addition, the solutions are generally designed and built to be lightweight, allowing soldiers to retain a high degree of mobility and, thanks to the low methanol consumption of the fuel cells, to last for weeks in the field.

The Indian government is increasingly striving to replace fossil fuel-based environmentally harmful energy systems such as diesel generators with clean energy solutions to significantly reduce CO₂ emissions. The order is part of the government's “Make in India” initiative.

Dr. Peter Podesser, CEO of SFC Energy AG: “The establishment of SFC India and our strategic partnership with FC TecNrgy Pvt have proven itself successful, as evidenced by the award of this follow-up contract. In less than two years since the official start of production at our Gurgaon facility in July 2023, we have made substantial progress in meeting the growing demand for our fuel cell solutions in India and across Asia. This new order further strengthens our relationship with the Indian government, particularly the Indian Defence Forces. Above all, the order is another strong signal from the Indian government to follow the path of reducing CO₂ emissions and aligns with their strategic initiatives to promote clean energy solutions, including fuel cells.”

Colonel (Retd.) Karandeep Singh, Managing Partner of FC TecNrgy Pvt Ltd.: “The fuel cell solutions jointly developed by FC TecNrgy Pvt and SFC Energy fully meet the requirements of the end users – the armed forces – driving their growing adoption within the Indian Army and forming the basis of this follow-up order. In our long-standing, trusted, and successful partnership with SFC Energy, spanning more than a decade, we have achieved remarkable progress, including the local manufacturing of state-of-the-art fuel cells in India, fulfilling the requirements of the government's 'Make in India' initiative as another key factor for our shared success.”

Further information on SFC Energy's Clean Energy and Clean Power Management solutions can be found at sfc.com.

About SFC Energy AG
SFC Energy AG (www.sfc.com) is a leading provider of hydrogen and methanol fuel cells for stationary, portable and mobile hybrid power solutions. With the Clean Energy and Clean Power Management business segments, SFC Energy is a sustainably profitable fuel cell producer. The Company distributes its award-winning products worldwide and has sold more than 75,000 fuel cells to date. The Company is headquartered in Brunnthal/Munich and has operating subsidiaries in Canada, India, the Netherlands, Romania, Denmark, the United Kingdom, and the United States of America. SFC Energy AG is listed on the Deutsche Boerse Prime Standard and has been part of the selection index SDAX since 2022 (GSIN: 756857, ISIN: DE0007568578).

About FC TecNrgy Pvt Ltd.
FC TecNrgy is a Fuel Cell and Sustainable Energy Tech enterprise and the first company to commence marketing Methanol Fuel Cells in India. With over 6 years of experience in extended trials and validations, the company has now deployed more than 800 Fuel Cell Solutions in India as a back-up power to remote locations & critical infrastructures. We are the first venture in India to secure Fuel Cell contracts with the Indian Army, Indian Air Force, Ministry of Home and Smart Cities.

SFC Investor Relations and Press:
CROSS ALLIANCE communication GmbH
Susan Hoffmeister
Phone +49 89 125 09 03-33
Email: susan.hoffmeister@sfc.com
Web: sfc.com