GKN Powder Metallurgy to establish new business unit GKN Hydrogen

BONN,Germany,May 4,2021 --

GKN Powder Metallurgy launches new dedicated green hydrogen unit,GKN Hydrogen,on May 11,2021,with a virtual market launch event

GKN Hydrogen is pioneering emission-free,safe and compact all-in-one renewable energy storage solutions to drive the global energy transition

GKN Hydrogen's unique green hydrogen storage technology based on metal hydrides is the most reliable and secure system on the market

The Hydrogen unit launch reinforces GKN Powder Metallurgy's global technology leadership in conjunction with other advances the business is making,including in 3D printing

GKN Hydrogen's 100% recyclable product suite has been developed and refined over the last years to become the most reliable and secure hydrogen storage solution on the market. The robust systems generate green hydrogen from fluctuating renewable energy sources,storing it compactly and safely in metal hydride over long periods of time. When needed,the green hydrogen can be used directly or converted back into electricity and heat for a variety of applications. The scalable system design allows for maximum versatility,from emergency power backup and off-grid energy supply to residential housing,maritime transport,and large-scale industry.

With its energy storage capacity of 260kg hydrogen (4.5MWh electrical energy),GKN’s HY2MEGA is the largest metal hydride storage on the market and ideally suited for energy supply applications where safety and compactness are crucial.

Peter Oberparleiter,Chief Executive Officer at GKN Powder Metallurgy,said: "GKN Hydrogen is an incredibly exciting venture that will play a key role at the forefront of the energy transition. Using a state-of-the-art technology with far-reaching implications and extensive scope for development,we are helping to solve the issue of hydrogen storage and provide a clean energy for all that is green,safe and compact."

With the launch of GKN Hydrogen,its second business unit to focus on innovative technologies alongside GKN Additive,GKN Powder Metallurgy is strengthening its position as a provider of leading-edge technology solutions for the future. Leveraging the business's world-leading position in powder metal solutions,GKN Hydrogen is pioneering safe,emission-free green hydrogen storage to help organizations and societies around the world achieve their carbon neutrality goals today,and in the years to come.

Peter Oberparleiter continues: "We created GKN Hydrogen after consulting with colleagues from across GKN Powder Metallurgy and are proud to be seen as an enabler for a decentralized,carbon neutral energy supply infrastructure. We are very excited to introduce our new business unit to the world on May 11,2021. Our mission is to stop climate change,for ourselves and for generations to come."

This press release is available at https://www.gknpm.com/en/news-and-media/.

To register for the launch event,please visit www.gknhydrogen.com.

Follow us on LinkedIn at www.linkedin.com/company/gkn-hydrogen.

GKN Powder Metallurgyis the world's leading authority in powder metal solutions,from advanced metal powders to high-performance sinter metal components. Leveraging its strong core business competencies,the company is accelerating its expansion into the future growth areas of Additive Manufacturing and Hydrogen Storage. As a stand-alone business unit of Melrose PLC,GKN Powder Metallurgy today comprises four business units: GKN Powders,GKN Sinter Metals,GKN Additive and GKN Hydrogen. Together GKN Powder Metallurgy empowers over 6,000 problem solvers in 29 locations,setting its global technology network at the highest standard.

Contact for journalists:

GKN Powder Metallurgy

Alexandra Rohe,Global Communications Manager

alexandra.rohe@gknpm.com

+49 (0)228 9335 0