Topsoe and Fidelis New Energy form Carbon Neutral Hydrogen Technology Alliance

COPENHAGEN,Denmark and HOUSTON,Jan. 10,2023 --Topsoe A/S ("Topsoe") and Fidelis New Energy,LLC ("Fidelis") have entered into a global alliance for technology used for producing carbon neutral hydrogen. The alliance pairs Topsoe's hydrogen process portfolio with FidelisH2™ technology for reduction of lifecycle carbon emissions in hydrogen production. Combined,the alliance solution enables the production of hydrogen from natural gas with a lifecycle carbon intensity of 0 kgCO2e / kgH2.

Producing decarbonized products,materials,and fuels through proven technologies such as the Topsoe Blue Portfolio and FidelisH2 is a critical contribution to decarbonizing carbon intense sectors of society,including industry,digital infrastructure,agriculture,energy,and transportation. Topsoe and Fidelis are dedicated to continue to play their roles in this important endeavor to accelerate the energy transition and to join forces to provide an offering for life cycle carbon neutral hydrogen utilizing renewables and natural gas.

Partnering to support the industry's energy transition

Fidelis and Topsoe will jointly and exclusively license FidelisH2™ alongside Topsoe's blue hydrogen technology portfolio. Topsoe will lead engagement with potential licensees interested in utilizing FidelisH2™ to produce carbon neutral hydrogen at world scale using proven technologies.

Henrik Rasmussen,Managing Director,The Americas,Topsoe,said "This is an exciting partnership to lead the way to achieve net-zero in 2050. I look forward to working with Fidelis in setting the bar high regarding transitional energy technologies. With this alliance,we can offer clients across all industrial sectors,a proven and exceptional carbon neutral hydrogen solution."

Co-Founder and CEO of Fidelis,Dan Shapiro,said "We are excited to partner with Topsoe,the leading provider of hydrogen production technology and catalysts. After several years of work with Topsoe leadership,catalysts,and technologies,we are pleased to formally join forces with them through this Global Alliance Agreement to deliver carbon neutral hydrogen produced from Topsoe's Blue Portfolio and the innovative and novel FidelisH2™ process."

Fidelis Co-Founder and COO,Bengt Jarlsjo added,"We look forward to deploying FidelisH2™ across our future projects and to providing other select users a path to zero carbon intensity clean hydrogen utilizing certified natural gas and renewable energy."

Providing a scalable solution for low carbon hydrogen production

Topsoe's industry leading hydrogen process portfolio includes both steam methane reforming and SynCOR™ autothermal reforming solutions to produce hydrogen with integrated carbon capture. FidelisH2™ is a proprietary solution for incorporation of renewable energy into reforming processes to achieve clean hydrogen production. The novel integration of these proven technologies offered through the alliance provides a scalable solution well suited for generating valuable climate and environmental incentives such as the 45V tax credits provided in the United States Inflation Reduction Act of 2022.

About Fidelis New Energy

Fidelis New Energy is an energy transition company driving decarbonization through infrastructure development and investments in renewable fuels,low or negative carbon intensity products,and carbon capture and storage through a growing portfolio of proprietary and patent-pending technologies to address climate and energy security challenges.

The Fidelis approach builds upon our proprietary ESG centric RACER™ framework where we collaborate with a diverse set of industry experts to select attractive markets and projects,then work collaboratively and iteratively to improve environmental and financial performance by innovatively integrating proven technologies from leading global providers.

Fidelis New Energy is headquartered in Houston,Texas with offices in Baton Rouge,Louisiana and Copenhagen,Denmark. For more information,visit www.fidelisnewenergy.comand stay updated through our LinkedInprofile.

About Topsoe

Founded in 1940,Topsoe is a leading global developer and supplier of decarbonization technology,and services for the energy transition.

Our mission is to combat climate change by helping our partners and customers achieve their decarbonization and emission-reduction targets,including those in hard-to-abate sectors such as aviation,shipping,and the production of raw materials. From carbon reduction chemicals,to renewable fuels and plastic upcycling,we are uniquely positioned to aid humanity in realizing a sustainable future.

Topsoe is headquartered in Denmark,with over 2,100 employees serving customers all around the globe. To learn more,visit www.topsoe.com