EXTENSION OF THE CAPITAL INCREASE SUBSCRIPTION PERIOD THROUGH 23 OCTOBER 2026
Grenoble, 9 October 2026, 7:00 p.m. - HRS , a French designer and manufacturer of hydrogen infrastructure and the European leader in hydrogen refueling stations (the “Company” or “HRS”), today announces that it has extended the subscription period for the capital increase announced on 29 September 2026 through 23 October 2026 at the latest, (the “Capital Increase”). The extension was granted to allow Arago Technologies, the parent company of Azur DataCenter, to complete the administrative formalities required prior to its subscription.
The Company has also been informed that one investor has withdrawn. As a result, the Capital Increase is expected to generate gross proceeds of €3.13 million, representing 82% of the €3.81 million initially targeted. It would comprise €1.65 million in cash and €1.48 million through the set-off of certain, liquid and due receivables from the Company. In parallel, the second €0.50 million tranche of ordinary bonds has already been fully subscribed.
Strengthening the cash position and extending the Company's cash runway
The Capital Increase and the second ordinary bond tranche would strengthen HRS's cash position by a total of €2.15 million in new liquidity. These transactions are expected to extend the Company's cash runway through February 2027. This runway does not include either cash inflows from potential new orders for which HRS is currently bidding or the resources that could be generated by the leaseback transaction.
HRS is also pursuing discussions with its longstanding banking partners to obtain bank financing, the terms of which will be adjusted to reflect the financing transactions described above, and which could be finalized in October 2026.
Completion and settlement of the headquarters sale-and-leaseback transaction, subject solely to the satisfaction of administrative conditions precedent, are expected by the end of 2026.
If all of these financing sources are secured, HRS estimates that it would have sufficient resources to fund its operations beyond 12 months.
Terms of the Capital Increase
The Capital Increase was approved by the Board of Directors on 28 September 2026 pursuant to the delegation of authority granted by the General Meeting of Shareholders held on 27 November 2025 under its 9th resolution (capital increase by way of an offering referred to in Article L. 411-2, 1° of the French Monetary and Financial Code).
The subscription period was initially scheduled to run from 29 September through 7 October 2026.
However, due to the administrative formalities required for Arago Technologies' subscription, the Board of Directors resolved on 7 October 2026 to extend the subscription period through 23 October 2026 at the latest.
ABOUT HRS (HYDROGEN REFUELING SOLUTIONS)
HRS is a French designer and manufacturer of hydrogen infrastructure.
It is one of the world leaders in high-capacity hydrogen refueling stations and offers a comprehensive range of modular and scalable stations, ranging from 300 kg/day up to 4 tonnes/day. As a pure player covering everything from design to commissioning of stations, HRS has state-of-the-art industrial production facilities, including a test facility that is unique in Europe, enabling it to test, trial and develop its products and solutions.
HRS currently has one of the largest installed bases of high-capacity stations on the market, with 31 stations ranging from 300 kg to 1 tonne per day, representing a combined capacity of over 6 tonnes per day. HRS also offers a comprehensive range of services, including maintenance, 24/7/365 on-call support and real-time monitoring via its ‘control room' – the only one of its kind in Europe. To date, 22 maintenance contracts for hydrogen stations have been signed.
HRS is also developing a range of filling centers dedicated to hydrogen logistics infrastructure, as well as Secure Power Units (SPUs) for generating electricity from hydrogen for critical infrastructure.
ISIN code: FR0014001PM5 – ticker symbol: ALHRS.
For further information, please visit our website www.hydrogen-refueling-solutions.fr
CONTACTS
| Investor Relations ACTUS finance & communication Pierre JACQUEMIN-GUILLAUME hrs@actus.fr Tel. +331 53 67 36 79 | Financial press relations ACTUS finance & communication Déborah SCHWARTZ hrs-presse@actus.fr Tel. +331 53 67 36 35 | Corporate press relations ACTUS finance & communication Anne-Charlotte DUDICOURT hrs-presse@actus.fr Tél. : +331 53 67 36 32 |
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This press release contains “forward-looking statements.” All statements other than statements of historical fact included in this press release, including, without limitation, statements regarding the Company's financial position, business strategy, and management's plans and objectives for future operations, are forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or industry results, to differ materially from the future results, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are based on numerous assumptions regarding the Company's current and future business strategies and the environment in which the Company will operate in the future. Other factors could cause actual results, performance or achievements to differ materially. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this press release, whether as a result of new information, future developments or otherwise. This press release and the information contained herein do not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, any securities, and no securities will be sold in any state or jurisdiction in which such offer, solicitation or sale would be unlawful absent registration or approval under the securities laws of such state or jurisdiction.
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