PLASTIC OMNIUM (EPA:POM) - PLASTIC OMNIUM and AVL sign a strategic hydrogen partnership

Transparency directive : regulatory news

23/11/2021 07:30

Levallois, November 23, 2021.

PLASTIC OMNIUM AND AVL SIGN A STRATEGIC HYDROGEN PARTNERSHIP

Plastic Omnium, a leading automotive supplier and key player in the hydrogen
value chain, together with AVL, the world's largest independent company for
development, simulation and testing in the automotive and energy industries,
have signed a partnership agreement for the development of high and medium
power hydrogen systems. The new partnership will enable Plastic Omnium to
accelerate the commercial rollout, as of 2022, of a range of high-performance
cost-effective hydrogen systems for use in all categories of vehicles. These
complete future systems will incorporate fuel cells from EKPO, a joint venture
between ElringKlinger and Plastic Omnium.

The agreement will allow the partners to deliver an integrated response to the
full range of market requirements, with complete systems covering all power
outputs from 10 to 200 kW.

Prof. Helmut List, Chairman and CEO of AVL states: "AVL is proud to enter this
partnership with Plastic Omnium with the aim to develop leading edge fuel cell
systems for a wide range of vehicle applications. The two companies fit
perfectly well together as AVL will bring in 20 years of experience in fuel
cell development together with all necessary methods and tools, whereas Plastic
Omnium has a unique track record in industrialization and automotive series
production".

The partnership opens the way to commercial collaboration to provide end-to-end
solutions to the fuel cell market, focused on OEMs and fleet operators. Joint
marketing activities will be set up, with Plastic Omnium focusing on the fuel
cell systems side and AVL on vehicle integration.

Laurent Favre, Plastic Omnium's CEO comments: "Plastic Omnium is now starting
to produce its range of hydrogen solutions at scale. By pooling our expertise,
this tie-up with AVL will ramp up development of a range of hydrogen solutions
tailored to each segment, and help accelerate the emergence of hydrogen in the
heavy and commercial vehicle segments. This partnership is another milestone in
Plastic Omnium's hydrogen strategy and in our growing role in zero-emission
mobility".

About Plastic Omnium

Plastic Omnium has supported change in the automotive industry for the past 75
years. As the transformation toward sustainable mobility accelerates, Plastic
Omnium is leveraging its entrepreneurial spirit and innovation-led culture to
design and produce complex and interactive body systems as well as systems for
emission reduction and energy storage. Sustained investments in hydrogen since
2015 have developed a comprehensive range of hydrogen storage vessels, fuel
cells and systems. These assets and innovations position Plastic Omnium as a
partner of choice for every stakeholder in clean mobility.

With revenue of EUR7.7 billion, a global network of 135 plants and 25 R&D
centers located close to its customers, the 31,000 women and men of Plastic
Omnium are committed to meeting the challenges of net-zero mobility.

Plastic Omnium is listed on Euronext Paris, compartment A, is eligible for the
Deferred Settlement Service (SRD) and is part of the SBF 120 and CAC Mid 60
indices (ISIN code: FR0000124570). www.plasticomnium.com

About AVL

With more than 11,000 employees, AVL is the world's largest independent company
for development, simulation and testing in the automotive industry, and in
other sectors. Drawing on its pioneering spirit, the company provides concepts,
solutions and methodologies to shape future mobility trends. AVL creates
innovative and affordable technologies to effectively reduce CO2 by applying a
multi-energy carrier strategy for all applications - from hybrid to battery
electric and fuel cell technologies. The company supports customers throughout
the entire development process from the ideation phase to serial production. To
accelerate the vision of smart and connected mobility AVL has established
competencies in the fields of ADAS, autonomous driving and digitalization.
AVL's passion is innovation. Together with an international network of experts
that extends over 26 countries and with 45 Tech- and Engineering Centers
worldwide, AVL drives sustainable mobility trends for a greener future. In
2020, the company generated a turnover of 1.7 billion Euros, of which 12% are
invested in R&D activities.

For more information: www.avl.com

Contacts :
Press: Myriam MALAK
myriam.malak@plasticomnium.com

Investor Relations: Kathleen WANTZ-O'ROURKE
investor.relations@plasticomnium.com

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PLASTIC OMNIUM (EPA:POM) - PLASTIC OMNIUM and AVL sign a strategic hydrogen partnership

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