The Management Board of the company Polenergia S.A. (“Issuer”) informs that on 7 April 2025 it decided to discontinue the project called H2 HUB Nowa Sarzyna: Green Hydrogen Storage, for which a subsidy agreement had been entered into with the National Center for Research and Development (“NCBR“) under the New Technologies for Energy I competition (“Project”) (“Agreement” or “Subsidy Agreement”) .
The subsidy agreement was entered into on 23 September 2022 by the Issuer as leader of the consortium, a subsidiary of the Issuer – Polenergia Elektrociepłownia Nowa Sarzyna sp. z o.o. (“ENS”) and Wrocław University of Technology. Information on the signing of the agreement was included in the stock exchange report No. 30/2022 dated 23 September 2022.
As at the date of the decision to discontinue the Project, the Project is in the second of the three phases provided for in the Agreement. Information on the commencement of phase two of the Project was provided in stock exchange report No. 53/2023 dated 22 November 2023. Completion of the second phase, as stipulated in the Agreement, is scheduled for 31 October 2025. The current prospects for the Project’s implementation offer no chance to complete the tasks scheduled in the second phase within the specified timeframe.
The main reasons, the occurrence of which, in the Issuer’s opinion, makes it unreasonable to continue work on the Project, include significantly longer delivery times and a limited availability of technological components required to implement the Project, the deliveries do not meet the time-schedule assumed in the contest phase.
The Issuer also reports that following the a/m decision, the Issuer, in its capacity of the leader of the Consortium, submitted a request to the NCBR on 7 April 2025 to discontinue the Project.
legal basis: Article 17(1) of the Regulation (EU) No. 596/2014 of the European Parliament and of the Council on market abuse and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.
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