Regulatory News

Brussels, 26 February 2021

Cenergy Holdings SA announces that on February 25th, DEPA Commercial, DEPA International Projects and Corinth Pipeworks S.A., steel pipe segment of Cenergy Holdings, signed a Memorandum of Understanding (MoU) regarding the implementation of joint actions for the promotion and expansion of the use of hydrogen in Greece’s energy system.

The first stage of the above-mentioned agreement concerns the development of all the required technical specifications to support the modern infrastructure of the hydrogen pipeline network in Greece and the analysis of the prerequisites for the conversion of the existing gas line pipe network infrastructure, in order to support the distribution of hydrogen.

Furthermore, it was agreed to have an ongoing exchange of information on European-level hydrogen development activities, within the “European Clean Hydrogen Alliance” and the European Hydrogen Association (Hydrogen Europe). At the same time, a common line was set up to resolve potential technical challenges on the transportation of other emerging alternative fuels, such as biomethane via pipelines.

Nonetheless, it was decided to work closely on the design, material selection and certification aspects regarding Projects of Strategic Importance of DEPA Commercial and DEPA International Projects, such as the ambitious “White Dragon” Project in Western Macedonia, the EastMed pipeline, as well as other important projects, which will contribute to achieving the energy transition.

About DEPA Commercial

DEPA Commercial, is the company that introduced natural gas to Greece and one of Greece’s major natural gas utilities, active in the supply, wholesale and trading of natural gas; Having entered into long- term pipeline natural gas and LNG supply contracts, it supports the supply sufficiency and security of the country and at the same time it develops significant initiatives so that Greece can play an essential role as a hub of natural gas transit to Europe from countries with rich natural gas deposits. DEPA has recently embarked in aligning its activities with the European Green Agenda and has extended its activities in the field of RES, Hydrogen and Biomethane projects. DEPA holds the position of Co-Chair of one of the six roundtables of the CLEAN HYDROGEN ALLIANCE, set up by the European Commission and aiming at developing and directing investments in order to facilitate and implement the EU’s hydrogen strategy via the creation of dedicated and “IMPORTANT PROJECTS OF COMMON EUROPEAN INTEREST (IPCEI)”. Before this background, DEPA also coordinates the potential Greek IPCEI project named “WHITE DRAGON”. DEPA is also member of various working groups of the European Hydrogen Association. In the field of RES, DEPA has extended its activities into electricity generation via the installation of large- scale Solar PV plants.

About DEPA International Projects

DEPA INTERNATIONAL PROJECTS, is a company whose activities include the development, construction and/or management of interconnection infrastructure linking Greece with neighboring countries, in various forms of energy including natural gas. The Company has taken over the projects promoted by DEPA through its participation in IGI Poseidon S.A. These projects are the EastMed and Poseidon pipelines as well as the Greek-Bulgarian IGB pipeline interconnector. All projects have been recognized as EU Projects of Common Interest (PCI). In line with the need to move to cleaner forms of energy, the Company will not be involved with projects related to crude oil and petroleum products and will look at also promoting biogas, hydrogen and storage projects in partnership with strategic European and international partners.

About Cenergy Holdings

Cenergy Holdings is a Belgian holding company listed on both Euronext Brussels and Athens Stock Exchange, investing in leading industrial companies, focusing on the growing global demand of energy transfer, renewables and data transmission. The Cenergy Holdings portfolio consists of Corinth Pipeworks and Hellenic Cables, companies positioned at the forefront of their respective high growth sectors. Corinth Pipeworks is a world leader in steel pipe manufacturing for the oil and gas sector and major producer of steel hollow sections for the construction sector. Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables as well as submarine cables for the aforementioned sectors. For more information about our company, please visit our website at www.cenergyholdings.com.