Press Release

Lower Saxony's Environmental Minister, Olaf Lies, presents Clean Logistics SE with a grant notification in the amount of around EUR 7.6 million for a planned development project

Hamburg, 26 October 2022: Clean Logistics SE (ISIN DE000A1YDAZ7) receives as a first building block for a development project planned for the years 2023 to 2025 a grant from the State of Lower Saxony.  Clean Logistics Technology GmbH (CLT) and XPANSE Powertrain GmbH (XPANSE), wholly-owned subsidiaries of Clean Logistics SE, today received a notice of approval from Olaf Lies, Minister for the Environment, Energy, Construction and Climate Protection of the State of Lower Saxony, for a grant of around EUR 7.6 million from the Lower Saxony Ministry for the Environment, Energy, Construction and Climate Protection. The aim of the joint project "Battery Electric Truck with H₂ Range Extender" (BETH₂REX) with the Institute for Mobile Machinery and Commercial Vehicles (IMN) at the Technical University of Braunschweig is to develop a novel electric vehicle concept for medium-duty trucks. Approx. EUR 5.5 million of the total amount of around EUR 7.6 million will be awarded to XPANSE, around EUR 1.6 million to CLT and approx. EUR 0.5 million to the IMN. The project involves a total cost of EUR 13.1 million and has an expected duration until mid-2025. The implementation of the project is part of the development strategy of the group. The execution of the project and the notice of approval are subject to the reservation that Clean Logistics SE finances the other 50% of the project costs from equity or debt capital yet to be raised.

Furthermore, the project aims to develop and build up to five prototypes of the medium-duty truck class with an electric drive concept equipped with a scalable hydrogen fuel cell system as a range extender or main energy source. This type of vehicle can be used around the clock in urban and regional distribution transport thanks to its performance, emission-free drive and especially its low noise emissions. The vehicles are to be actively used and tested in distribution traffic for this purpose. In addition to the development of the prototypes, a possible serial production is already to be prepared conceptually.

Olaf Lies, Minister for the Environment, Energy, Construction and Climate Protection of the State of Lower Saxony: “We urgently need to reduce CO2 emissions in transport in order to achieve our climate targets. To do this, we need not only concepts in the passenger car sector, but alternative drive systems for all vehicle classes - including freight transport. There is currently no manufacturer on the market that offers medium-duty trucks with fuel cell electric drive as a series vehicle. But we absolutely have to get there. However, we do not need individual solutions or conversions, but a universally practicable concept. I am pleased that a project from Lower Saxony is making headway here and that we can support it with state funds."

Florian Brandau, Co-Founder and Managing Director of XPANSE Powertrain GmbH and CTO of Clean Logistics SE: "We are very pleased about the funding from the state of Lower Saxony. Our goal is to tackle the blind spot of zero-emission freight transport in medium-duty trucks as quickly as possible with series production-ready vehicles. What counts is speed and cost-effective solutions to close this gap as soon as possible. This is the only way to significantly reduce CO₂ emissions from road traffic, make a significant contribution to clean and liveable urban environments and take freight transport towards a green age."

As a development company for the creation of future-proof drive systems, XPANSE will be responsible for the technical architecture development and system definition and will manage the commissioning. CLT will take over prototype manufacturing and quality assurance and will be responsible for component sourcing.

About Clean Logistics

The listed company Clean Logistics SE (ISIN DE000A1YDAZ7) is an enabler and technology leader in the mobility transition of commercial vehicles. As a producer of zero-emission trucks and buses, the Hamburg-based company is leading its customers from the transport, logistics and heavy goods traffic sectors into an emission-free future. This is enabled through a complete decarbonization of the drive system of existing and new vehicles. The vehicles, which are equipped with fuel cell electric drive systems using hydrogen as an energy storage medium, are manufactured in the company's own production facilities. Clean Logistics is pursuing the goal of making its products sustainable along the entire value chain. By continuously upgrading its product portfolio, Clean Logistics SE sustainably strengthens the marketability of its innovative, safe and durable solutions.

Clean Logistics SE includes in addition to the Dutch truck manufacturer GINAF Trucks Nederland B.V., the subsidiaries E-Cap Mobility GmbH, XPANSE Powertrain GmbH and Clean Logistics Technology GmbH.

Contact at Clean Logistics:

Leonie Behrens

Trettaustraße 32

21107 Hamburg

Telephone: +49 (0)162 2054744

Email: press@cleanlogistics.de

Contacts for business and finance media:

edicto GmbH
Ralf Droz / Doron Kaufmann

Eschersheimer Landstraße 42
60322 Frankfurt am Main
Telephone: +49 (0)69 90550554
Email: ir@cleanlogistics.de