Announcement • Feb 19
Haffner Energy Launches CORE100, an Industrial Program with over EUR 300 Million Target Sales over Three Years Haffner Energy announced the launch of CORE100, a reservation program for 100 standardized C-iC industrial units, representing a target business volume of over EUR 300 million over three years. This program is expected to enable Haffner Energy to achieve positive EBITDA in the fiscal year beginning April 1, 2026, with a target EBITDA margin of more than 10% as of the following fiscal year. The Company anticipates being able to announce the first reservations shortly, following the interest generated by the unveiling of the C-iC range last month. CORE100 is an industrial program designed to reduce CAPEX for midsize projects. It also aims to build a significant order book over three years, thereby strengthening multi-year visibility and realigning the Company with the commercial trajectory defined in 2024. CORE100 is independent of the remainder of the Company's pipeline and does not affect the development of ongoing strategic projects, particularly in the field of large-scale synthetic fuels production. In a context marked by reduced subsidies and an uncertain geopolitical environment, decentralized midsize projects face high CAPEX levels that are too high to ensure competitiveness and bankability. CORE100 was designed to remove this barrier. The program provides access to various types of equipment which, based on the same technology, can produce either 50 kg/h of hydrogen (400 tonnes per year) or 1,700 kWh of syngas for the production of methanol orethane, or in an alternative configuration, for the production of thermal energy. It is reserved for countries that comply with ISO standards, the metric system, and a 50 Hz electrical frequency (Europe, North Africa). CORE100 is based on the serial manufacturing of 100 standardized units, enabling: the complete pooling of research and development; extensive standardization of equipment; supplier negotiations based on guaranteed volumes; a significant reduction in execution risk. The combined effect of mass production and modularity enables: an estimated CAPEX reduction of more than 50% compared to a stand-alone unit - this CAPEX reduction is in addition to the economic benefits associated with modularity, as presented in the press release dated January 27, 2026; an additional reduction of 30% to 40% linked to the elimination of heavy civil engineering, representing an overall CAPEX reduction of 65% compared to individual projects; a reduction in completion times of four to six months compared to a stand- alone unit. Significantly reduced production costs: Under realistic economic assumptions1 and without subsidies, the Company's target cost levels2 are as follows: Renewable hydrogen: approximately EUR2.34/kg, compared with costs typically exceeding EUR7/kg for decentralized electrolysis projects; Thermal syngas: lower than the cost of energy produced by a conventional biomass boiler; Syngas for conversion: competitive for the production of biomethanol or biomethane compared to alternative solutions using large units. These costs reposition medium-sized projects on an economic basis comparable to projects with ten times the capacity, while offering greater flexibility. New Risk • Feb 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Revenue is less than US$1m (€457k revenue, or US$542k). Market cap is less than US$10m (€1.98m market cap, or US$2.35m). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Currently unprofitable and not forecast to become profitable over next 3 years (€4.4m net loss in 3 years). Announcement • Jan 27
Haffner Energy Launches the C-iC Modular Units Line to Unlock Financing for Mid-Sized Biofuel Projects Haffner Energy announced the launch of its new C-iC modular industrial units line, designed to address the financing and deployment challenges facing medium-scale, decentralized biofuel projects. By removing key economic barriers, this approach makes mid-sized projects financeable and enables their realization without reliance on subsidies. The C-iC line is built on Haffner Energy's H6 technology, unveiled in November 2025. Each unit is sized to produce 1,700 kW of renewable syngas for thermal applications or for further conversion into biomethane or biomethanol, or up to 50 kg per hour of renewable hydrogen (approximately 400 tonnes per year). The C-iC line are available in three configurations, all built on a highly standardized industrial platform: SYNOCA®? C-iC is dedicated to syngas production for industrial thermal and energy applications, serving as a direct alternative to biomass boilers. This configuration delivers more competitive thermal energy while significantly reducing CO2 emissions3 compared with the direct combustion of solid biomass. SYNOCA®?+ C-iC integrates syngas production modules whose composition and purity are compatible with conversion into biomethane and biomethanol4, while maintaining the same objective of economic competitiveness. HYNOCA®? C-C enables the production of renewable hydrogen for industrial or mobility applications at a levelized cost of hydrogen (LCOH)5 of less than EUR2.34/kg, with guaranteed purity levels in line with market standards. Like all technologies developed by Haffner Energy, the C-iC line is biomass-agnostic and offers a high tolerance for moisture content, up to 55%. This flexibility simplifies and secures feedstock supply, requiring approximately 3,200 tonnes of dry plant biomass per year. 