GAUSSIN and Hydrogen Refueling Solutions Form Strategic Partnership

1 October 2021

GAUSSIN , pioneer of clean and smart freight transport, and Hydrogen-Refueling-Solutions (HRS) (EURONEXT GROWTH ALHRS FR0014001PM5), European designer and manufacturer of hydrogen refueling stations, announced the signing today of a term sheet to implement an exclusive partnership. As part of this partnership, HRS will supply 36 hydrogen stations between 2021 and 2026 in the European Union. The agreement is intended to support the rollout of GAUSSIN’s turnkey hydrogen mobility solutions for on-road and off-road applications.

As part of the agreement, HRS is investing €7 million in newly issued shares of GAUSSIN at the unit subscription price of €6.20 per share.


The integration of HRS into GAUSSIN’s hydrogen ecosystem and the contribution of its station expertise, a key component of the value chain, will capitalize on the strengths of each partner, enabling the offer of a comprehensive, low-carbon mobility solution, helping to accelerate the adoption of hydrogen fuel, which is perfectly suited to GAUSSIN’s heavy vehicle applications.

The details of the partnership include the development of a turnkey solution marketed by GAUSSIN, comprising zero-emission vehicles for multiple uses (airports, logistics, ports, Smart Cities, roads) resulting from technological innovations in its research and development center, and the latest-generation HRS hydrogen refueling station. The stations will be manufactured on the HRS site in the Grenobloise metropolitan area.

As part of this exclusive partnership, HRS will supply a minimum of 36 hydrogen stations to GAUSSIN or its customers over a period of five years, optionally supported by a new leasing solution established with BNP PARIBAS Leasing Solutions. The agreement provides for a gradual ramp-up beginning with the delivery of four 200 kg/day stations in 2021/2022, starting with two 30 days after HRS has invested in newly issued GAUSSIN shares.


HRS will also subscribe to a capital increase of GAUSSIN, of €7 million (€6.20 per share). The partnership between the two companies is aimed at facilitating a joint approach to the development of the hydrogen sector in Europe, with heavy mobility set to play a major role in the coming months.

“HRS’s expertise and its international reputation in the field of hydrogen stations makes us confident in our ability to deliver robust and reliable solutions while simplifying our value proposition for our customers with a turnkey solution integrating the production and distribution of hydrogen, in addition to GAUSSIN vehicles, together with all the associated services,” said Christophe Gaussin, Chairman and CEO of GAUSSIN.

“This is a historic agreement for the deployment of hydrogen in Europe. Our new partnership, spanning both commercial aspects and investment, with a player as dynamic and ambitious as GAUSSIN, will allow progress in the structuring of the sector and help accelerate the rollout of our hydrogen mobility solutions. Large-scale projects are emerging, thanks in large part to support from numerous European stimulus plans. Our new partnership will allow the first comprehensive turnkey offer to satisfy this massive demand through joint innovation from our two groups,” added Hassen Rachedi, Founder and Chairman and CEO of HRS.


GAUSSIN is an engineering company that designs, assembles and sells innovative products and services in the transport and logistics field. Its know-how encompasses cargo and passenger transport, autonomous technologies allowing for self-driving solutions such as Automotive Guided Vehicles, and the integration all types of batteries, electric and hydrogen fuel cells in particular. With more than 50,000 vehicles worldwide, GAUSSIN enjoys a strong reputation in four fast-expanding markets: port terminals, airports, logistics and people mobility. The group has developed strategic partnerships with major global players in order to accelerate its commercial penetration: Siemens Postal, Parcel & Airport Logistics in the airport field, Bolloré Ports and ST Engineering in ports and Bluebus for people mobility. GAUSSIN has broadened its business model with the signing of license agreements accelerating the diffusion of its technology throughout the world. The acquisition of METALLIANCE confirms the emergence of an international group present in all segments of intelligent and clean vehicles.

In October 2019, the group won the World Autonomous Vehicle Transport Competition "Category leader" - "Better energy and environmental sustainability".

GAUSSIN has been listed on Euronext Growth in Paris since 2010 (EURONEXT GROWTH - FR0013495298).

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Founded in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is pioneer in hydrogen mobility. European designer and manufacturer of hydrogen refuelling stations, for over ten years, the Company has been committed to reducing transport emissions.

Thanks to its unique experience and know-how, HRS has developed a complete range of hydrogen refuelling stations for all types of fuel cell vehicles that is perfectly suited to the needs of a fast-growing European market. At its Champ-sur-Drac site, HRS has mass production capacities that enable it to assemble up to 60 units per year in record time, in as little as 8 weeks. A new 14,300m2 production unit, planned for the fall of 2022, near Grenoble in Champagnier (Isère), will increase HRS's production capacity to 180 stations per year.

The Company posted 2019-2020 revenue of €10.5 million. As of June 30, 2021, the company had 41 employees. (ISIN code: FR0014001PM5 - ticker symbol: ALHRS).

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