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- Green hydrogen industry leader Denis Krude named President and CEO of Hydrogen Optimized

Former thyssenkrupp nucera CEO led development of gigawatt-scale water electrolysis businessAndrew Stuart, co-founder of the company, will continue to play an active role as executive chairman

OWEN SOUND, ON, Feb. 21, 2024 /PRNewswire/ -- Hydrogen Optimized Inc, a subsidiary of Key DH Technologies Inc. (KEY), today announced that Denis Krude, former CEO of green hydrogen technology company thyssenkrupp nucera , will be named President and CEO effective April 8, 2024. Company co-founder Andrew Stuart will continue to play an active leadership role in Hydrogen Optimized as Executive Chairman.

"I am delighted that Denis has decided to join the Hydrogen Optimized team as CEO as we enter an exciting new phase of our company's business development," said Andrew Stuart, Founding Chairman and CEO of Hydrogen Optimized. "With proven executive experience in the sale and deployment of green hydrogen production plants, Denis is uniquely positioned to lead our company in the emerging large-scale clean hydrogen technology market. In my next role as CEO, I look forward to supporting Denis and continuing to support the Hydrogen Optimized team along with our customers, investors and other stakeholders.”

Krude joined the thyssenkrupp group, one of Germany's largest industrial companies, in 1998. At thyssenkrupp Uhde, a chemical plant manufacturer, he held a series of management positions of progressive responsibility. From 2016 to 2023, he was CEO and member of the board of directors of thyssenkrupp nucera, a leading plant technology and engineering company specializing in water electrolysis and green hydrogen. Among his accomplishments there, in 2021-2022 Krude and his team prepared the company for an IPO, leading investor meetings and other activities that laid the groundwork for its successful public listing in 2023.

"Hydrogen Optimized's unique focus on large-scale water electrolysis solutions for important and hard-to-leave industries is consistent with my view that this market segment offers the most significant opportunity in clean hydrogen," explained Denis Krude. "With a strong foundation built on the Stuart family's 120-year legacy in high-power water electrolysis, I see enormous opportunities for Hydrogen Optimized to become a global leader in clean hydrogen."

Krude added: "I am impressed by the culture of the Hydrogen Optimized team and the tremendous progress they have made in advancing the company's RuggedCell™ water electrolysis technology, manufacturing capabilities and market presence. I look forward to working closely with Andrew and the Owen Sound team to realize the company's enormous potential."

Known for his innovative and strategic approach to leadership in international large-scale plant engineering and EPC (engineering, procurement and construction) projects, Krude has successfully led multicultural and cross-functional teams in various locations around the world, emphasizing the values performance and leadership. His experience spans the entire plant engineering value chain, including business development, sales, product management, project execution and after-sales service. He has a track record of restructuring and improving business areas, as well as rapidly expanding supply chains and workforces during periods of strong growth.

Krude, a 54-year-old German, was born in Spain. He completed part of his schooling in Brazil, completed high school and military service in Germany, and in 1995 obtained a master's degree in Electrical Engineering and Information Technology from the RWTH University of Aachen, one of the most prestigious technical universities in Germany.

Acerca de Hydrogen Optimized

Hydrogen Optimized Inc, a subsidiary of Key DH Technologies Inc (KEY), is a privately held hydrogen technology company that develops and markets large-scale water electrolyzers for the world's largest clean hydrogen projects. The company's patented RuggedCell™ system enables clean hydrogen plants to be built at scale up to gigawatts. The RuggedCell™ is a high power alkaline water electrolyzer free of precious metals with a dynamic range of 0-100%. Through a strategic relationship with ABB, an investor in KEY, Hydrogen Optimized has strengthened the RuggedCell™ offering through access to ABB's world-leading power and automation technologies. For more information about Hydrogen Optimized, visit www.hydrogenoptimized.com.

Don Hogarth, phone: 416-565-8920, email: don.hogarth@hydrogenoptimized.com

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