Electric Hydrogen receives DNV validation after the respected independent engineering firm's comprehensive assessment of the company's HYPRPlant
Electric Hydrogen
, global manufacturer of high-power electrolyzer plants, announced today that DNV, the independent energy expert and assurance provider, has completed its comprehensive technical due diligence on Electric Hydrogen's HYPRPlant solution. DNV's report commends Electric Hydrogen's industry-leading advanced PEM technology performance and extensive testing capabilities to uncover unique failure modes. It also concludes that the HYPRPlant offering can be both highly reliable and 'highly competitive' on cost and current commercial guarantees. Electric Hydrogen's HYPRPlant is a fully integrated and prefabricated plant, powered by the company's proprietary advanced PEM technology, and is offered in 3 variants: 75 MW, 100 MW and 120 MW.
DNV's extensive review identified risks and assessed factors that may affect HYPRPlant's performance and reliability in the field, and opined on Electric Hydrogen's efforts to mitigate them. The review also assessed the company's ability to deliver and service the plants. The report includes DNV's detailed review of electrolyzer stack technology, plant design, performance, reliability, manufacturing, quality and the standard plant's product warranty and commercial assurances for the core technology.
The assessment included an on-site witnessing and technology validation at Electric Hydrogen's Pioneer demonstration plant in May of 2025 in San Jose, California, where the company tests its proprietary full-size commercial stack through rigorous cycling and extended duration tests over thousands of hours.
'The ability to deliver electrolytic hydrogen in such a power-dense and pre-engineered turnkey plant offering is a significant piece of the energy transition puzzle. Based on DNV's benchmarking of electrolyzer OEM offerings, [Electric Hydrogen]'s offering is very competitive and unique in the market,' says Richard S. Barnes, Region President, Energy Systems North America at DNV.
'Building powerful electrolyzer plants at low-cost and large scale is the singular purpose of Electric Hydrogen,' explains Raffi Garabedian, CEO and Co-founder of the company. 'We are honored that DNV, one of the most distinguished independent evaluation authorities, has validated and recognized our progress.'
Editor's note: Highlights from the report are available at
https://www.dnv.com/news/2025/dnv-validates-electric-hydrogens-hyprplant/
.
About DNV
DNV is an independent assurance and risk management provider, operating in more than 100 countries. Through its broad experience and deep expertise DNV advances safety and sustainable performance, sets industry standards, and inspires and invents solutions. DNV provides assurance to the entire energy value chain through its advisory, monitoring, verification, and certification services. As the world's leading resource of independent energy experts and technical advisors, the assurance provider helps industries and governments to navigate the many complex, interrelated transitions taking place globally and regionally, in the energy industry. DNV is committed to realizing the goals of the Paris Agreement and supports customers to transition faster to a deeply decarbonized energy system.
www.dnv.com
.
About Electric Hydrogen
Electric Hydrogen manufactures, delivers and commissions the world's most powerful electrolyzers to make clean hydrogen projects economically viable today. The company's complete HYPRPlant solution, available between 75-120MW, includes all system components required to turn water and electricity into the lowest cost clean hydrogen using its proprietary advanced proton exchange membrane (PEM) technology. Electric Hydrogen has a team of more than 300 people in the United States and Europe. The company was founded in 2020 and is headquartered in Devens, Massachusetts. To learn more about how critical industries leverage Electric Hydrogen's HYPRPlant to achieve their decarbonization and energy security objectives, visit
https://eh2.com/
.
Contact
V2 Communications for Electric Hydrogen
electrichydrogen@v2comms.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/755edc19-24ac-4ca7-a0ea-5a347a967e62
https://www.globenewswire.com/NewsRoom/AttachmentNg/48ef2a20-12df-4f0d-b94f-d77503864854
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
2 hours ago
- Business Upturn
Basilea initiates phase 3 study with antifungal fosmanogepix in invasive mold infections
By GlobeNewswire Published on July 29, 2025, 10:15 IST Study to evaluate the efficacy and safety of fosmanogepix in adults with invasive mold infections Study completion expected in Q1 2028 Allschwil, Switzerland, July 29, 2025 Basilea Pharmaceutica Ltd, Allschwil (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, announced today the initiation of FORWARD-IM, a phase 3 registrational study evaluating the efficacy and safety of its broad-spectrum antifungal fosmanogepix for the treatment of adult patients with invasive mold infections.[1] Fosmanogepix is a first-in-class antifungal with a novel mechanism of action and is available in both intravenous and oral formulations. It has been evaluated for efficacy and safety in a phase 1 and phase 2 program, including three open-label phase 2 studies for the treatment of Candidemia, including Candida auris , and invasive mold infections.[2, 3, 4, 5, 6] The FORWARD-IM study is the second phase 3 study for fosmanogepix, following the initiation of FAST-IC in September 2024, a randomized, double-blind phase 3 registrational study in adult patients with candidemia and/or invasive candidiasis.[7] Dr. Marc Engelhardt, Chief Medical Officer of Basilea, said: 'Our phase 3 program with fosmanogepix allows us to fully explore the clinical benefit of this important new treatment option for invasive fungal infections. Its broad-spectrum activity against multidrug-resistant molds and yeasts highlights the unique potential of fosmanogepix to address significant gaps in current antifungal therapies. Fosmanogepix has shown promising efficacy in earlier clinical studies and in the ongoing expanded access program. The initiation of our second phase 3 study is a significant milestone for fosmanogepix and demonstrates our commitment to advancing our innovative pipeline for the benefit of patients.' FORWARD-IM is an interventional, open-label, two-cohort phase 3 study in adult patients with invasive mold infections caused by Aspergillus spp., Fusarium spp., Lomentospora prolificans , Mucorales fungi, or other multidrug-resistant molds. The first cohort will enroll approximately 160 patients, randomized in a 2:1 ratio to receive either fosmanogepix or current standard-of-care therapy. The second cohort will enroll approximately 60 patients who have developed intolerance, toxicities, lack of clinical response, or whose fungal isolate is resistant to standard-of-care therapy. All patients in the second cohort will receive fosmanogepix. The completion of the study and publication of results are expected in 2028. The Swiss-based global company PSI CRO AG is managing the phase 3 program. Basilea acquired fosmanogepix from Amplyx Pharmaceuticals, Inc., an affiliate of Pfizer Inc. Pfizer retains a right of first negotiation for commercializing fosmanogepix, once phase 3 development is successfully completed. This project is funded in part with federal funds from the U.S. Department of Health and Human Services (HHS); Administration of Strategic Preparedness and Response (ASPR); Biomedical Advanced Research and Development Authority (BARDA), under OT number: 75A50124C00033. The contract and federal funding are not an endorsement of the study results, product, or company. About fosmanogepix Fosmanogepix is a clinical-stage broad-spectrum antifungal. It has a novel mechanism of action and its active moiety has shown activity against common species of Candida and Aspergillus , including multi-drug-resistant strains, such as Candida auris and Candida glabrata , as well as rare difficult-to-treat molds including Fusarium spp., Lomentospora prolificans , Scedosporium spp., and some fungi from the Mucorales order.[2] Fosmanogepix intravenous and oral formulations have been evaluated in phase 2 studies for the treatment of patients with Candidemia, including Candida auris , and invasive mold infections.[4, 5, 6] Fosmanogepix has received Fast Track and Orphan Drug designations from the US Food and Drug Administration (FDA) for seven separate indications, and is designated as a Qualified Infectious Disease Product (QIDP). About invasive mold infections Invasive aspergillosis and invasive infections with rare molds (e.g., Fusarium spp., Lomentospora prolificans , Scedosporium spp., and Mucorales fungi) are life-threatening infections that predominantly affect immunocompromised patients, including patients with hematologic malignancies (blood cancer), transplant patients, or patients with other immunodeficiency disorders. These infections are associated with high morbidity and mortality.[8, 9] About invasive candidiasis Invasive candidiasis, including deep-seated tissue candidiasis and candidemia, is an increasingly important nosocomial infection, especially in patients hospitalized in intensive care units. Candida species are ranked as the fourth main cause of bloodstream infections in hospitals in the US.[10] The prognosis of invasive candidiasis remains unfavorable, with a reported mortality rate as high as 40%, even when patients receive antifungal therapy.[11] About Basilea Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial and fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have preclinical and clinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit Disclaimer This communication expressly or implicitly contains certain forward-looking statements, such as 'believe', 'assume', 'expect', 'forecast', 'project', 'may', 'could', 'might', 'will' or similar expressions concerning Basilea Pharmaceutica Ltd, Allschwil and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd, Allschwil to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd, Allschwil is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. For further information, please contact: This press release can be downloaded from References FORWARD-IM (FOsmanogepix study Run Worldwide as Antifungal treatment in Resistant Disease caused by Invasive Molds): identifier: NCT06925321 K. J. Shaw, A. S. Ibrahim. Fosmanogepix: A Review of the First-in-Class Broad Spectrum Agent for the Treatment of Invasive Fungal Infections. Journal of Fungi (Basel) 2020 (6), 239 M. R. Hodges, E. Ople, P. Wedel et al. Safety and Pharmacokinetics of Intravenous and Oral Fosmanogepix, a First-in-Class Antifungal Agent, in Healthy Volunteers. Antimicrobial Agents and Chemotherapy 2023 (67), e01623-22 J. A. Vazquez, P. G. Pappas, K. Boffard et al. Clinical Efficacy and Safety of a Novel Antifungal, Fosmanogepix, in Patients with Candidemia Caused by Candida auris: Results from a Phase 2 Trial. Antimicrobial Agents and Chemotherapy2023 (67), e01419-22 P. G. Pappas, J. A. Vazquez, I. Oren et al. Clinical safety and efficacy of novel antifungal, fosmanogepix, for the treatment of candidaemia: results from a Phase 2 trial. Journal of Antimicrobial Chemotherapy 2023 (78), 2471-2480 M.R. Hodges, M. Tawadrous, O.A. Cornely et al. Fosmanogepix for the Treatment of Invasive Mold Diseases Caused by Aspergillus Species and Rare Molds: A Phase 2, Open-Label Study (AEGIS). Clinical Infectious Diseases 2025 Apr 9:ciaf185 FAST-IC (Fosmanogepix Against Standard-of-care Treatment in Invasive Candidiasis): identifier: NCT05421858 J. Cadena, G. R. Thompson 3rd, T. F. Patterson. Aspergillosis: Epidemiology, Diagnosis, and Treatment. Infectious Disease Clinics of North America 2021 (35), 415-434 M. Slavin, S. van Hal, T. C. Sorrell et al. Invasive infections due to filamentous fungi other than Aspergillus: epidemiology and determinants of mortality. Clinical Microbiology and Infection 2015 (21), 490.e1-490.e10 Candidemia (Blood Infection) and Other Candida Infections. 2019 Factsheet by the American Thoracic Society: (Accessed: July 28, 2025) B. J. Kullberg, M. C. Arendrup. Invasive Candidiasis. The New England Journal of Medicine 2015 (373), 1445-1456 Attachment Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Upturn
2 hours ago
- Business Upturn
Philips builds strong order intake momentum and drives margin expansion in Q2
By GlobeNewswire Published on July 29, 2025, 10:00 IST July 29, 2025 Q2 2025 Group Highlights Comparable order intake growth 6% Group sales EUR 4.3 billion, reflecting 1% increase in comparable sales Income from operations EUR 400 million Adjusted EBITA margin increased 130 bps to 12.4% of sales Free cash flow increased to EUR 230 million Philips increases full year 2025 outlook for Adjusted EBITA margin and free cash flow; reiterates comparable sales growth outlook Roy Jakobs, CEO of Royal Philips: 'We are focused on driving profitable growth and delivering better care for more people. We built order intake growth momentum, supported by our recently launched AI-powered innovations. Our multi-year agreement with the Indonesian Ministry of Health reinforces the impact for patients of our industry-leading innovations as we provide nationwide coverage for image-guided therapy, expanding access to cardiac, stroke and cancer care for millions. Sales improved, including accelerated Personal Health sales growth, and we delivered margin expansion through innovation and productivity. We are strengthening our fundamentals through the hard work of our employees around the world. Our focus on innovation and strong execution is driving impact as we continue to put patient safety and quality as our number one priority. We did what we said we would do in the first half of the year and remain on track. We increase our full year outlook for margin and free cash flow, including currently announced tariff levels, and we reiterate our comparable sales growth outlook as we continue to build order and sales momentum.' Group and segment performance Comparable order intake growth sequentially improved to 6%, fueled by innovation and strengthening fundamentals, on the back of 9% growth in Q2 2024. Group comparable sales increased 1%. Adjusted EBITA margin increased by 130 basis points to 12.4%, driven by higher gross margin from innovation, product mix and productivity measures that more than offset the initial impact of increased tariffs and currency headwinds. Free cash flow increased to EUR 230 million. Diagnosis & Treatment comparable sales decreased by 1%. Adjusted EBITA margin improved by 130 basis points to 13.5%, mainly driven by gross margin improvement due to recently launched innovations, mix effects and productivity. Connected Care comparable sales decreased by 1%. Adjusted EBITA margin improved by 160 basis points to 10.4%, mainly driven by innovation, and productivity measures. Personal Health comparable sales increased 6% with growth across most geographies, more than offsetting a decline in China. Adjusted EBITA margin declined by 170 bps to 15.2%, mainly attributable to investment in advertising and promotions. Innovation highlights Philips signed a long-term partnership with Indonesia's Ministry of Health to deliver nationwide coverage of its advanced Azurion image-guided therapy system, expanding access to cardiac, stroke and cancer care to more than 280 million people across all 38 provinces. Philips continued to strengthen its AI leadership in MR with FDA 510(k) clearance for its SmartSpeed Precise MR software with Integrated Dual AI. SmartSpeed Precise is the industry's first integrated dual AI solution, delivering up to 3x faster scans and 80% sharper images with one click. Philips signed large monitoring partnerships with integrated delivery networks and health systems in the US and Europe, including long-term partnerships with customers such as the Rush University System for Health in the Midwest of the US. Philips' monitoring partnerships help clinicians deliver better care through the AI-powered virtual Patient Information Center iX (PIC iX) and IntelliVue patient monitors. Philips delivered Spectral CT 7500 and CT 5300 systems to University Health San Antonio. These clinically proven systems offer fast, low-dose, AI-enabled scans for one of Texas' largest public health systems, enabling them to deliver faster, more efficient workflows. Philips launched the Flash Ultrasound System 5100 POC, built for speed, precision, and ease of use in urgent point-of-care settings. Philips launched the i9000 electric shaver range, powered by AI and tailored to user preferences. During China's 618 festival, Philips ranked No. 1 on in male grooming sales and in the electric toothbrush category. Philips launched the RADIQAL clinical trial across multiple hospitals. This study will test the effectiveness of its new ultra-low dose technology, SmartIQ, in reducing radiation without impacting coronary procedure performance. Productivity Disciplined cost management and robust productivity initiatives delivered savings of EUR 197 million in the quarter. Philips is on track to deliver on its three-year, EUR 2.5 billion productivity program, including EUR 800 million productivity savings in 2025. Outlook Philips updates its outlook, including currently announced tariff impact, which has evolved and continues to be dynamic: Comparable sales growth range reiterated at 1%-3% with sequential improvement as the year progresses. Adjusted EBITA margin range increased to 11.3%-11.8%, a 50 bps increase versus our previous outlook. This includes an estimated tariff impact of EUR 150-200 million after substantial mitigations, compared to EUR 250-300 million previously; Adjusted EBITA margin in Q3 expected to be lower than in 2024 primarily due to tariff impact phasing. Free cash flow increased to EUR 0.2 billion – EUR 0.4 billion for the full year (including the payout in the first quarter of 2025 of EUR 1,025 million Philips Respironics recall-related medical monitoring and personal injury settlements in the US). This outlook excludes ongoing Philips Respironics-related proceedings, including the investigation by the US Department of Justice. Capital Allocation Philips completed its dividend distribution for 2024 in the second quarter of 2025. As approved by the Annual General Meeting of Shareholders on May 8, 2025, a dividend of EUR 0.85 per common share was paid in cash or shares at the election of the shareholder, with 41.4% paid in cash. Click here to view the release online For further information, please contact: Michael FuchsPhilips Global External RelationsTel.: +31 6 1486 9261 E-mail: [email protected] Dorin DanuPhilips Investor RelationsTel.: +31 20 59 77055 E-mail: [email protected] About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,300 employees with sales and services in more than 100 countries. News about Philips can be found at Forward-looking statements and other important information Forward-looking statements This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future Adjusted EBITA*, future restructuring and acquisition-related charges and other costs, future developments in Philips' organic business and the completion of acquisitions and divestments. Forward-looking statements can be identified generally as those containing words such as 'anticipates', 'assumes', 'believes', 'estimates', 'expects', 'should', 'will', 'will likely result', 'forecast', 'outlook', 'projects', 'may' or similar expressions. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, macro-economic and geopolitical changes – including the war in Ukraine and ongoing conflicts in Israel and the Middle East – as well as measures such as announced and proposed tariffs and trade actions introduced in response to rising global tensions; Philips' ability to keep pace with the changing health technology environment; Philips' ability to gain leadership in health informatics and artificial intelligence in response to developments in the health technology industry; integration of acquisitions and their delivery on business plans and value creation expectations; ability to meet expectations with respect to ESG-related matters; securing and maintaining Philips' intellectual property rights, and unauthorized use of third-party intellectual property rights; failure of products and services to meet quality or security standards, adversely affecting patient safety and customer operations; the resilience of our supply chain; challenges in simplifying our organization and our ways of working; attracting and retaining personnel; breach of cybersecurity; challenges in driving operational excellence and speed in bringing innovations to market; treasury and financing risks; tax risks; reliability of internal controls; compliance with regulations and standards involving quality, product safety, (cyber) security and artificial intelligence; and compliance with business conduct rules and regulations including privacy, existing and upcoming ESG disclosure and due diligence requirements. As a result, Philips' actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Further information chapter included in the Annual Report 2024. Third-party market share data Statements regarding market share contained in this document, including those regarding Philips' competitive position, are based on outside sources such as specialized research institutes, as well as industry and dealer panels, in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management's estimates of rankings are based on order intake or sales, depending on the business. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Use of non-IFRS information In presenting and discussing the Philips Group's financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2024. Presentation All amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2024. Per share calculations for all periods presented have been retrospectively adjusted to reflect the issuance of shares in 2025 with respect to the share dividend for 2024. *) Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Upturn
2 hours ago
- Business Upturn
Shanghai Cooperation Organization Media and Think Tank Summit Guests' Mianchi Tour: Experiencing the Charm of Yangshao Culture
By GlobeNewswire Published on July 29, 2025, 10:01 IST SANMENXIA, China, July 29, 2025 (GLOBE NEWSWIRE) — From July 23 to July 27, the Shanghai Cooperation Organization Media and Think Tank Summit is being held in Zhengzhou City, Henan Province. On July 23, 19 guests from SCO member states traveled to Mianchi County, Sanmenxia City, where they visited distinctive sites such as Henan Xianmen Mountain Scenic Area, Yangshao Culture Museum, Henan Yangshao Liquor Co., Ltd., and Yangshao Ecological Winemaking Park. Through this immersive experience, they gained insight into the time-honored legacy and modern innovations of Yangshao culture. A Media Snippet accompanying this announcement is available by clicking on this link. Henan Yangshao Liquor Co., Ltd. is a benchmark enterprise for baijiu in Henan Province and a leading player in China's baijiu industry. To better preserve and promote Yangshao Culture and Chinese drinking culture, the company has developed 'Yangshao Winery: One Winery with Five Gardens'. Yangshao Caitaofang is a flagship product of the company. The bottle design takes inspiration from national treasures such as the 'small-mouthed pointed-bottomed bottle' and 'fish-patterned gourd bottle'. It represents the 13th distinct aroma category in Chinese baijiu. Moreover, Yangshao Caitaofang has been exported to 17 countries, including the UK, the Philippines, Laos, Kenya, and Indonesia. It serves as a messenger, spreading Yangshao Culture overseas and sharing the unique flavors of China. Source: Henan Yangshao Liquor Co., Ltd Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
