Paris, September 21, 2023 - 8 AM - Hopium (ALHPI - FR0014000U63) announces changes in its governance and the implementation of cost-reduction measures as part of its strategic reorganization.

As part of a consolidation of teams and a simplification of governance focused on the group's new operational priorities, Philippe Baudillon and Olivier Lombard have decided, in conjunction with Hopium's executive management, to resign from their respective roles as Deputy CEO and Assistant CEO.

Olivier Lombard also left his position on the Board to focus on other activities. However, he remains the primary reference shareholder of the Hopium group. Sylvain Laurent, CEO of Hopium, thanked Philippe Baudillon and Olivier Lombard for their dedication to the company, saying: "The Hopium project continues with downsized teams but just as much ambition. An ambition driven by its founder and that benefited from Philippe's experience. Our goal is now to promote a hydrogen fuel cell technology that perfectly aligns with the challenges of decarbonizing industrial sectors."

On the recommendation of Sylvain Laurent, the Board of Directors also approved the co-opting of Mr. Pascal Ghoson as a board member, replacing Mr. Alain Guillou. Pascal Ghoson spent part of his career at Lazard, Goldman Sachs, and Rothschild & Co serving French and International clients. He will bring his investment banking skills and entrepreneurial experience to the Board of Directors.

Pascal Ghoson, whose appointment will be submitted for approval at the next ordinary general meeting, thanked all members of the Board of Directors for their trust, stating: "I am pleased to be able to support Hopium in defining an industrial and financial strategy that allows it to showcase its technological expertise and continue its development."

Hopium continues to implement its cost-reduction plan, designed to support the strategic refocusing of its activities around its fuel cell system. The measures include lowering fixed costs and reducing payroll.

The Group will provide an update on its financial situation when it releases its semi-annual report.

From October 16 to 20, 2023, Hopium will attend GITEX, one of the largest tech expos held in Dubai. Spread across two sites and covering an exhibition space of 41 halls, the expo hosts both tech giants and groundbreaking startups in the fields of AI, cybersecurity, mobility, sustainable technology, and much more, alongside investors and government institutions.

Hopium will showcase its latest generation fuel cell system, which was initiated with the Machina project, as well as its various potential applications for the mobility markets, whether stationary, maritime, or aeronautical.

As a reminder, Hopium is currently finalizing the development of this fuel cell system up to prototype level TRL 6, which, before its commercial launch, will demonstrate its technological maturity in a representative environment.