Hopium and Normandy region strengthen their relationship with a €2 million loan



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Paris, February 24, 2023 - Hopium and the Normandy Region are pleased to have solidified their partnership with €2 million in aid from the Region to the start-up.

After several months of exchanges between Hopium and the Region, particularly regarding the deployment project of an industrial site near Vernon in Normandy, the exceptional Permanent Commission of the Normandy Region today voted to allocate a €2 million aid to Hopium.

This aid, in the form of an interest-free loan repayable after 18 months, is intended to accelerate Hopium's R&D projects, particularly its hydrogen fuel cell, to compete in a highly competitive international market.

Sylvain Laurent, CEO of Hopium, said:

"This is great news for deploying our R&D strategy. This aid will allow us to increase our investments. In addition, it will enable our teams to accelerate tomorrow so that our hydrogen fuel cell can be completed before the end of 2023."

Philippe Baudillon, Deputy CEO of Hopium, added:

"We would like to thank the Normandy Region for supporting us for many months. This support gives an additional boost to Hopium to achieve its goals. We are delighted to be able to count on the Normandy Region in our development and participate in the Normandy Hydrogen Plan, which we consider a major future project."

Thanks to this aid, Hopium intends to consolidate its technological lead over its competitors and accelerate its R&D strategy.

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