De Nora signs the financing for Gigafactory Project

The Italian Ministry of Enterprises and Made in Italy and De Nora Italy Hydrogen Technologies S.r.l. ("DNIHT") have signed the decree granting DNHIT an amount of Euro 32,250,000.00 in the form of reimbursement of expenses incurred within the fund established by the Ministry for the financial support of the enterprises participating in the implementation of Important Projects of Common European Interest (IPCEI Fund).
The funding granted by the Ministry is aimed at the execution of the Italian Gigafactory project by DNHIT in joint venture with Snam S.p.A. DNHIT is a subsidiary of Industrie De Nora S.p.A., an Italian multinational company listed on Euronext Milan, which specializes in electrochemistry and is a leader in sustainable technologies and the emerging green hydrogen industry.

The amount granted by the Ministry is financed through PNRR resources – the National Recovery and Resilience Plan (PNRR M2C2- I5.2) - Mission 2 'Green Revolution and Ecological Transition', Component 2 'Renewable Energy, Hydrogen, Grid and Sustainable Mobility', Investment 5.2 'Hydrogen' under the ownership of the Ministry of Ecological Transition.
DNHIT is eligible to receive up to EUR 63,206,000 in public funding , following the additional resources which might become available in the framework of the support to the IPCEI Hydrogen.

"The awarding of this public funding is a tangible sign of the active collaboration between the Government and the industries aimed at providing concrete support to the national economy - said Paolo Dellachà, Chief Executive Officer of De Nora Group - We are very pleased to see that the administrative process has been accelerated and that the Italian Gigafactory project has been considered by the European Commission eligible to receive such a public financing. We hope to receive confirmation of the additional fundings for which DNHIT is eligible within the IPCEI Fund”.