New Energies, new possibilities

Production of AEM stacks has started at the new production partner in Shenzhen, first
units ready for delivery
▪ Scalable production capacity allows flexible adjustment to demand development
▪ Positive effects of lower fixed costs on earnings development expected from 2027
Hamburg, 19 August 2026. Enapter AG (ISIN: DE000A255G02) is consistently implementing the
realignment towards an asset-light business model announced in the ad-hoc release of 5 August
2026. At the new production partner Runqing Hydrogen Technology Co., Ltd. (Runqing) in Shenzhen,
the manufacturing of AEM stacks has started on a production line set up specifically for this purpose.
The first stacks for Enapter electrolysers in the megawatt range have already been assembled and
are ready for delivery. Once the current ramp-up phase has been completed, the intended
production output is expected to be reached within a few weeks. The available capacity allows
manufacturing to be scaled flexibly in line with the demand Enapter expects.
Runqing is part of the Runshihua Group, one of China’s leading cleantech companies. The group has
comprehensive hydrogen expertise and has established itself as an innovative specialist for the
decarbonisation of industry. Drawing on the group’s state-of-the-art, fully automated production
facilities, Runqing is able to manufacture Enapter’s stacks to the required quality and in volumes that
can be scaled as needed.
By expanding partner manufacturing in China, Enapter is reducing its fixed costs. The company
expects the lower fixed cost base to have a noticeable positive effect on earnings development from
2027.
Dr Jürgen Laakmann, CEO of Enapter AG: “The production start in Shenzhen is an important
milestone in the implementation of our asset-light business model. Together with our partner
Runshihua, we have created the conditions for scalable series production in a short space of time.
Thanks to the modern production facilities, we will be able to manufacture the AEM stack, the core
component of our electrolysers, cost-efficiently, reliably and in high volumes. This enables us to
respond flexibly to rising market demand and to supply our customers quickly and dependably.”
About Enapter
Enapter is a global greentech company that develops and supplies AEM electrolysers for the
production of green hydrogen. The Enapter Group combines development and manufacturing
expertise with international production partnerships.
The patented anion exchange membrane (AEM) technology does not rely on expensive and rare raw
materials such as iridium and, thanks to its modular design, enables the efficient and scalable
production of green hydrogen, including where the energy supply from solar and wind power fluctuations.

Thousands of Enapter AEM electrolysers are already in use at more than 360 customers in over 55
countries.
Enapter AG (H2O) is listed in the regulated market of the Frankfurt and Hamburg stock exchanges
(ISIN: DE000A255G02).
Further information:
Website: https://www.enapter.com
LinkedIn: https://www.linkedin.com/company/enapter
Press contact:
Ralf Droz / Doron Kaufmann
edicto GmbH
Phone: +49 (0) 69 90 55 05-54
Email: enapter@edicto.de