The parties will develop station equipment capable of refueling both compressed hydrogen and cryo-compressed hydrogen, enabling low cost, future-proofed refueling stations.

San Francisco, California & Whittier, California, July 1, 2024 — Cryostar and Verne
announced a Memorandum of Understanding to develop a full suite of cryo-compressed
hydrogen (CcH2) fueling solutions for heavy-duty station developers and heavy-duty fleets. The
two companies will jointly develop and demonstrate technology for “future-proofed” heavy-duty
hydrogen stations capable of dispensing both compressed hydrogen and CcH2.
While heavy-duty hydrogen trucks currently use compressed hydrogen (e.g. 350 bar, 700 bar),
industry participants expect to transition to cryogenic hydrogen storage methods (e.g. CcH2,
liquid hydrogen) to maximize vehicle range and minimize system weight. Cryostar and Verne
are developing a high flow cryopump compatible with both compressed hydrogen and CcH2,
allowing fuel stations to dispense compressed hydrogen today and to accommodate a transition
to CcH2 fueling in the future. The Cryostar and Verne solution is the lowest cost pathway for
future-proofed stations. Starting in 2025, the parties will begin demonstration tests and will
target high flow (10 kg/min) and high-density fueling solutions.
Heavy-duty transportation is responsible for 12% of U.S. greenhouse gas emissions, and
current zero-emission solutions do not meet the needs of heavy-duty vehicles. Battery electric
trucks provide limited range and add 5,000+ pounds to the weight of the truck, reducing the
payload available to haul cargo. Current hydrogen solutions offer an improvement over battery
electric trucks, but the limited hydrogen density of existing storage methods mean these trucks
still fall short of diesel-truck performance. CcH2 enables an 87% improvement in density relative
to 700 bar compressed gas hydrogen and a 33% improvement over liquid hydrogen, allowing
CcH2 trucks to achieve diesel-equivalent range and payload.
With more than 50 years of experience in the gas and cryogenics industry, Cryostar has
developed several liquid hydrogen pumps and hydrogen filling solutions for the hydrogen value
chain that can be seen across various markets (e.g. mobility, energy, marine). Several hundreds
of these LH2 pumps are already in use worldwide, allowing Cryostar to develop significant
expertise in H2 filling systems & processes and to become a key player in the cryogenic
hydrogen market.
Verne is a leading developer of cryo-compressed hydrogen systems, including storage tanks for
onboard CcH2 storage and refueling equipment that converts gaseous hydrogen into CcH2. In
2023, Verne demonstrated a world-record 29 kg storage tank at Lawrence Livermore National Laboratory,
equivalent to the tank size that would be used in heavy-duty trucking, and
completed drive testing of a CcH2 storage system onboard a vehicle. Verne recently announced
the first demonstration of CcH2 onboard a Class 8 Truck, set to take place in late 2024.
“It is becoming increasingly clear that CcH2 will be required to meet the energy and payload
requirements of the trucking industry,” said Ted McKlveen, Co-founder & CEO of Verne.

“Cryostar develops best-in-class cryogenic pump products and is the ideal partner for developing CcH2 fueling solutions.”

“Cryostar believes in the strong role of CcH2 in the decarbonization of the MD/HD transportation,” said Samuel Zouaghi, CEO of Cryostar. “Verne is leading the development of CcH2 tanks and has already collected CcH2 filling process expertise, making this collaboration a perfect fit”, he added.

Cryostar CEO Samuel Zouaghi (left) and Verne Co-founder & CEO Ted McKlveen (right)

About Cryostar

Founded in 1966, Cryostar develops and manufactures high-tech cryogenic equipment and services for major gas companies and is recognized as a world leader on its markets.

Thanks to more than 50 years of innovation and the expertise of its 1000 collaborators worldwide, Cryostar has developed a wide range of rotating machines and cryogenic solutions for medical, industrial gas, natural gas and hydrogen applications. Cryostar offers cryogenic pumps, LNG/LCNG fueling stations, air gases cylinders filling stations, turboexpanders, natural gas liquefaction units on ships, boil off gas compressors, and LNG vaporizers.

Placing proximity to its customers at the heart of its business, Cryostar brings local solutions to international challenges via its worldwide business centers and partners’ network. Cryostar has been part of the Linde group since 2006.

For more information, visit www.cryostar.com

Company contact: communication@cryostar.com

About Verne

Verne was founded in 2020 to develop high-density hydrogen storage solutions required to decarbonize heavy-duty transportation. Verne’s platform unlocks zero-emission operations in sectors including trucking, aviation, port vehicles, mining, and hydrogen distribution. Verne is financially supported by leading commercial entities, including Trucks Venture Capital, Collaborative Fund, Amazon’s Climate Pledge Fund, United Airlines Ventures Sustainable Flight Fund, Caterpillar VC, and Newlab. Verne is also supported by Breakthrough Energy Fellows, the Department of Energy’s ARPA-E, The U.S. Army, Alberta Innovates and other agencies. For more information, visit www.verneh2.com.

Company contact: contact@verneh2.com