Wolftank Group and Matrix Service sign cooperation agreement to offer mobile hydrogen refueling solutions in the USA

Press release                                                                                                        Innsbruck, 19 September 2023 

Wolftank Group and Matrix Service sign cooperation agreement to offer mobile hydrogen refueling solutions in the USA

• Wolftank provides technical know-how, Matrix Service provides fabrication and assembly 
• Wolftank is also named member of the California "Hydrogen Fuel Cell Partnership” 

Wolftank Group (Wolftank-Adisa Holding AG, ISIN: AT0000A25NJ6) announced today that it has signed a cooperation agreement with Matrix Service Inc. (Matrix Service), a subsidiary of Matrix Service Company (NASDAQ: MTRX), a top tier contractor to clients across the energy and industrial markets. The agreement brings Wolftank’s mobile hydrogen refueling solutions to the U.S. while extending Matrix Service’s work across the hydrogen value chain to include the Mobility sector, in addition to its previously well-established expertise in cryogenic storage tanks and terminals. In this context, the Wolftank Group will provide technical expertise and equipment, while Matrix will perform fabrication and assembly of Wolftank’s Hydrogen Smart Containers (HSC) used for dispensing hydrogen for passenger and commercial vehicles. Wolftank anticipates pursuing other areas such as hydrogen extraction from natural reserves.

The Wolftank Group also announced that the Hydrogen Fuel Cell Partnership (https://h2fcp.org/) in California has formally invited the Wolftank Group to join them as an Associate Member. Under the H2FCP’s umbrella, the primary players in the hydrogen mobility segment are gathered to work together on solutions in working groups and on specific projects.

“We look forward to working with Wolftank as they extend their reach into the U.S., and to leveraging our own strong brand and expertise in cryogenics to support another critical part of the overall hydrogen value chain beyond storage tanks and terminals,” said Matrix Service Company President and CEO John R. Hewitt.

"We are delighted to be working with Matrix and are convinced that local production will now enable us to roll out our solutions more broadly in the US market. Together, we want to expand the hydrogen infrastructure and realize innovative projects. Our participation in the Hydrogen Fuel Cell Partnership also makes an important contribution to this," says Wolftank CEO Peter Werth. The Wolftank Group established its local subsidiary in the United States, Wolftank USA, in the first quarter of 2023 and has been actively working on market development in recent months. 


About Wolftank Group
Wolftank Group is a leading technology partner for energy and environmental solutions operating worldwide. In the field of energy mobility and logistics, the Group supports customers in more than 20 countries to implement projects in an efficient and environmentally friendly way. For this, it develops and implements tomorrow's technologies to decarbonize transport and build the infrastructure for zero-emission mobility - such as turnkey delivery of modular hydrogen and LNG refueling facilities. In the area of environmental solutions, the offering includes due diligences for environmental risks, customized services for soil and groundwater remediation, as well as recycling. The group's subsidiaries in eight countries on three continents are managed by Wolftank-Adisa Holding AG, based in Innsbruck, Austria. The share of Wolftank-Adisa Holding AG (WKN: A2PBHR; ISIN: AT0000A25NJ6) is listed in the direct market plus segment of the Vienna Stock Exchange AG and in the m:access of the Munich Stock Exchange and is traded on Xetra, the Frankfurt and Berlin Stock Exchanges. Further information: www.wolftankgroup.com

About Matrix Service Company
Matrix Service Company (Nasdaq: MTRX), through its subsidiaries, is a leading North American industrial engineering, construction, and maintenance contractor headquartered in Tulsa, Oklahoma with offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea. The Company reports its financial results in three key operating segments: Utility and Power Infrastructure, Process and Industrial Facilities, and Storage and Terminal Solutions. With a focus on sustainability, building strong Environment, Social and Governance (ESG) practices, and living our core values, Matrix ranks among the Top Contractors by Engineering-News Record, has been recognized for its Board diversification, is an active signatory to CEO Action for Diversity and Inclusion, and is recognized as a Great Place to Work®. To learn more about Matrix Service Company, visit www.matrixservicecompany.com and read the Fiscal 2022 Sustainability Report.
 

Contact Wolftank Group:
Wolftank-Adisa Holding AG
phone: +43 (512) 345726
email: investor-relations@wolftankgroup.com 

Contact Matrix:
Matrix Service Company
Kellie Smythe
Senior Director, Investor Relations
phone: +1 918-359-8267
email: ksmythe@matrixservicecompany.com

Disclaimer:
This communication contains forward-looking statements based on current knowledge, expectations, and projections of Wolftank-Adisa Holding AG's management about the future. All statements are subject to potentially uncertain assumptions and risks that could cause actual results to differ materially from those expressed or implied by such statements. Such statements can be identified using words such as "expect", "plan", "anticipate", "target", "estimate", "assume" or similar. Consequently, statements relating to the future are only valid at the time they are made. The Company does not assume any obligation to adjust, correct or monitor statements made in this communication in the future.