Hoffmann Green Signs Its First Licensing Agreement in Saudi Arabia With the Shurfah Group

Hoffmann Green Cement Technologies (ISIN: FR0013451044, Mnemo: ALHGR) (Paris:ALHGR) ("Hoffmann Green Cement" or the "Company"), an industrial player committed to the decarbonation of the construction sector that designs and markets innovative clinker-free cements, announces the signature with the Shurfah Group of a 22-year exclusive licensing agreement in order to build several Hoffmann Green units in Saudi Arabia to support the decarbonation of the construction sector in this territory.

An exclusive 22-year licensing agreement to benefit from Hoffmann Green's clinker-free technologies and replicate a first plant based on H2 vertical model in Saudi Arabia

The Shurfah Group, a Saudi conglomerate with over 13,800 thousand housing units and more than 6 billion riyals of investments, has signed a 22-year licensing agreement to finance, build and operate Hoffmann Green production units. The agreement was also signed to market Hoffmann Green carbon-free cements exclusively throughout Saudi Arabia. A first clinker-free cement plant will be built in 2024 in Saudi Arabia, and it will be a replica of H2.

The engineering and production process will be carried out by IBAU Hamburg, the German general contractor with whom, as a reminder, Hoffmann Green signed an exclusive partnership agreement in June 2022 to support the construction of Hoffmann units worldwide. This and all subsequent vertical units will be built entirely with Hoffmann Green cement.

In return for the industrial and technological transfer and this exclusivity, Hoffmann Green will receive from Shurfah an entry fee and fixed and variable annual royalties based on sales generated by the marketing of Hoffmann cements in Saudi Arabia.

The aim is to support the ecological transition of the Saudi construction sector by setting up several vertical plants producing Hoffmann Green cement.

Beyond this first plant, the aim of this contract is to duplicate several H2 plants throughout Saudi Arabia. As part of its "Vision 2030" national plan for economic transformation, Saudi Arabia has made the ecological transition a development priority, particularly in the large and booming construction market driven by the numerous Smart Cities projects. Thanks to their future plants, Hoffmann Green and Shurfah aim to support the decarbonation of Saudi Arabia's construction sector and help the country to accelerate its trajectory towards carbon neutrality.

Julien BLANCHARD and David HOFFMANN, Co-founders of Hoffmann Green Cement Technologies, said: "Just few weeks after signing a pre-agreement, we have given concrete expression to our commitment by signing this licensing contract with Shurfah, a major player in the Saudi Arabian construction industry. After Switzerland and the United Kingdom, we are continuing our international deployment with the aim of supporting, through this new contract, the kingdom's ambitious "Vision 2030" project and participating in the decarbonization of their construction industry through the construction of several of our units on their territory and the marketing of our 0% cement clinker."

Abdullah Al Majed, Founder and Chairman of Shurfah Holding, specifies: "Saudi Arabia has announced that it is aiming for carbon neutrality by 2060. In order to meet its ecological ambitions, Shurfah is striving to contribute to the sustainable development of the Saudi economy and the realization of Vision 2030. In this context, we are proud to be associated with Hoffmann Green, which will enable us to build our future sites in a sustainable manner. The construction of the first vertical plant in 2024 is just the beginning before, we hope, the duplication of several units throughout the country."