AccaGen, the Swiss energy technology company recently acquired by Morphic, has received an order for a 250 kW electrolyzer from India’s largest iron ore producer, National Mineral Development Company of India, NMDC. The order is worth €350,000 and delivery will take place in August 2008.

The 250 kW facility could lead to a follow-up order for a six times larger electrolyzer for a planned production plant. AccaGen was established in 2003 and has since achieved a leading position in technology for the storing energy from renewable energy sources such as solar, wind and wave power and biogas. The company’s core offer consists of a range of patented high-efficiency electrolyzers for separating water into hydrogen and oxygen. The hydrogen can then be used to fuel Morphic’s fuel-cell-powered system and other energy systems.

In recent years AccaGen has been focusing on developing the electrolyzer into a standardized product adapted for major industrial and energy-related customers. AccaGen’s major global returning customers include Linde, ESCOM (the state-owned South African energy company) and PDVSA (a state-owned oil company in Venezuela).
In December 2007 AccaGen was acquired by Morphic Technologies AB’s subsidiary, MBD AB.

For further information, please contact:
Johannes Falk, Director of Investor Relations, Morphic Technologies AB
Tel: +46 70 676 7393, e-mail: [email protected]