ARNHEM – HyGear announced today that it has improved its governance structure by appointing new members in its Supervisory Board and Foundation for Depository Receipts.

Supervisory Board

Our supervisory board consists of three members appointed by major shareholders. As of January 1^st, we have appointed Mr Martin Adler as a new board member. Martin has extensive experience in engineering and contracting companies, especially in oil and gas. He started his career at Badger (Raytheon E&C), and held important positions, amongst others at Fluor and Dockwise (Boskalis). His most recent position was at SNC Lavelin where he was responsible for the global oil and gas division.

We are honoured that Martin has decided to join our supervisory board. His management experience and strategic insights will help us to explore new avenues and foster further growth.

Chairman of the Foundation for Depository Receipts (Stichting Administratiekantoor) HyGear:

The publicly tradable depository receipts are issued by STAK HyGear. Each depository receipt represents one ordinary share in the company’s equity, which makes STAK HyGear an important representative for NPEX investors.

HyGear’s management and shareholders prefer the interest of individual investors to be represented by an impartial person who is not related to management and other shareholders. Therefore, we are pleased to announce that Mr Vincent van Campen, one of the larger holders of the depository receipts at NPEX, has agreed to be installed as the Chairman of STAK HyGear. Vincent is a former CEO and owner of Avio-Diepen, a leading distributor in the commercial aviation with global presence, that was recently sold. Since then, he is mainly active in impact investments which has led him to invest in HyGear, from a vision that hydrogen can be the fuel of the future.

As Chairman of STAK HyGear, Vincent will be present at all board meetings and representing NPEX investors at shareholders’ meetings. As management team, we are happy with his commitment as he brings beneficial experience of building and growing a technology company to the mature stage.