New Energies: Vallourec Opens the Doors of its Aulnoye-Aymeries Center to Investors

Shareholders and sell-side analysts spent an enriching day exploring the leading facilities at the Aulnoye-Aymeries technology center. The visit offered a detailed insight into Vallourec's strategy, highlighting the central role of technology in its business model and value proposition.

Thanks to its ONE R&D center in Aulnoye-Aymeries, Vallourec has developed cutting-edge expertise in forging, threading and Wire Additive Manufacturing. The visit was also an opportunity to present the latest technological advances in the field of new energies, in particular Delphy, its vertical hydrogen storage solution, a world first.

Since the inauguration of its proof of concept in 2023, Vallourec has seen growing meaningful customer interest in this system. The memorandums of understanding signed with H2V, a green hydrogen producer, and NEXTCHEM, a hydrogen and green ammonia technology company, are proof of this. The first commercial deployment of the system is expected for 2025.

With a current pipeline of approximately around 50 projects, the commercial momentum the Group is seeing reinforces the conviction that Vallourec will be able to generate 10-15% of its EBITDA from its New Energies segment by 2030. Products for the hydrogen, carbon capture, utilization and storage (CCUS) and geothermal industries are expected to drive this growth.

Many thanks to the teams at Aulnoye-Aymeries, whose expertise and talent enable Vallourec to play an essential role in the energy transition.

We are excited to present our facilities in Aulnoye-Aymeries to our shareholders, analysts and the broader financial community. When I joined Vallourec in 2022, I immediately realized the importance of our technological offering as an enabler of the Value over Volume strategy. With the expertise in this facility, we will continue to deliver unique solutions to our global Oil & Gas industry and increasingly serve our emerging New Energies customer base. The best recent example of our innovation is Delphy, our vertical hydrogen storage solution - the first of its kind in the world. With the commercial momentum we are seeing with this and our array of other solutions for New Energies markets, we reaffirm our objective of generating 10% to 15% of Group EBITDA from New Energies by 2030.

Philippe Guillemot

Chairman and CEO, Vallourec