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Hydrogen-Refueling-Solutions (HRS) lists on Euronext Growth Paris – Largest IPO on Euronext Growth Paris since the creation of the market segment



Paris  – 9 February 2021 – Euronext today congratulates Hydrogen-Refueling-Solutions, the French company specialising in hydrogen refuelling stations, on its listing on Euronext Growth Paris (ticker code: ALHRS).

Founded in 2004, Hydrogen-Refueling-Solutions (HRS) is a pioneer in hydrogen mobility. A European designer and manufacturer of hydrogen refuelling stations, the company has been committed to the decarbonisation of transport for over 10 years. The expansion of hydrogen mobility requires a large and rapid development of the network of refuelling stations, and the installed base in Europe is expected to reach 1,500 stations in 2025 and 3,700 in 2030.

HRS was listed on 9 February through the admission to trading of the 15,160,851 shares making up its equity, of which 3,343,695 new shares were issued under a Global Offering[1], excluding the over-allotment option.

The admission and issue price of HRS shares was set at €25.30 per share. Market capitalisation was €383.57   million on the day of listing. The offering raised €84.6 million altogether.

The offering was a resounding success with international institutional and individual investors. The public offering was oversubscribed 4.85 times and the open price offering was oversubscribed 12.34 times.

Hassen Rachedi, CEO and founder of HRS, said: “We are very pleased and proud of the tremendous enthusiasm surrounding our IPO and we would like to thank French and international institutional investors, as well as individual shareholders, for their confidence. Our IPO will enable us to accelerate our development and play a major role in the democratisation of hydrogen in transport. This raising of capital will support our ambition to play a key role in the European hydrogen industry.


Caption: Camille Leca, Euronext’s Chief Operating Officer Listing and Head of Listing in France, rang the bell during a virtual ceremony this morning with Philippe Bottu, Managing Director of HRS, Hassen Rachedi, CEO and founder of HRS, and Olivier Dhez, Business Development & Marketing Director of HRS, to celebrate the IPO of the company.

About HRS Created in 2004, Hydrogen-Refueling-Solutions (HRS), formerly TSM, is a pioneer in hydrogen mobility. As a European designer and manufacturer of hydrogen refuelling stations, the company has been committed for more than 10 years to the decarbonisation of transport. With its unique know-how and experience, HRS has developed a complete range of hydrogen refuelling stations that can be used by all types of fuel cell vehicles and that are perfectly adapted to the needs of a fast-growing European market.  At its site in Champ-sur-Drac, HRS has a production capacity that enables it to manufacture up to 60 units per year in record time, which can be as short as 8 weeks. In the 2019-2020 financial year, the Company generated sales of €2.6 million. At 31 December 2020, the Company had 34 employees. ISIN code: FR0014001PM5 - Mnemonic: ALHRS Find all the information about the company:


[1] The Global Offering was made up of a Public Offering that included an Open Price Public Offering and a Global Placement with institutional investors in France and other countries.

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