Green Hydrogen Industry Leader Denis Krude Appointed President & CEO of Hydrogen Optimized

Former thyssenkrupp nucera CEO led development of gigawatt-scale water electrolysis business
Company Co-Founder Andrew Stuart to continue his active role as Executive Chair

OWEN SOUND, ON, Feb. 21, 2024 /PRNewswire/ -- Hydrogen Optimized Inc., a subsidiary of Key DH Technologies Inc. (KEY), today announced that Denis Krude, former CEO of green hydrogen technology company thyssenkrupp nucera, will be appointed President and CEO starting April 8, 2024. Company Co-Founder Andrew Stuart will continue to play an active leadership role at Hydrogen Optimized as Executive Chair.

"I am delighted that Denis has chosen to join the Hydrogen Optimized team as CEO as we enter an exciting new phase of our company's commercial development," said Andrew Stuart, founding President and CEO of Hydrogen Optimized. "With proven executive experience in the sale and deployment of green hydrogen production plants, Denis is uniquely well-positioned to lead our company in the emerging large-scale clean hydrogen technology market. In my upcoming role as Executive Chairman, I look forward to supporting Denis and continuing to support the Hydrogen Optimized team along with our customers, investors and other stakeholders."

Mr. Krude joined the thyssenkrupp Group, one of Germany's largest industrial companies, in 1998. At thyssenkrupp Uhde, a chemical plant manufacturer, he held a series of progressively senior management positions. From 2016 to 2023, he served as CEO and a Member of the Executive Board at thyssenkrupp nucera, a leading technology and plant engineering company specializing in water electrolysis and green hydrogen. Among his accomplishments there, in 2021-2022 Mr. Krude and his team prepared the company for an IPO, leading investor meetings and other activities that set the stage for its successful 2023 public listing.

"The unique focus of Hydrogen Optimized on large-scale water electrolysis solutions for major, hard-to-abate industries aligns with my view that this market segment offers the most significant opportunity in clean hydrogen," Denis Krude said. "With a strong foundation built on the Stuart family's 120-year legacy in high-power water electrolysis, I see enormous opportunity for Hydrogen Optimized to become a world leader in clean hydrogen."

Mr. Krude added, "I am impressed by the culture of the Hydrogen Optimized team and the tremendous progress they have made in advancing the company's RuggedCell™ water electrolysis technology, manufacturing capabilities and market presence. I look forward to working closely with Andrew and the Owen Sound team to realize the company's tremendous potential."

Known for his innovative and strategic approach to leadership in international large-scale plant engineering and EPC (Engineering, Procurement and Construction) projects, Mr. Krude has successfully led multicultural and cross-functional teams across various locations worldwide, emphasizing performance and leadership values. His expertise spans the entire plant engineering value chain, encompassing business development, sales, product management, project execution and after-sales service. He has a track record of restructuring and enhancing business areas, as well as rapidly expanding supply chains and workforces during periods of strong growth.

Mr. Krude, a 54-year-old German national, was born in Spain. He attended a portion of his school years in Brazil, completed high school and military service in Germany, and then earned a Master's Degree in Electrical Engineering and Information Technology from RWTH Aachen University, one of Germany's most prestigious technical universities, in 1995.

About Hydrogen Optimized

Hydrogen Optimized Inc., a subsidiary of Key DH Technologies Inc. (KEY), is a private hydrogen technology company that develops and commercializes large-scale water electrolyzers for the world's largest clean hydrogen projects. The company's patented RuggedCell™ system enables clean hydrogen plants up to gigawatt scale. The RuggedCell™ is a precious metal-free, high power alkaline water electrolyzer with a 0-100% dynamic range. Through a strategic relationship with ABB, an investor in KEY, Hydrogen Optimized has strengthened the RuggedCell™ offering through access to ABB's world-leading power and automation technologies. For more information on Hydrogen Optimized, please visit www.hydrogenoptimized.com.

Don Hogarth, Phone: 416-565-8920, Email: don.hogarth@hydrogenoptimized.com 

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