Hoffmann Green Concludes an Agreement With Shurfah Holding Before Signing a Licensing Contract in Saudi Arabia

Regulatory News:

Hoffmann Green Cement Technologies (ISIN: FR0013451044, Ticker: ALHGR) ("Hoffmann Green Cement" or the "Company"), an industrial player committed to the decarbonation of the construction sector that designs and markets innovative clinker-free cements, announces at the French-Saudi Investment Forum the signing of an agreement with Shurfah Holding that defines the main points of an exclusive licensing contract to build four Hoffmann units in Saudi Arabia. Shurfah Holding is a Conglomerate with wide range of investments in real estate, industry, financial services, fintech and food and beverage. Shurfah is an extension of the family’s historical legacy in real estate development since 1944, whose real estate exceeded 13,800 thousand units and more than 6 billion riyals of investments.

As part of Saudi Vision 2030, Shurfah Holding and Hoffmann Green have been in talks for over a year with the aim of developing low-carbon Smart Cities. In 2022, Hoffmann Green and Shurfah Holding signed a preliminary letter of intent to a test phase which enabled Hoffmann clinker-free cement to be experimented in Saudi Arabia and the production process to be assessed locally. Following these tests, which turned out to be highly satisfactory, the two entities decided to speed up their collaboration by concluding an agreement defining the main points of a licensing contract which will be signed in the next few weeks.

This licensing contract will lead to the construction of four Hoffmann plants in Saudi Arabia, which will be built on the same model as H2, Hoffmann Green's second production unit inaugurated last month in Bournezeau (Vendée, North-West of France). These plants will be funded and operated by Shurfah Holding, which will market Hoffmann Green clinker-free cement in Saudi Arabia. The first plant will be built in the Saudi capital, Riyadh. In exchange for this industrial and technological transfer, Hoffmann Green will receive royalties generated by this licensing model.

Julien Blanchard and David Hoffmann, co-founders of Hoffmann Green Cement Technologies, said: "Hoffmann Green's international development strategy is speeding up thanks to this agreement with Shurfah Holding, holding of the Saudi real estate giant. The forthcoming construction of 4 Hoffmann units in this new high-potential territory, Saudi Arabia, once again illustrates the attractiveness of our clinker-free cements and the ingenious vertical production process of our H2 unit. We would like to thank the Shurfah Holding teams and we are proud to participate in Saudi Vision 2030 by promoting the decarbonation of Smart Cities.”