HyGear Appoints Gerrit Stoelinga as CFO

ARNHEM, Netherlands, Nov. 12, 2019 /PRNewswire/ -- HyGear, a specialist in the field of on-site hydrogen generation and recycling, announces the appointment of Gerrit Stoelinga as Chief Financial Officer. He will start on November 18^th, 2019. Gerrit joins HyGear after twenty years of banking at ING. His last role was Regional CEO of ING Wholesale Banking in Asia Pacific. At HyGear, Gerrit will be part of the senior leadership team alongside Marinus van Driel, Chief Executive Officer.

Gerrit started his professional career at Tebodin Consultants & Engineers, where he worked as a financing specialist in an engineering environment. He strengthened his financial skills at ING, with an initial focus on oil & gas financing specifically. Prior to his appointment as Regional CEO in 2016, Gerrit held various senior management positions at ING, including global roles in leveraged finance, trade & commodity finance and structured export finance. In his last role, as Regional CEO Asia Pacific, he managed a network of 17 offices in 14 countries, including China, Hong Kong, Japan, South Korea, Australia and Singapore.

In recent years, HyGear found traction in the industrial gases market with its Gas-as-a-Service business model (GaaS). In this model, the company owns and operates its proprietary gas generation and recycling technologies at end-users' sites. Currently, this supply model is growing to become "best industry practice". At the same time, the overall market demand for hydrogen is growing due to the increased attention to hydrogen as vehicle fuel.

With the further implementation of the GaaS business model, access to capital markets and debt financing becomes a prerequisite for delivering on HyGear's future growth plans. Marinus van Driel: "We are delighted that Gerrit joins us at this time, as we recognize that financial expertise will be a critical success factor in the next stage of HyGear's corporate development."

About HyGear

HyGear supplies industrial gases like hydrogen, nitrogen and oxygen to industrial end-users by proprietary on-site production and recycling technologies. Besides this, the company supplies hydrogen as fuel for the upcoming market in hydrogen vehicles.

By combining our advanced technologies with traditional supply methods, we guarantee the most optimal method of supply in terms of costs, reliability and environmental impact.

Holding company Green Vision Holding b.v. has listed depository share receipts on the NPEX trading platform. Additional company information can be found on www.npex.nl/hygear and on www.hygear.com

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