Zeyad Abul-Ella resigns from the board of directors of HPS Home Power Solutions AG

Berlin, 08.12.2023

HPS Home Power Solutions AG (HPS), a globally leading provider of year-round energy storage systems based on green hydrogen for buildings, is pushing forward with the comprehensive transformation of its business model towards a partnership model and the corresponding adjustment of corporate structures. As part of this process, Zeyad Abul-Ella will step down from the board effective December 5, 2023. He will remain closely connected to the company as a shareholder. His responsibilities will be distributed among the remaining board members, Stefan Kaufmann and Jewgeni Elster.

Zeyad Abul-Ella, CEO and founder of HPS:
„With the successful launch of our new product generation of picea, an important milestone has been achieved on our journey eventually entering the volume market. Now, the focus is on consistently advancing the transformation of our business from direct sales to sales, installation, and maintenance through our partners, as well as industrializing and improving the efficiency of all our processes. Over the past two years, we have strengthened the board and leadership team so that today we are well-equipped for these challenges. As a founder, the time has come for me to hand over the business responsibility to my fellow board members and executives.“

Hans-Peter Villis, chairman of the supervisory board:
„As CEO, Zeyad Abul-Ella has been the face of HPS for nearly a decade. Under his leadership the company transformed from a small team with a conceptual study for a seasonal energy storage system into the world’s leading firm in the field of hydrogen-based energy storage systems for buildings. On behalf of the supervisory board, shareholders, and all employees I express gratitude to Zeyad for his tireless dedication and pioneering spirit that made this achievement possible.“

About picea and HPS Home Power Solutions AG

HPS is a global leader in the development and production of integrated energy storage systems based on green hydrogen for buildings. With the innovative year-round energy storage system, picea, HPS addresses critical aspects of the energy transition. Surpluses generated by a photovoltaic system on sunny days are stored as green hydrogen and made available in the darker months in the form of electricity and heat. This enables buildings to be powered by solar energy from their own rooftops throughout the year. Founded in Berlin in 2014 by Zeyad Abul-Ella and Dr. Henrik Colell, HPS has received numerous prestigious awards for picea, including the Handelsblatt Energy Award, the Berlin Brandenburg Innovation Award, and the succesful completion the Sustainability Challenge from the German Sustainable Building Council, DGNB.

For further information, please visit: www.homepowersolutions.de.

Inquiries to HPS Home Power Solutions AG

Nils Boenigk (Head of Communications)
Tel.: +49 30 235914-704
Email: nbo@homepowersolutions.de