North Atlantic Hydrogen Association

Borgartúni 37, P.O. Box 8192, 128 Reykjavík, Iceland

Phone: +354-588-0310 Fax: +354-588-0315 Email:

Annual report 2006

After getting support from NORA (Norrönt Atlantssamstarv) in 2005 a project group was formed to evaluate a new cross Atlantic cooperation regarding hydrogen. Already at this time Iceland had have a number of requests from the neighbouring countries to share learning and information. The partners in Iceland were convinced that having a formal cooperation field might enhance cooperation and also be a platform for new projects.

After roughly 12 months of preparatory work the North Atlantic Hydrogen Association was formally established in Nuuk (Greenland) on August 8th 2006. It was a very successful event, organised by Nukissiorfiit in Greenland.

The latter part was used by the board of NAHA to explore opportunities and future work.

New members became partners in the group and the Association slowly but gradually grew with the aim to increase the interest of hydrogen in the North Atlantic Region.

Already in 2006 a new project group within NAHA was formed with partners from Canada, Greenland, Iceland, Faroe Island and Norway to evaluate grid infrastructure and hydrogen production. This project has now been fundend by NORA and has already started. This is just a good example of what can be accomplished by such a cooperation.

Hjalmar Arnason

Chairman

Annual Accounts

2006

Income:DK

Membership fees 5.301,19[1]

Interests 5,59

Total income 5.306,78

Unpaid Membership fees13.500[2]

Cost

No cost to report

Total assets end of 2006

Bank account (Landsbanki Íslands) 5.306,78

On behalf of the secritariat,

Jón Björn Skúlason

Budget

2007

Income (estimated):DK

Membership fees120.000,00

Total income120.000,00

Cost

Travel cost for Board members (& secritariat) 55.000,00

Fee for Sectritariat (including financial service) 40.000,00

Unknown cost[3] 10.000,00

Total cost105.000,00

Total assets end of 2007

Income from 2007 15.000,00

Bank reserves from 2006 17.700,00

Total 32.700,00

On behalf of the secritariat,

Jón Björn Skúlason

Budget

2008

Income (estimated):DK

Membership fees130.000,00

Total income130.000,00

Cost

Travel cost for Board members (& secritariat) 50.000,00

Fee for Sectritariat (including financial service) 50.000,00

General Assembly meeting Iceland 20.000,00

Unknown cost 10.000,00

Total cost130.000,00

Total assets end of 2008

Income from 2008 0

Bank reserves from 2007 32.700,00

Total 32.700,00

On behalf of the secritariat,

Jón Björn Skúlason

[1]It should be noted that the founding members did not pay a membership fee for 2006 as they provided a lot of resources for the start up of NAHA. Other members only paid ½ fee for 2006.

[2]Only 700 DK was outstanding at the end of January 2007.

[3]It should be noted that Statoil generously provide meeting facility in Stavanger, Norway for the General Assembly, September 6th 2007