Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems to a leading global energy company

July 07, 2023 - Stock Exchange Release

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(Oslo, 5 July 2023) Hexagon Purus, a world leading manufacturer of zero emission mobility and infrastructure solutions, has secured a five-year framework agreement for the delivery of hydrogen distribution systems to a leading global energy company. Hexagon Purus’ hydrogen distribution systems including its type 4 hydrogen cylinders will be used to deliver hydrogen to a network of hydrogen refueling stations in Europe. The framework agreement represents a potential sales value of approximately EUR 27 million.

Driving Energy Transformation

“The demand for our distribution system technology continues to remain strong on the back of increased use of hydrogen as feedstock in industry processes but also increasingly for zero-emission mobility. Our hydrogen distribution systems based on Type-4 high-pressure cylinders offers the optimal combination of weight and payload resulting in lower total cost of ownership compared to other available technologies for transportation of hydrogen”, says Michael Kleschinski, EVP of Hexagon Purus.

About the market

The mobility sector is accountable for approximately 20% of annual carbon emissions globally, and hydrogen has a significant role to play in reducing these emissions. Making green hydrogen available for use in the mobility sector and in other “hard to abate” industrial sectors is critical to reduce carbon emissions.

As hydrogen, a key contributor to the energy transition, continues to build momentum globally, more than 30 countries have released hydrogen roadmaps, USD 320 billion in direct investments into hydrogen projects have been announced through 2030, more than 1,000 hydrogen projects have been announced globally to date and green hydrogen is projected to supply up to 25% of the world's energy needs by 2050.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace.

Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn.

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