Hexagon Purus Maritime receives purchase order for hydrogen fuel storage system from Moen Marin

December 08, 2022 - Stock Exchange Release

HPUR maritime

Hexagon Purus Maritime, a wholly owned subsidiary of Hexagon Purus, has received a purchase order for a hydrogen fuel storage system from Moen Marin, the world’s largest supplier of working boats to the aquaculture industry. Hexagon Purus Maritime’s hydrogen fuel storage system with type 4 hydrogen cylinders will be used for fuel storage onboard a zero-emission working boat for the aquaculture industry in Norway. Already a development partner in Moen Marin’s “Pilot-E” zero-emission working boat program, Hexagon Purus Maritime will continue working on the development and testing, with final system delivery scheduled by the end of 2023. The value of the order is approximately EUR 200,000 (approx. NOK 2.0 million).

Driving Energy Transformation

"Moen Marin is committed to actively lead the way in developing zero-emission alternatives for fisheries and aquaculture companies operating globally. Supporting the global response to the threat of climate change this is an important project and a long-term initiative for us”, says Mariell Ulla Toven, Chief Business Development Officer in Moen Marin. “Hexagon Purus Maritime delivers strong technical capabilities, and we are happy to further develop our strong cooperation and long-term relationship for the benefit of the maritime industry and global environment”.

“We believe that the maritime industry, both in Norway and globally, offers great potential for increased hydrogen adoption, especially for applications requiring short and predictable working patterns close to the shore”, says Robert Haugen, Managing Director of Hexagon Purus Maritime. “This order represents an important commercial milestone as the first order for our maritime hydrogen fuel system, and we look forward to continue the cooperation with Moen Marin”.

About the market

Hexagon Purus combines maritime experience with extensive hydrogen storage expertise to provide a holistic approach to zero emission maritime solutions. Hexagon Purus is at the forefront of developing innovative hydrogen storage solutions with lightweight composite cylinders that are ideal for maritime applications.

Hexagon Purus’ hydrogen storage and distribution business is well-positioned to support the ambitious energy transition required in the maritime sector - and to take a global leading role for integrated products in the emerging maritime hydrogen market. Together with partners, Hexagon Purus can cover major parts of the maritime hydrogen value chain.

Timing

Delivery of the maritime fuel system is scheduled for Q4 2023.

For more information:

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

About Moen Marin

Moen Marin is the world’s largest supplier of working boats to the aquaculture industry with strong focus on electrification and digitization of the fishing and aquaculture fleet. Moen Marin is headquartered in Trondheim (Norway) with operations across 11 countries. The company is owned by Scale AQ. Together with Scale AQ, Moen Marin wants to make everyday life easier for fish farmers by offering a complete portfolio of products and services to the aquaculture industry.

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.

Hexagon Purus Maritime, a wholly owned subsidiary of Hexagon Purus, provides compressed hydrogen fuel storage systems for maritime applications, helping to decarbonize the maritime industry. The technology is based on decades of know-how and experience from land-based hydrogen application from the Hexagon Group.

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


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