Hexagon Purus nominated by major commercial truck OEM to supply battery packs for zero emission heavy-duty vehicles

January 31, 2022 - Stock Exchange Release

I Stock 1287472488

Hexagon Purus, a world leading manufacturer of zero emission mobility solutions, has been nominated by a leading and long-standing commercial truck OEM, to provide battery packs for serial production of battery electric heavy-duty vehicles.

The scope of the nomination is for delivery of battery packs to commence serial production in 2024 and last through 2027, with an option to extend until 2029. Initial production will be out of Hexagon Purus’ new facility in Kelowna, Canada. The total sales value for the initial period from 2024-2027 is estimated at approximately USD 800 million (approx. NOK 7.0 billion), increasing to approximately USD 1.2 billion (approx. NOK 10 billion) if the extension option is exercised.

The supply contract is subject to final negotiation of terms and conditions.

Driving Energy Transformation

“As a supplier of critical technology needed for zero-emission mobility, this nomination further strengthens our position as a strategic partner for OEM customers”, says Todd Sloan, EVP Hexagon Purus Systems. “We are proud to be nominated for this vehicle program, and we look forward to supporting this OEM in driving their transition to zero-emissions mobility”.

For more information:

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

Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 476 12 713 | karen.romer@hexagongroup.com

This information is considered to be inside information pursuant to the EU Market Abuse Regulation. This stock exchange announcement was published by Dilip Warrier, CFO at Hexagon Purus ASA, on 31 January, 2022 at 18:30 CET.

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for a cleaner energy future. Hexagon Purus is a world leading provider of Hydrogen Type 4 high-pressure cylinders, complete vehicle systems and battery packs for fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid mobility applications on light, medium and heavy-duty vehicles, transit buses, ground storage, distribution, marine, rail, and aerospace applications.

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

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