Hexagon Purus opens new hydrogen cylinder manufacturing hub in Kassel, Germany

September 19, 2023 - Stock Exchange Release

38 BADC6 D CDD5 4 D6 E A836 7 C089 DE734 A0

(Oslo, 19 September 2023) The demand for zero-emission mobility and hydrogen infrastructure is rising as the world is becoming ever more committed to combatting climate change. Hexagon Purus, a world leading manufacturer of zero-emission mobility and hydrogen infrastructure solutions, is today opening its new hydrogen cylinder manufacturing hub in Kassel, Germany. This is Hexagon Purus’ third opening of a new manufacturing facility this year, following the successful openings of the manufacturing facility for battery systems in Kelowna (Canada) in April and the hydrogen cylinder manufacturing facility in Westminster (Maryland, US) in January.

The new 83,000 square foot state-of-the art facility in Kassel can support annual production of more than 40,000 type 4 high-pressure hydrogen cylinders for fuel cell electric mobility and hydrogen infrastructure applications. The new facility will employ up to 300 skilled workers and significantly increase Hexagon Purus’ current hydrogen cylinder manufacturing capacity. The current footprint of the facility also allows for further expansion since the building can accommodate additional production lines as demand for hydrogen storage applications continues to grow.

“We are very excited to announce the opening of our new greenfield site in Kassel. This will play a central role in further developing Hexagon Purus as a world-class manufacturer of safe and reliable hydrogen cylinders. With this facility, we have the necessary capacity to meet the rapidly growing demand for our hydrogen infrastructure and mobility applications”, says Michael Kleschinski, EVP at Hexagon Purus. “We believe the demand for our offerings will continue to increase, and we now have the footprint to support future customer growth”.

With the opening of the new hydrogen cylinder manufacturing hub in Kassel, Hexagon Purus is relocating its current hydrogen cylinder manufacturing from its former site in Kassel that was shared with Hexagon Composites.

About the market

The industrial and mobility sectors are accountable for close to 50% of annual carbon emissions globally, and hydrogen has a significant role to play in reducing these emissions, particularly in “hard to abate” sectors. Making green hydrogen available for use in industrial processes and mobility 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

Eli Turander, Global Communications Director, Hexagon Purus
Telephone: +47 953 35 795 | eli.turander@hexagonpurus.com

Members of the management present at the opening ceremony will be Morten Holum, CEO; Salman Alam, CFO; Michael Kleschinski, EVP LDC and Todd Sloan, EVP Systems.

About Hexagon Purus

Hexagon Purus 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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