Hexagon Purus receives first order for 2024 to deliver hydrogen distribution systems to Hypion in Germany

November 22, 2022 - Stock Exchange Release

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(Oslo, 22 November 2022) Hexagon Purus, through its wholly owned subsidiary Wystrach GmbH (“Wystrach”), a leading hydrogen systems supplier, has received its first order for hydrogen distribution systems from Hypion, a full-service provider of green hydrogen projects. Hexagon Purus’ hydrogen distribution systems including its type 4 hydrogen cylinders will be used to both transport hydrogen and as mobile storage for the planned network of green hydrogen refueling stations in Germany. The value of the order is approximately EUR 2.2 million (approximately NOK 22 million) and represents the first hydrogen distribution systems order with delivery in 2024.

Driving Energy Transformation

“Partnering with the best and most experienced suppliers on the market is crucial to successfully implement our business strategy in an economical and competitive way”, says Dr. Stefan Rehm, Development Director of Hypion. “We are glad to get Hexagon Purus as part of the team to develop a network of green hydrogen refueling stations in Germany”.

“Our high-pressure distribution system can also be used as a mobile storage for hydrogen refueling stations, lowering both total investments and operating costs through reducing amongst other on-site fixed storage capacity and energy consumption”, says Matthias Kötter, Head of Sales Wystrach, Hexagon Purus. “Allowing for hybrid use of our distribution systems, will enable Hypion to efficiently transport and refuel hydrogen with the same distribution system”.

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, particularly in “hard to abate” sectors. Making green hydrogen available for use in amongst other the mobility sector 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, over USD 70 billion in government funding is committed to hydrogen investments, more than 500 large-scale hydrogen projects have been announced by the industry to date and green hydrogen is projected to supply up to 25% of the world's energy needs by 2050.

Timing

Delivery of the hydrogen systems is scheduled in Q1 2024.

For more information:

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

About Hypion

Hypion plays a part in the green hydrogen economy as a full-service provider in the field of Power-to-X and acts as a system integrator from the project idea, the strategic evaluation and the project development to the realization and operation in the field of the green hydrogen economy. Hypion takes care of the production, logistics, distribution and use of green hydrogen in economically feasible H2-Hubs.

Learn more at www.hypion.eu and follow @hypion on LinkedIn.

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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