Hexagon Purus receives second follow-on order for hydrogen distribution systems and mobile refueling stations from ZE PAK Group

Hexagon Purus, through its wholly owned subsidiary Wystrach GmbH (“Wystrach”), has received a follow-on order for hydrogen distribution systems and mobile refueling stations from ZE PAK Group, Poland’s largest privately owned electricity producer.

The follow-on order can be viewed in conjunction with the two separate announcements in Hexagon Purus’ Q4 2021 presentation and on June 16 for hydrogen distribution systems and mobile hydrogen refueling stations. The value of the second follow-on order is approximately EUR 6 million (approximately NOK 60 million). With this recent order, the total value of hydrogen systems being delivered by Hexagon Purus is EUR 13 million (approximately NOK 130 million).

Driving Energy Transformation

“We are accelerating the development of our green hydrogen value chain in Poland. We recently received EU homologation for our hydrogen citibus - Nesobus. The successful tests of our hydrogen bus in four big Polish cities received strong positive feedback from the passengers and the authorities. We are happy we can speed up the transition to a hydrogen economy together with a reliable partner, Hexagon Purus”, says Maciej Stec, Vice President of the Management Board for Strategy, Polsat Plus Group and Member of the Supervisory Board of ZE PAK SA.

“The second follow-on order is a testament to our technology and capabilities to deliver high-quality hydrogen technology to “hard to abate” sectors, says Matthias Kötter, Head of Wystrach Sales, Hexagon Purus. “PAC PCE is an important client of Hexagon Purus, and we are happy to continue supporting their growth in Poland”.

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.

Poland emits more than 400 million tons of carbon emission annually and approximately 70% of the total energy production is still sourced from coal. Making green hydrogen available is a key prerequisite for the Polish energy sector to transition into zero-emission energy and to secure cheaper energy.

On 2 November 2021, the Council of Ministers approved the Polish Hydrogen Strategy to the year 2030 with an outlook to the year 2040. The strategy sets out the main objectives and covers 40 actions for the development of a low carbon hydrogen economy in Poland with emphasis on the use of hydrogen in the energy, transport, and industry sectors. Within transport, key goals of 2030 include capacity for 2 GW electrolyzers, the roll-out of 800-1,000 new FCEV buses and the installation of a minimum of 32 hydrogen refueling stations.

Timing

The delivery of the hydrogen distribution systems and mobile refueling stations is scheduled from Q2 to Q3 2023.

For more information:

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

About ZE PAK Group

ZE PAK Group is the largest private electricity producer in Poland with over 60 years of experience in the electricity generation sector. ZE PAK is currently implementing an ambitious energy transformation plan: the transition from coal to zero-emission energy production and the construction of a nationwide, full value chain of renewable hydrogen. Lignite-fired power stations will be phased out, and production based on lignite will be phased out by the end of this decade. In 2021, the ZE PAK Group produced 4.36 TWh of electricity, and revenues amounted to PLN 2.2 billion. The Group currently employs nearly 3,500 people. The ZE PAK Group is controlled by Mr. Zygmunt Solorz, one of the largest and most well-known entrepreneurs in Poland, with activities in the media, telecommunications, and real estate sectors.

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.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act