Hexagon Purus selected by New Flyer for the fourth time as partner for the hydrogen bus market in North America 

February 07, 2024 - Stock Exchange Release

Xcelsior CHARGE FC Hero Image 1

(Oslo, Norway, 7 February 2024) Hexagon Purus, a world leading manufacturer of zero-emission mobility and infrastructure solutions, has been selected as supplier of hydrogen cylinders for the fourth year in a row by New Flyer, a subsidiary of NFI Group Inc. (“NFI”), a leading independent global manufacturer of bus and coach solutions, playing an active leadership role in zero-emission transportation. New Flyer proudly delivers low- and zero-emission heavy-duty transit buses to customers across the United States and Canada.

Hexagon Purus will continue to provide its Type 4 hydrogen storage cylinders for New Flyer’s next generation, zero emission hydrogen fuel cell electric transit bus, the Xcelsior CHARGE FC™, which enables a driving range of 370+ miles/600 km on a single refueling. The total value of this contract is estimated to be approximately USD 4 million.

Production of the Type 4, Buy America compliant hydrogen storage cylinders will be out of Hexagon Purus’ facility in Westminster, Maryland (U.S.). Since 2020, Hexagon Purus has proudly delivered hydrogen cylinders for well over 100 New Flyer hydrogen fuel cell electric transit buses.

Driving Energy Transformation

“New Flyer is leading the transition to zero-emission mobility in North American cities with clean, and sustainable mobility solutions that enable reduced greenhouse gas emissions. Hexagon Purus has been a long-term partner, and we are pleased to continue working with them to offer the most innovative and advanced hydrogen fuel cell-electric buses in Canada and the United States”, said David White, Executive Vice President, Supply Management, NFI.

“Transport accounts for around 20 percent of global greenhouse gas emissions and hydrogen can play an important role in cleaning up this sector. We are proud to be part of New Flyer’s effort in decarbonizing transit bus operations in North America”, says Michael Kleschinski, EVP Hydrogen Mobility & Infrastructure. “We have delivered hydrogen cylinders for New Flyer transit buses for four years, and each year our contract size has grown, highlighting our strong relationship with the customer. We have a strong market position now with both US and European bus OEMs”, he continues.

Timing

The cylinders will be delivered throughout 2024.

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. According to the Hydrogen Council, the number of announced hydrogen projects grew in 2023 by about 35% to over 1,400, equaling USD 570 billion investments. Green hydrogen is projected to supply up to 25% of the world's energy needs by 2050.

For more information

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

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

About New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE™ brands. It also offers infrastructure development through New Flyer Infrastructure Solutions™, a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are powered by electric motors and battery propulsion and 1,900 are zero-emission.

Further information is available at www.newflyer.com.

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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