Hexagon Purus signs long-term supply agreement to deliver hydrogen fuel storage systems for fuel cell buses

Hexagon Purus has signed an exclusive long-term supply agreement (“LTA”) with a leading European bus OEM. Under this agreement, Hexagon Purus will supply hydrogen storage systems for the OEM’s next generation two axle (12 meter) and articulated (18 meter) fuel cell bus offerings. This OEM has been a long-standing customer of Hexagon Purus. Deliveries under the LTA will take place between 2021 and 2024 with an estimated sales value of approximately EUR 30 million (including some deliveries already made in 2021).

The hydrogen storage systems will be supplied from Hexagon Purus’ facility in Kassel, Germany, and will include Hexagon Purus’ lightweight type 4 cylinders, enabling a driving range of 350 kilometers.

“This agreement showcases the close collaboration with our long-standing customer. We both share a common vision and a common interest – to drive zero emission mobility,” says Michael Kleschinski, EVP Hexagon Purus. “We are happy that a growing number of countries are eyeing hydrogen technology, which is a superb, green solution to decarbonize public transportation”.

“We now see the adoption of zero emission mobility solutions accelerating,” says Morten Holum, CEO Hexagon Purus. “As more European countries and cities announce strategic policies to promote the decarbonization of mobility, more commercial vehicles—especially city buses—will be rapidly transitioned”.

Contacts
Salman Alam, VP Corporate Development, Hexagon Purus
Telephone: +47 476 12 713 | salman.alam@hexagonpurus.com

Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

About Hexagon Purus
Hexagon Purus, a Hexagon Composites company, is a world leading provider of hydrogen type 4 high-pressure cylinders, battery packs and vehicle systems integration for fuel cell electric and battery electric vehicles. Hexagon Purus enables zero emission solutions for light, medium and heavy-duty vehicles, buses, ground storage, distribution, maritime, rail and aerospace. Learn more at www.hexagonpurus.com.

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