Hexagon Purus enters frame agreement with Everfuel, supporting commercialization of zero-emission hydrogen transport in Europe
November 12, 2020 - Stock Exchange Release
Hexagon Purus has signed a multi-year master frame agreement with Everfuel to deliver multiple units of newly designed 45-foot, hydrogen distribution systems. The systems will be used to transport hydrogen to refueling stations serving hydrogen fuel cell electric passenger car fleets (e.g. taxis), trucks and buses, driving the transition to green hydrogen in several European cities. At signing, Everfuel ordered its first six distribution units under the new frame agreement.
The master frame agreement covers design, production and delivery of hydrogen distribution systems for Everfuel through 2025, with an estimated value of approximately EUR 14 million (approx. NOK 158 million).
Everfuel is making green hydrogen for zero emission mobility commercially available across Europe and will be the first to apply the newly designed hydrogen distribution units. From a conceptual idea presented by Everfuel to improve the functionality of the system, Hexagon Purus has developed a hydrogen distribution system with a nominal payload capacity of 958 kg of compressed hydrogen at 300 bar. The new design includes an advanced monitoring system for improved filling efficiency. They are designed by, and will be produced at, Hexagon Purus’ production and assembly facility in Kassel, Germany.
About the market
The increased use of fuel cell electric vehicles has been pointed out by the European Commission as an important step to reach an emission-free transport sector. Using hydrogen in conjunction with fuel cell technology results in zero emission vehicles with clean water vapor as the only emission.
Driving Energy Transformation
“Safe and efficient distribution is one of the cornerstones of a successful and growing commercial green hydrogen business,” says Jacob Krogsgaard, the CEO of Everfuel. “We are very pleased to establish a long-term partnership with Hexagon Purus for state-of-the-art hydrogen trailers and we look forward to jointly continue developing and improving green hydrogen distribution solutions further to reduce cost and increase performance while maintaining a high level of safety.”
“We are excited to continue our close collaboration with Everfuel as they work to commercialize hydrogen fuel and fight emissions in our cities,” says Michael Kleschinski, EVP Hexagon Purus. “At Hexagon Purus, we are proud of our hydrogen storage technology that enables our customers to have the most cost-efficient hydrogen distribution systems on the market.”
This agreement follows an initial purchase order received by Hexagon Purus from Everfuel earlier this year. The first order under the new frame agreement will be delivered in 2021.
Karen Romer, SVP Communications, Hexagon Composites
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David Bandele, CFO, Hexagon Composites
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Everfuel is making green hydrogen for zero emission mobility commercially available across Europe, offering competitive all-inclusive hydrogen supply- and fueling solutions. We own and operate green hydrogen infrastructure and partner with vehicle OEMs to connect the entire hydrogen value chain and seamlessly provide hydrogen fuel to enterprise customers under long-term contracts. Green hydrogen is a 100% clean fuel made from renewable energy and key to electrification of the transportation sector in Europe and a sustainable future. We are a young ambitious company, headquartered in Herning, Denmark, and with activities in Norway, Denmark, Sweden, The Netherlands, Germany and Belgium, and a plan to grow across Europe. Everfuel is listed on Merkur Market in Oslo under EFUEL-ME
About Hexagon Purus
Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for a cleaner energy future. Hexagon Purus is a world leading provider of hydrogen Type 4 high-pressure cylinders, complete vehicle systems and battery packs for fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid mobility applications on light, medium and heavy-duty vehicles, transit buses, ground storage, distribution, marine, rail, aerospace and backup power solutions.
Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act