Hexagon Purus, a world leading supplier of zero emission mobility solutions, has received its first orders for Type 4 high-pressure hydrogen cylinders from Reliance Industries Limited (“Reliance”), India’s largest private sector company. The hydrogen cylinders will be used as prototypes in pilot projects for automotive and back-up power solutions and represents Hexagon Purus’ first ever orders for hydrogen applications in India.

The orders represent Reliance’s first step towards positioning themselves as a leading clean energy player, supporting the transition to a zero-emission society in India. Reliance recently announced a USD 80 billion investment program into clean energy whereby hydrogen will play a pivotal role to drive decarbonization.

Driving Energy Transformation

“We are pleased to receive our first orders for India, and to support Reliance in the beginning of their exciting journey to transform India to a globally leading hydrogen economy,” says Frank Häberli, SVP Asia, Hexagon Purus.

About the market

India is the world’s third-largest energy consumer. By 2030, India aims to have 50% of its energy requirements from renewable energy and to reduce total projected carbon emissions by one billion tons compared to 2005 levels.

Back-up power represents a segment with significant untapped potential to reduce carbon emissions. In India alone there are over 680,000 mobile towers using diesel generators as back-up power. Finding a solution that can run on hydrogen will fast-track the emissions reductions within the segment.

Hydrogen is considered a key lever in helping reach India’s ambition of cleaner air initiatives in public transport. Reliance is pushing for the development of hydrogen automotive infrastructure along selected highways connecting the major cities in India.

Timing

The cylinders are due to be delivered in the first half of 2022.

For more information, please contact:

Mathias Meidell, Director of Investor Relations, Hexagon Purus ASA
Tel: +47 90 98 22 42 | mathias.meidell@hexagonpurus.com

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

About Reliance Industries Limited
Reliance is India’s largest private sector company with activities spanning hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

About Hexagon Purus ASA
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, and aerospace applications.

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