(Oslo, 2 August 2022) Hexagon Purus, through its wholly owned subsidiary Wystrach GmbH (“Wystrach”), a leading hydrogen systems supplier, has received an order for hydrogen distribution systems from a long-standing customer, a German industrial gas company. Wystrach’s hydrogen transport systems with Hexagon Purus’ type 4 cylinders will be used to deliver hydrogen for industrial applications in Germany. The value of the order is approximately EUR 5.2 million (approximately NOK 52 million).

Driving Energy Transformation

“Our hydrogen distribution concept has become a standard across the industry through close cooperation with our customers”, says Matthias Kötter, Head of Sales Wystrach, Hexagon Purus. “We are proud to continue supporting the development of the hydrogen infrastructure in Germany”.

About the market

The industrial sector is accountable for close to 30% 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 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, over USD 70 billion in government funding is committed to hydrogen investments, more than 500 large-scale hydrogen projects have been announced by the industry to date and green hydrogen is projected to supply up to 25% of the world's energy needs by 2050.

Timing

Delivery of the hydrogen systems is scheduled from Q2 2023 to Q3 2023.

For more information:

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