Hexagon Purus, through its wholly owned subsidiary, Wystrach GmbH (“Wystrach”) a leading hydrogen systems supplier, has received an order for hydrogen storage systems from the German company HPS Home Power Solutions GmbH (“HPS”), the world’s first provider of year-round, green hydrogen-based electricity storage for homes, apartments as well as commercial properties. Wystrach’s hydrogen storage systems derived from their reliable and proven industrial gas bundle technology will be used to store green hydrogen. The green hydrogen is produced with surplus solar power from the summer using an electrolyzer and converted back into electricity in the winter. The value of the order is approximately EUR 2.0 million (NOK 20.0 million).

Driving Energy Transformation

“Our high-pressure hydrogen storage systems are flexible and scalable, suitable for a wide range of applications, such as storing baseload energy from solar plants” says Matthias Kötter, Head of Wystrach Sales, Hexagon Purus. “We are proud to once again be selected to support HPS, a long-standing partner of Hexagon Purus.”

About the market

The power and building energy sectors account for close to 40% of annual carbon emissions globally, and hydrogen has a significant role to play in reducing these emissions, particularly as baseload electricity for renewable electricity sources such as solar and wind. Making green hydrogen available for use in power and building energy is critical to reducing 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, 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

The hydrogen storage systems are scheduled for deliveries from Q2,2022.

For more information:

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

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

About HPS Home Power Solutions GmbH

HPS is a global leader in the development and production of integrated energy storage systems based on green hydrogen for homes, apartment buildings as well as commercial properties. With the highly innovative all-season electricity storage system picea, HPS addresses important key areas of the energy transition. Users can generate and store CO2-free energy and supply buildings with electricity as well as heat all around the year. The Berlin-based company was founded in 2014 by Zeyad Abul-Ella and Dr. Henrik Colell. It stands for security, independence and sustainability in decentralized power supply.

Further information: www.homepowersolutions.de.

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, and aerospace applications.

Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn.