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 global industrial gas company. Wystrach’s hydrogen distribution systems with Hexagon Purus’ type 4 cylinders will be used to deliver hydrogen for industrial and mobility applications in Germany and the Benelux region. The value of the order is approximately EUR 5.7 million (approx. NOK 58 million).

Driving Energy Transformation

“Our high-pressure hydrogen distribution systems allow for very high payloads when transporting hydrogen, reducing total cost of ownership for our customers,” says Matthias Kötter, Head of Wystrach Sales, Hexagon Purus. “We are proud to be chosen to support our customer to increase their hydrogen distribution footprint”.

About the market

The industrial and mobility sectors are accountable for close to 50% 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 and mobility 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

The hydrogen systems are scheduled for delivery from Q2 through Q4, 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 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 @HexagonASA on Twitter and LinkedIn.

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