Hexagon Purus signs new supply agreement with Hino Trucks and is set to explore options for the BVI segment
Hexagon Purus signs new supply agreement with Hino Trucks and is set to explore options for the BVI segment
(Oslo, Norway, 16 June 2025) Hexagon Purus (the "Company"), a world leading
manufacturer of zero-emission mobility and infrastructure solutions, has signed
a long-term agreement with Hino Trucks ("Hino") for production and supply of
Class 6 & 7 battery electric straight trucks for the U.S. market. The truck is
intended to carry the Hino brand and be made available for general sale through
Hino's extensive network of authorized dealers from 2026. An initial series of
prototype vehicles will be produced and delivered in Q4 2025.
The vehicles will be based on Hino's chassis and upfitted with Hexagon Purus'
proprietary zero-emission technology, including battery systems, auxiliary
modules, and power modules. The class 6 & 7 straight truck will be using the
same base technology and components as the Tern RC8 tractor, enabling strong
synergies in terms of utilizing existing investments in product development and
production capacity.
"We are very happy to expand our current relationship with Hino to also produce
and deliver this new class 6 & 7 straight truck for the US market", says Todd
Sloan, EVP, Battery Systems and Vehicle Integration at Hexagon Purus. "This
product will serve back-to-base operations in urban areas with high frequency of
stop-and-go activity over shorter distances, making it an ideal battery-electric
alternative for fleet operators. This product targets an attractive trucking
segment and will complement Tern's existing city- and regional RC8 tractor".
As communicated in the Company's fourth quarter 2024 report, Hexagon Purus
initiated a review of its overall business portfolio to secure the Company's
cash runway to EBITDA and cash break even. To enable the Battery Systems and
Vehicle Integration (BVI) division to fully leverage its growth potential
following the supply agreement with Hino, the Company is initiating a structured
process to generate and evaluate alternatives for this division. This could
include, but is not limited to, inviting one or more partners into the BVI
division or finding other structural solutions.
Hexagon Purus has engaged ABG Sundal Collier ASA as financial advisor and
Advokatfirmaet Schjødt AS as legal advisor.
For more information
Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47?909 82 242 | [email protected]
(mailto:[email protected])
Salman Alam, CFO, Hexagon Purus
Telephone: +47?476 12 713 | [email protected]
(mailto:[email protected])
About Hino
Hino Trucks manufactures, sells, and services a lineup of Class 4-8 commercial
trucks in the United States. Hino Trucks is the premier heavy and medium duty
nameplate in the United States with a product lineup that offers fully connected
vehicles with low total cost of ownership, unmatched reliability and
maneuverability and the most comprehensive bundle of standard features in the
market. Headquartered in Novi, Michigan, Hino has a network of over 240 dealers
nationwide committed to achieving excellence in the ultimate ownership
experience.
Learn more about Hino Trucks at http://www.hino.com or follow us on Facebook,
LinkedIn, Twitter and YouTube.
About Hexagon Purus
Hexagon Purus 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 (http://www.hexagonpurus.com) and follow
Hexagon Purus on X and LinkedIn
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act. This information is considered to be
inside information pursuant to the EU Market Abuse Regulation. This stock
exchange announcement was published by Mathias Meidell, IR Director, Hexagon
Purus ASA, on 16 June 2025 at 14:31 CET.