Hexagon Composites - Regulatory Filings 2017

Shaping the hydrogen-powered vehicle market

Hexagon Composites' High-Pressure Area, has been selected to receive a

development award for compressed hydrogen cylinders for new fuel cell electric

vehicle (FCEV) models.

The value of the development contract is greater than USD 10 million

(approximately NOK 80 million) and is targeted to run until 2020.

"We are excited to be selected for these projects with leading OEMs. This

nomination confirms our lead position as a high-pressure cylinder manufacturer.

The project will leverage Hexagon's long term investments in Lincoln, Nebraska

and recent strategic investment in xperion in Germany and Heath, Ohio. With our

global footprint, we have the capabilities to execute the initial deliveries in

existing facilities", says Jack Schimenti, President at Hexagon Lincoln.

Hydrogen is a clean and safe energy carrier that can be used as fuel for power

in a wide range of applications, and can be easily stored on a large scale. The

life cycling properties of all-composite pressure cylinders, with plastic liners

and carbon fiber structure, make them more suitable for storage of hydrogen than

metal lined alternatives.

For more information:

Rick Rashilla, Vice President Hydrogen Products, Hexagon Lincoln Inc.

Phone: +1 402 470 4038 | [email protected]

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | [email protected]

Solveig D Saether, Communication Manager, Hexagon Composites ASA

Phone: +47 906 34 977 | [email protected]

About Hexagon Composites

Hexagon Composites ASA is a publicly listed company with its headquarters in

Aalesund, Norway. The Group develops and produces composite pressure cylinders

and systems for storage and transportation of various gases. For more

information, visit www.hexagon.no

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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