Hexagon Composites - Regulatory Filings 2017

Hexagon Composites signs Letter of Intent with Nel and PowerCell

Hexagon Composites ASA (OSE:HEX) has signed a Letter of Intent (LoI) with Nel

ASA and PowerCell Sweden AB to establish an equally owned joint venture to

pursue hydrogen opportunities. The Parties aim at leveraging their respective

capabilities and technologies to offer integrated solutions. The joint venture

will initially focus on opportunities in the maritime and marine segments as

well as projects to leverage renewable energy resources.

"This is an important step in our commitment to develop clean energy

alternatives," says Jon Erik Engeset, CEO of Hexagon Composites. "By creating a

one-stop-shop for our customers, we will be able to integrate hydrogen

technologies and support the customers' project management."

For more information:

Jon Erik Engeset, CEO, Hexagon Composites ASA

Telephone: +47 916 30 550 | [email protected]

Solveig D Saether, Communication Manager, Hexagon Composites ASA

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

About Hexagon Composites ASA

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

Aalesund, Norway. The Group is a leading global supplier of composite pressure

cylinders and systems for storage and transportation of various gases.

For additional information, please visit: www.hexagon.no

About Nel ASA

Nel ASA is a global, dedicated hydrogen company, delivering optimal solutions to

produce, store and distribute hydrogen from renewable energy. Nel serves

industries, energy and gas companies with leading hydrogen technology.

For additional information, please visit: www.nelhydrogen.com

About PowerCell Sweden AB

PowerCell Sweden AB (publ) is the leading fuel cell company in the Nordics,

which develops and produces environmentally friendly power systems for

stationary and mobile customer applications. PowerCell Sweden AB (publ) is

listed on First North at Nasdaq Stockholm and is an industrial spinout from the

Volvo Group. G&W Fondkommission is appointed Certified Adviser by the Company.

Among the largest owners are Midroc New Technology, Fouriertransform, Finindus

and Volvo Group Venture Capital.

For additional information, please visit: www.powercell.se

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.

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