Hexagon Composites — Regulatory Filings 2020

Aug 20, 2020

Hexagon Purus enters Northeast Asian market for hydrogen-powered passenger cars - joining the drive toward zero-emission transportation in the region

Hexagon Purus enters Northeast Asian market for hydrogen-powered passenger cars - joining the drive toward zero-emission transportation in the region

A key automotive leader for Fuel Cell Vehicles (FCEVs) in Northeast Asia has

nominated Hexagon Purus, a subsidiary of Hexagon Composites, for the serial

supply of composite cylinders for their current zero-emission Fuel Cell Electric

SUV. Hexagon Purus' cylinders will be installed in the vehicle model starting by

The scope of the nomination is over a two-year period with an estimated sales

value of 25 million Euro. The nomination also positions Hexagon Purus for

further projects within a large range of vehicle applications with this OEM. The

supply contract is subject to final negotiations of terms and conditions.

About the market

Northeast Asia is among the largest automotive markets in the world in terms of

size. Today the region dominates the global hydrogen economy with hydrogen cars,

charging stations and fuel cell applications.

The shift to zero emissions vehicles is driven by the desire to improve air

quality and reduce CO2 emissions, as well as to support energy independence.

Driving energy transformation

"The push for decarbonization is gaining momentum. We see game-changing market

opportunities and we are mobilizing to accelerate the development of zero

emission mobility solutions." says Morten Holum, President Hexagon Purus. "Our

extensive experience in Type 4 cylinder technology and deep systems

understanding makes us well-prepared to meet the accelerated demand we expect

for zero-emissions solutions."

"Northeast Asia is among the leading regions in the world promoting hydrogen

energy. We are excited about this opportunity to engage in the region and

support efforts to drive energy transformation," says Michael Kleschinski, EVP

Hexagon Purus. "Hydrogen is the main focus of Hexagon Purus. We are pleased to

become an approved supplier to a major OEM in this large market, and to bring

our leading Type 4 cylinder technology to a new innovative collaboration."

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.

Hexagon's lightweight, durable all-composite pressure cylinders enable OEM's to

scale up their fuel cell vehicle production in a cost-competitive way.

Timing

The first prototypes of the 700 bar high-pressure cylinders are due to be

delivered by the end of this year.

Contacts:

Karen Romer, SVP Communications, Hexagon Composites

Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

David Bandele, CFO, Hexagon Composites

Telephone: +47 920 91 483 |?david.bandele@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.

Learn more at www.hexagongroup.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.