Hexagon Composites — Regulatory Filings 2022

Oct 14, 2022

Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems in Europe

Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems in Europe

(Oslo, Norway, 14 October 2022) Hexagon Purus ASA ("Hexagon Purus"), through its

wholly owned subsidiary Wystrach GmbH, a leading hydrogen systems supplier, has

secured a framework agreement for delivery of hydrogen distribution systems to a

leading European producer of green hydrogen.

Hexagon Purus' hydrogen distribution systems including its type 4 hydrogen

cylinders will be used to deliver hydrogen for transportation and industrial

applications in Europe. The minimum value of the framework agreement is

approximately EUR 9.7 million (approximately NOK 97 million).

Driving Energy Transformation

"We are currently experiencing strong commercial momentum within our hydrogen

distribution business following the recent push from European authorities to

reduce emissions and increase energy security", says Michael Kleschinski, EVP of

Hexagon Purus. "We are very happy to play an important part in supporting

European authorities' ambitious growth plan for hydrogen adoption".

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

Delivery of the hydrogen systems is scheduled from Q4 2022 to Q4 2023.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus

Telephone: +47?909 82 242 | mathias.meidell@hexagonpurus.com

(mailto:mathias.meidell@hexagonpurus.com)

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, 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

@HexagonPurus on Twitter and LinkedIn.