Hexagon Composites

Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems to a leading global energy company

(Oslo, 5 July 2023) Hexagon Purus, a world leading manufacturer of zero emission

mobility and infrastructure solutions, has secured a five-year framework

agreement for the delivery of hydrogen distribution systems to a leading global

energy company. Hexagon Purus' hydrogen distribution systems including its type

4 hydrogen cylinders will be used to deliver hydrogen to a network of hydrogen

refueling stations in Europe. The framework agreement represents a potential

sales value of approximately EUR 27 million.

Driving Energy Transformation

"The demand for our distribution system technology continues to remain strong on

the back of increased use of hydrogen as feedstock in industry processes but

also increasingly for zero-emission mobility. Our hydrogen distribution systems

based on Type-4 high-pressure cylinders offers the optimal combination of weight

and payload resulting in lower total cost of ownership compared to other

available technologies for transportation of hydrogen", says Michael

Kleschinski, EVP of Hexagon Purus.

About the market

The mobility sector is accountable for approximately 20% of annual carbon

emissions globally, and hydrogen has a significant role to play in reducing

these emissions. Making green hydrogen available for use in the mobility sector

and in other "hard to abate" industrial sectors 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, USD

320 billion in direct investments into hydrogen projects have been announced

through 2030, more than 1,000 hydrogen projects have been announced globally to

date and green hydrogen is projected to supply up to 25% of the world's energy

needs by 2050.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus

Telephone: +47 909 82 242 | [email protected]

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.

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