Hexagon Composites

Regulatory Filings • Feb 14, 2023

Hexagon Purus selected by New Flyer for the third time as partner for the hydrogen bus market in North America

Hexagon Purus selected by New Flyer for the third time as partner for the hydrogen bus market in North America

(Oslo, Norway, 14 February 2023) Hexagon Purus, a world leading manufacturer of

zero-emission mobility and infrastructure solutions, has been selected as

supplier of hydrogen cylinders for the third year in a row by New Flyer, North

America's largest mass mobility solutions provider. New Flyer, a subsidiary of

NFI Group Inc. ("NFI"), is playing an active leadership role in zero emission

transportation in North America, putting sustainable buses and infrastructure in

place in cities across the U.S. and Canada.

Hexagon Purus will continue to provide its Type 4 hydrogen storage cylinders for

New Flyer's serially produced hydrogen fuel cell electric transit bus, the

Xcelsior CHARGE H2(TM), enabling a driving range of up to 350 miles/560 km on a

single refueling. The total value of this contract is estimated to be

approximately USD 2.5 million (approximately NOK 25 million).

Production of the Type-4 hydrogen storage cylinders will be out of Hexagon

Purus' newly opened facility in Westminister, Maryland (U.S.). Since 2020,

Hexagon Purus has delivered hydrogen cylinders for more than 80 New Flyer

hydrogen fuel cell electric transit buses.

Driving Energy Transformation

"NFI is leading the evolution to zero-emission mobility in North American cities

with scalable, clean, and sustainable mobility solutions that enable reduced

greenhouse gas emissions and reduce congestion. Hexagon Purus has been a long-

term partner, and we are happy to continue offering hydrogen fuel cell-electric

vehicles that deliver extended range, faster fill times, and strong performance,

from beginning to end of life," said David White, Executive Vice President,

Supply Management, NFI.

"We at Hexagon Purus believe that clean air is a right, not a privilege, and

hydrogen as a fuel source for transit bus can reduce harmful emissions into the

environment and improve the air quality in the cities", says Jim Harris, Vice

President of North America Hydrogen Storage Operations. "Hexagon Purus and New

Flyer have been working closely together since 2015 and we are proud to be part

of New Flyer's effort in decarbonizing transit bus operations in North

America."

Timing

Delivery of the cylinders is scheduled from Q2 2023 to Q1 2024.

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, particularly in "hard to abate" sectors. Making green hydrogen

available for use in amongst other the mobility sector 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.

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 New Flyer

New Flyer is North America's heavy-duty transit bus leader and offers the most

advanced product line under the Xcelsior® and Xcelsior CHARGE(TM) brands. It also

offers infrastructure development through New Flyer Infrastructure Solutions(TM), a

service dedicated to providing safe, sustainable, and reliable charging and

mobility solutions. New Flyer actively supports over 35,000 heavy-duty transit

buses (New Flyer, NABI, and Orion) currently in service, of which 8,600 are

powered by electric motors and battery propulsion and 1,900 are zero-emission.

Further information is available at www.newflyer.com

(http://www.newflyer.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