Correction: Hexagon Purus receives EUR 11.3 million order to deliver high-performance hydrogen distribution systems to a leading global industrial gas company

(Oslo, 11 July 2022) Hexagon Purus, through its wholly owned subsidiary, Wystrach GmbH (“Wystrach”), a leading hydrogen systems supplier, has received an order for hydrogen distribution systems from a leading global industrial gas company who is a long-standing customer. Wystrach’s hydrogen transport systems with Hexagon Purus’ type 4 cylinders will be used to deliver hydrogen for industrial and mobility applications in Germany and the Netherlands.

This order can be viewed in conjunction with the two separate announcements on February 4 and on April 20 earlier this year for hydrogen distribution systems. The value of the current order is approximately EUR 11.3 million (approximately NOK 113 million). With this recent order, the total value of hydrogen systems being delivered by Hexagon Purus to this customer is approximately EUR 18.5 million (approximately NOK 185 million).

Driving Energy Transformation

“Our distribution systems modules have the largest transport capacity worldwide, made to deliver hydrogen from the production sites to either industrial clients or hydrogen filling stations for mobile applications,” says Matthias Kötter, Head of Sales Wystrach, Hexagon Purus. “We have a longstanding relationship with this customer, and we are proud to supporting them in making hydrogen available for industry and mobility applications in Europe”.

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 Q1 2023 to Q4 2023.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | 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 and follow @HexagonPurus on Twitter and LinkedIn.

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