Hexagon Purus receives order to deliver hydrogen storage systems to HPS Home Power Solutions

Hexagon Purus receives order to deliver hydrogen storage systems to HPS Home Power Solutions

11 May 2022 07:00 CEST

Hexagon Purus, through its wholly owned subsidiary, Wystrach GmbH ("Wystrach") a
leading hydrogen systems supplier, has received an order for hydrogen storage
systems from the German company HPS Home Power Solutions GmbH ("HPS"), the
world's first provider of year-round, green hydrogen-based electricity storage
for homes, apartments as well as commercial properties. Wystrach's hydrogen
storage systems derived from their reliable and proven industrial gas bundle
technology will be used to store green hydrogen. The green hydrogen is produced
with surplus solar power from the summer using an electrolyzer and converted
back into electricity in the winter. The value of the order is approximately EUR
2.0 million (NOK 20.0 million).

Driving Energy Transformation

"Our high-pressure hydrogen storage systems are flexible and scalable, suitable
for a wide range of applications, such as storing baseload energy from solar
plants" says Matthias Kötter, Head of Wystrach Sales, Hexagon Purus. "We are
proud to once again be selected to support HPS, a long-standing partner of
Hexagon Purus."

About the market

The power and building energy sectors account for close to 40% of annual carbon
emissions globally, and hydrogen has a significant role to play in reducing
these emissions, particularly as baseload electricity for renewable electricity
sources such as solar and wind. Making green hydrogen available for use in power
and building energy is critical to reducing 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, 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

The hydrogen storage systems are scheduled for deliveries from Q2, 2022.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | [email protected]
(mailto:[email protected])

Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | [email protected]
(mailto:[email protected])

About HPS Home Power Solutions GmbH

HPS is a global leader in the development and production of integrated energy
storage systems based on green hydrogen for homes, apartment buildings as well
as commercial properties. With the highly innovative all-season electricity
storage system picea, HPS addresses important key areas of the energy
transition. Users can generate and store CO2-free energy and supply buildings
with electricity as well as heat all around the year. The Berlin-based company
was founded in 2014 by Zeyad Abul-Ella and Dr. Henrik Colell. It stands for
security, independence and sustainability in decentralized power supply.

Further information: www.homepowersolutions.de
(http://www.homepowersolutions.de).

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 applications.

Learn more at www.hexagonpurus.com (http://www.hexagonpurus.com) and follow
@HexagonPurus on Twitter and LinkedIn.

More information:
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Source

Hexagon Purus ASA

Provider

Oslo Børs Newspoint