Hexagon Purus Maritime receives inaugural order for hydrogen cylinders for maritime applications

Hexagon Purus Maritime receives inaugural order for hydrogen cylinders for maritime applications

09 May 2022 12:00 CEST

Hexagon Purus Maritime, a wholly owned subsidiary of Hexagon Purus, has received
its inaugural order for cylinders to be used in onboard storage of hydrogen in
maritime vessels. Hexagon Purus' type 4 hydrogen cylinders will be used in
onboard swappable storage containers for maritime vessels operating in the
inland waterways in Europe. The value of the order is approximately EUR 1.1
million (approx. NOK 11 million).

Driving Energy Transformation

"Our Type 4 high-pressure cylinders are at the core of what we do and with their
corrosion resistance and long lifetime, the cylinders enable lower operational
cost and total cost of ownership, which makes them ideal for maritime
applications", says Robert Haugen, Managing Director of Hexagon Purus Maritime.
"This order represents an important commercial milestone for Hexagon Purus
Maritime and lends further credence to our maritime strategy".

About the market

Hexagon Purus combines maritime experience with extensive hydrogen storage
expertise to provide a holistic approach to zero emission maritime solutions.
Hexagon Purus is at the forefront of developing innovative hydrogen storage
solutions with lightweight composite cylinders that are ideal for maritime
applications.

Hexagon Purus' hydrogen storage and distribution business is well-positioned to
support the ambitious energy transition required in the maritime sector - and to
take a global leading role for integrated products in the emerging maritime
hydrogen market. Together with partners, Hexagon Purus can cover major parts of
the maritime hydrogen value chain.

Timing

Delivery of the cylinders are scheduled for Q4 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 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 Composites ASA

Provider

Oslo Børs Newspoint