Hexagon Purus receives order to deliver high-performance hydrogen distribution systems to a leading global industrial gas company

Hexagon Purus receives order to deliver high-performance hydrogen distribution systems to a leading global industrial gas company

20 Apr 2022 07:00 CEST

(Oslo, 20 April 2022) Hexagon Purus, through its wholly owned subsidiary,
Wystrach GmbH ("Wystrach"), a leading hydrogen systems supplier, has received a
follow-on order worth approximately EUR 1.5 million (approx. NOK 14 million) to
deliver hydrogen distribution systems to a leading global industrial gas
company. This order can be viewed in conjunction with the announcement on
February 4, 2022, of a separate order with a value of approximately EUR 5.7
million (approx. NOK 58 million). Wystrach's hydrogen distribution systems with
Hexagon Purus' type 4 cylinders will be used to deliver hydrogen for industrial
and mobility applications in the Netherlands.

Driving Energy Transformation

"This latest order is testament to our technology and confirms our strong
offering of high-pressure hydrogen distribution systems and positioning with
global industrial gas companies," says Matthias Kötter, Head of Wystrach Sales,
Hexagon Purus. "We are happy to continue to support our customer in their
efforts to increase hydrogen distribution 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 for Q1 2023.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | [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 Purus ASA

Provider

Oslo Børs Newspoint