Hexagon Purus ASA: Successful completion of 40% acquisition of Cryoshelter

Hexagon Purus ASA: Successful completion of 40% acquisition of Cryoshelter

01 Aug 2022 19:00 CEST

(Oslo, 1 August 2022) Reference is made to the stock exchange announcement by
Hexagon Purus on 21 April 2022, regarding the agreement to acquire 40% of
Cryoshelter GmbH's ("Cryoshelter") liquid hydrogen business.

Hexagon Purus is pleased to announce that the transaction has been successfully
completed. The initial investment of EUR 3.5 million brings early-stage
expertise in liquid hydrogen tank technology for zero emission mobility
applications and could potentially result in a future complementary offering to
Hexagon Purus' market leading portfolio of zero emission mobility technologies.

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 Cryoshelter

Cryoshelter is an Austrian cryogenic storage technology company founded in 2008
by Dr. Matthias Rebernik (currently holds approximately 80% of the shares in the
Company) whose PhD thesis was part of the LH2-tank project for the BMW Hydrogen
7. The Company has developed and secured patented technology for heavy-duty
trucks and buses using liquid storage solutions for natural gas and hydrogen
based on the same technology platform. Using proprietary designs, Cryoshelter's
commercialized liquid natural gas tanks allow for maximum utilization of frame
rail space to give industry leading performance (e.g., 20-50% better fuel
storage and 2-4x improved hold time versus competitors).

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.

More information:
Access the news on Oslo Bors NewsWeb site

Source

Hexagon Purus ASA

Provider

Oslo Børs Newspoint