Hexagon Purus receives first order for 2024 to deliver hydrogen distribution systems to Hypion in Germany

22 Nov 2022 07:00 CET

(Oslo, 22 November 2022) Hexagon Purus, through its wholly owned subsidiary
Wystrach GmbH ("Wystrach"), a leading hydrogen systems supplier, has received
its first order for hydrogen distribution systems from Hypion, a full-service
provider of green hydrogen projects. Hexagon Purus' hydrogen distribution
systems including its type 4 hydrogen cylinders will be used to both transport
hydrogen and as mobile storage for the planned network of green hydrogen
refueling stations in Germany. The value of the order is approximately EUR 2.2
million (approximately NOK 22 million) and represents the first hydrogen
distribution systems order with delivery in 2024.

Driving Energy Transformation

"Partnering with the best and most experienced suppliers on the market is
crucial to successfully implement our business strategy in an economical and
competitive way", says Dr. Stefan Rehm, Development Director of Hypion. "We are
glad to get Hexagon Purus as part of the team to develop a network of green
hydrogen refueling stations in Germany".

"Our high-pressure distribution system can also be used as a mobile storage for
hydrogen refueling stations, lowering both total investments and operating costs
through reducing amongst other on-site fixed storage capacity and energy
consumption", says Matthias Kötter, Head of Sales Wystrach, Hexagon Purus.
"Allowing for hybrid use of our distribution systems, will enable Hypion to
efficiently transport and refuel hydrogen with the same distribution system".

About the market

The mobility sector is accountable for approximately 20% 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 amongst other the mobility sector 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 in Q1 2024.


For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com
(mailto:mathias.meidell@hexagonpurus.com)


About Hypion

Hypion plays a part in the green hydrogen economy as a full-service provider in
the field of Power-to-X and acts as a system integrator from the project idea,
the strategic evaluation and the project development to the realization and
operation in the field of the green hydrogen economy. Hypion takes care of the
production, logistics, distribution and use of green hydrogen in economically
feasible H2-Hubs.

Learn more at www.hypion.eu (http://www.hypion.eu) and follow @hypion on
LinkedIn.

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.

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