Hexagon Purus Maritime receives purchase order for hydrogen fuel storage system from Moen Marin

08 Dec 2022 12:32 CET

Hexagon Purus Maritime, a wholly owned subsidiary of Hexagon Purus, has received
a purchase order for a hydrogen fuel storage system from Moen Marin, the world's
largest supplier of working boats to the aquaculture industry. Hexagon Purus
Maritime's hydrogen fuel storage system with type 4 hydrogen cylinders will be
used for fuel storage onboard a zero-emission working boat for the aquaculture
industry in Norway. Already a development partner in Moen Marin's "Pilot-E"
zero-emission working boat program, Hexagon Purus Maritime will continue working
on the development and testing, with final system delivery scheduled by the end
of 2023. The value of the order is approximately EUR 200,000 (approx. NOK 2.0
million).


Driving Energy Transformation

"Moen Marin is committed to actively lead the way in developing zero-emission
alternatives for fisheries and aquaculture companies operating globally.
Supporting the global response to the threat of climate change this is an
important project and a long-term initiative for us", says Mariell Ulla Toven,
Chief Business Development Officer in Moen Marin. "Hexagon Purus Maritime
delivers strong technical capabilities, and we are happy to further develop our
strong cooperation and long-term relationship for the benefit of the maritime
industry and global environment".


"We believe that the maritime industry, both in Norway and globally, offers
great potential for increased hydrogen adoption, especially for applications
requiring short and predictable working patterns close to the shore", says
Robert Haugen, Managing Director of Hexagon Purus Maritime. "This order
represents an important commercial milestone as the first order for our maritime
hydrogen fuel system, and we look forward to continue the cooperation with Moen
Marin".


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 maritime fuel system is scheduled for Q4 2023.


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 Moen Marin

Moen Marin is the world's largest supplier of working boats to the aquaculture
industry with strong focus on electrification and digitization of the fishing
and aquaculture fleet. Moen Marin is headquartered in Trondheim (Norway) with
operations across 11 countries. The company is owned by Scale AQ. Together with
Scale AQ, Moen Marin wants to make everyday life easier for fish farmers by
offering a complete portfolio of products and services to the aquaculture
industry.


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.

Hexagon Purus Maritime, a wholly owned subsidiary of Hexagon Purus, provides
compressed hydrogen fuel storage systems for maritime applications, helping to
decarbonize the maritime industry. The technology is based on decades of know-
how and experience from land-based hydrogen application from the Hexagon Group.

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

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