Driving energy transformation

Hexagon and CIMC ENRIC forming alliance to accelerate zero-emission hydrogen transportation in China and Southeast Asia - Seite 2

"CIMC ENRIC has a long history of remarkable performance and breakthroughs in alternative fuel storage and transportation. And now hydrogen will take the lead as the ultimate solution for the future needs of the mobility sector in China and on global scale.  As a clean energy enterprise, our strategic alliance with Hexagon will accelerate the adoption of zero-emission transportation by fast tracking the introduction of all-composite Type 4 Hydrogen storage and transportation in China,” says Mr. Xiaohu Yang, General Manager and Executive Director of CIMC ENRIC”

Timing

The companies aim to sign the Joint Venture Agreement in the 3^rd quarter 2020 after board approval and final due diligence, based on a structure that allows both parties to consolidate their contribution to the business. Production in the new venture structure is expected as early as 2021.

Live video webcast
Hexagon will host a webcast to present the alliance on Tuesday, May 12 at 0900 CET. Interested investors/analysts/media can access the live video presentation through this link: https://players.brightcove.net/2335723899001/experience_5eb538b44707d5 ...

A recording of the presentation, the presentation and a press kit will be archived in the emobility section of Hexagon’s website: https://hexagongroup.com/emobility-hydrogen/

Interviews

Following the webcast:

• Investors/analysts are invited to contact David Bandele for arrange one-to-one sessions
• Media are invited to contact Karen Romer to schedule interviews with CEO Jon Erik Engeset and Morten Holum, President Hexagon Purus

(See contact details below)  

Contacts:

Karen Romer, SVP Communications, Hexagon Composites
Telephone: [phone] | [e-mail] 

David Bandele, CFO, Hexagon Composites 
Telephone: [phone] | [e-mail]

About Hexagon Composites

Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications including light-, medium- and heavy-duty vehicles, ground storage, distribution, marine, rail and backup power solutions. 

With extensive experience in pressure vessel development since the early 1960s, our long and proud history is rooted in innovation and change. We have a strong international presence with facilities in Norway, Germany, USA and Canada, and sales representation in some of the world’s most important clean energy markets in Europe, Asia and the Americas.

Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn

About CIMC ENRIC

Founded in 2004, CIMC ENRIC Holdings Limited (Stock code: 3899.HK) is one of the companies listed on the Main Board of the Hong Kong Stock Exchange. It is a subsidiary of China International Marine Containers (Group) Co., Ltd (000039.SZ). CIMC ENRIC is principally engaged in design, development, manufacturing, engineering, sales and operation of, and the provision of technical maintenance services for a wide spectrum of transportation, storage and processing equipment that is widely used for the clean energy, chemical and environmental and liquid food industries. We have built a global marketing network and have over 20 subsidiaries located in China, the Netherlands, Germany, Belgium, United Kingdom and Canada that operate production bases and internationally advanced R&D centers. CIMC ENRIC has 10000 employees and achieved an annual revenue of RMB 13.74 billion in 2019.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act