Hexagon Composites ASA

Contemplated private placement and intention to spin off and list Hexagon Purus - Seite 2

After the intended spin off, Hexagon will be a g-mobility-focused company with attractive profitability and an array of longer-term growth opportunities, targeting several initiatives to drive low-emission fuel adoption. In the global push for a decarbonized transport sector, g-mobility is in the fast lane, driven by new regulations and focused industry initiatives to reduce tailpipe pollutants and greenhouse gas emissions.

Hexagon Purus will be a pure-play hydrogen and battery electric e-mobility company attractively positioned to benefit from the tremendous growth that is expected in the e-mobility market, with the following key highlights:

• In pole position to benefit from game changing market opportunities for hydrogen and battery electric solutions globally driven by the ongoing ESG push towards a zero emission society
• Global leader in Type 4 cylinders, a key enabling technology for hydrogen mobility, set to accelerate growth in an addressable market that is expected to reach ~USD 7bn in 2030
• Unique hydrogen and battery systems as well as electric drivetrain integration capabilities meeting OEM standards
• Strong customer relationships –notable early successes with major OEMs in North America, Europe and Asia
• Established manufacturing footprint with serial production and tier 1 supply capabilities
• Positioned for significant growth with record-high activity and substantial expansion potential in China through announced partnership with CIMC ENRIC

“Decarbonization is high on the global agenda. Governments have launched ambitious plans to decarbonize; many industries face strict targets for reducing emissions and the renewable energy required to make green hydrogen is growing more plentiful. In this global push to decarbonize, we see unprecedented opportunities for hydrogen and battery electric solutions,” says Jon Erik Engeset, CEO Hexagon.

“Hexagon Purus’ extensive experience in Type 4 cylinder production, combined with its deep systems understanding, makes it well-prepared to meet the expected accelerated demand. Hexagon Purus is already playing a leading role in this shift toward a zero emission society,” continued Engeset.

“Our deep knowhow and long experience with e-mobility technologies, along with our successful track-record with customers, make Hexagon Purus well suited to capitalize on the strong momentum in the zero emission space. We are excited to embark on this journey – with the support of Hexagon – to accelerate the development of hydrogen and battery electric zero emission mobility solutions and further unlock the value of Hexagon Purus,” says Morten Holum, President Hexagon Purus.