Hexagon Purus, a world leading supplier of zero emission mobility solutions, has
received its first orders for Type 4 high-pressure hydrogen cylinders from
Reliance Industries Limited ("Reliance"), India's largest private sector
company. The hydrogen cylinders will be used as prototypes in pilot projects for
automotive and back-up power solutions and represents Hexagon Purus' first ever
orders for hydrogen applications in India.
The orders represent Reliance's first step towards positioning themselves as a
leading clean energy player, supporting the transition to a zero-emission
society in India. Reliance recently announced a USD 80 billion investment
program into clean energy whereby hydrogen will play a pivotal role to drive
decarbonization.
Driving Energy Transformation
"We are pleased to receive our first orders for India, and to support Reliance
in the beginning of their exciting journey to transform India to a globally
leading hydrogen economy," says Frank Häberli, SVP Asia, Hexagon Purus.
About the market
India is the world's third-largest energy consumer. By 2030, India aims to have
50% of its energy requirements from renewable energy and to reduce total
projected carbon emissions by one billion tons compared to 2005 levels.
Back-up power represents a segment with significant untapped potential to reduce
carbon emissions. In India alone there are over 680,000 mobile towers using
diesel generators as back-up power. Finding a solution that can run on hydrogen
will fast-track the emissions reductions within the segment.
Hydrogen is considered a key lever in helping reach India's ambition of cleaner
air initiatives in public transport. Reliance is pushing for the development of
hydrogen automotive infrastructure along selected highways connecting the major
cities in India.
Timing
The cylinders are due to be delivered in the first half of 2022.
For more information, please contact:
Mathias Meidell, Director of Investor Relations, Hexagon Purus ASA
Tel: +47 90 98 22 42 | mathias.meidell@hexagonpurus.com
(mailto:mathias.meidell@hexagonpurus.com)
Karen Romer, SVP Communications, Hexagon Composites ASA
Tel: +47 950 74 950 | karen.romer@hexagongroup.com
(mailto:karen.romer@hexagongroup.com)
About Reliance Industries Limited
Reliance is India's largest private sector company with activities spanning
hydrocarbon exploration and production, petroleum refining and marketing,
petrochemicals, retail and digital services.
About Hexagon Purus ASA
Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for
a cleaner energy future. Hexagon Purus is a world leading provider of Hydrogen
Type 4 high-pressure cylinders, complete vehicle systems and battery packs for
fuel cell electric and battery electric vehicles (FCEV and BEV) including hybrid
mobility applications on light, medium and heavy-duty vehicles, transit buses,
ground storage, distribution, marine, rail, and aerospace applications.
Learn more at www.hexagonpurus.com (http://www.hexagonpurus.com) and follow
@HexagonPurus on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act