In the first quarter of 2021, Hexagon Purus Group generated NOK 57 (48) million
in revenue and recorded operating profit before depreciation (EBITDA) of NOK -62
(-43) million. Revenue growth was driven by increased activity in hydrogen
distribution applications as well as aerospace with slightly lower revenue
contribution from heavy duty vehicle applications due to the completion of a
battery electric (BEV) truck demonstration program in Q1 2020.
Continued investments in personnel and infrastructure to support and accelerate
Hexagon Purus' future growth drive negative profitability.
Key developments
* Signed joint venture agreements with CIMC Enric in March 2021 to enter China
which is expected to be the world's largest zero emission hydrogen vehicle
and distribution market
* Signed a multi-year agreement (as part of a broader agreement together with
Hexagon Agility encompassing CNG solutions) to supply hydrogen distribution
modules to Certarus. Under the agreement, Hexagon Purus received an initial
order for SMARTSTORE® hydrogen distribution modules with an estimated value
of USD 3.2 million
* Hexagon Purus received multiple orders for several leading European gas
distributors for X-STORE 300 bar cylinders and for its new X-STORE 381 bar
version with a total estimated value of EUR 1.9 million. These cylinders
will be used for transportation of hydrogen for industrial and mobility
purposes
* New Flyer, North America's largest mass mobility solutions provider, placed
an order with Hexagon Purus for the supply of high-pressure hydrogen tanks
for their zero-emission Xcelsior CHARGE H2(TM) hydrogen fuel cell electric
transit buses. The contract value is approximately NOK 7.7 million and
deliveries commenced in Q1 2021
* Selected by Talgo S.A., a leading manufacturer of intercity, standard and
high-speed passenger trains, to deliver high pressure cylinders for its
first prototype hydrogen train. The cylinders are expected to be delivered
in the second half of 2021
* Selected to deliver a 700 bar hydrogen fuel storage system for a
demonstration project to develop a fuel cell powered construction machine
* Hexagon Purus signed a long-term agreement with Nikola Corporation, a global
leader in zero-emissions transportation and infrastructure solutions to
develop and supply its high-performance type 4 hydrogen cylinders. The scope
of the agreement is over a multi-year period with an estimated sales value
in excess of EUR 200 million
* Hexagon Purus signed a contract with Wystrach GmbH, a leading systems
provider for high pressure solutions,to supply Type 4, 300 bar pressure
vessels at a value of approximately EUR 2.5 million. The cylinders are
destined for industrial and mobility applications in France and Germany.
Presentation of the results:
Morten Holum (CEO) and Dilip Warrier (CFO) will present the results at 08:30
CEST.
Follow the presentation here: https://hexagonpurus.kg5.no/
A recording of the presentation will be published on www.hexagonpurus.com
(http://www.hexagonpurus.com) after the presentation.
For more information:
Salman Alam, Vice President, Corporate Development, Hexagon Purus
Telephone: +47 476 12 713| salman.alam@hexagonpurus.com
(mailto:salman.alam@hexagonpurus.com)
Dilip Warrier, CFO, Hexagon Purus
Telephone: +1 949-236-5528 | dilip.warrier@hexagonpurus.com
(mailto:|%20dilip.warrier@hexagonpurus.com)
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, maritime, rail, and aerospace applications.
For more information, please visit www.hexagonpurus.com
(http://www.hexagonpurus.com) and follow @HexagonPurus on LinkedIn and Twitter.