Hexagon Purus opens new hydrogen infrastructure and systems manufacturing hub in Weeze, Germany

(Oslo, 25 January 2024) Hexagon Purus, a world leading manufacturer of zero-
emission mobility and hydrogen infrastructure solutions, has expanded its
primary manufacturing facility in Weeze, Germany for engineering and production
of hydrogen infrastructure products including systems for distribution,
refueling and stationary storage.

Hexagon Purus is ramping up its capacity to meet growing customer demand for
hydrogen infrastructure solutions as the world transitions to clean energy
sources. The existing 11,000m(2) state of the art facility in Weeze is now
expanded to 16,000m(2). The capacity expansion approximately doubles Hexagon
Purus' annual production capacity of type 4 high-pressure hydrogen
infrastructure solutions.

"We are proud to open our expanded manufacturing site in Weeze, our fourth to
open in the last 12 months," says Michael Kleschinski, EVP Mobility &
Infrastructure. "Hydrogen storage and distribution is a vital part of the
hydrogen ecosystem and has been a major growth driver for Hexagon Purus. We
continue to take market share for storage and transport of hydrogen of all
colors from incumbent solutions due to the competitive total cost of ownership
of our Type 4 transport and storage solutions.  We expect this trend to continue
as green hydrogen gradually replaces grey and higher capacity improves our
ability to meet growing demand."

The opening at Weeze follows openings of new manufacturing sites for hydrogen
cylinder production in Kassel (Germany) in September 2023, battery systems in
Kelowna (Canada) in April 2023 and hydrogen cylinders in Westminster (Maryland,
US) in January last year.

About the market

The industrial and mobility sectors are accountable for close to 50% of annual
carbon emissions globally, and hydrogen has a significant role to play in
reducing these emissions, particularly in "hard to abate" sectors. Making green
hydrogen available for use in industrial processes and mobility is critical to
reduce carbon emissions.

As hydrogen, a key contributor to the energy transition, continues to build
momentum globally, more than 30 countries have released hydrogen roadmaps.
According to the Hydrogen Council, the number of announced hydrogen projects
grew in 2023 by about 35% to over 1,400, equaling USD 570 billion investments.
Green hydrogen is projected to supply up to 25% of the world's energy needs by
2050.

For more information:

Eli Turander, Global Communications Director, Hexagon Purus
Telephone: [phone] | [e-mail]

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: [phone] | [e-mail]
(mailto:[e-mail])

About Hexagon Purus

Hexagon Purus 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.

Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and
LinkedIn

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