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    HPUR   NO0010904923

HEXAGON PURUS ASA

(HPUR)
  Report
Real-time Oslo Bors  -  10:25:04 2023-01-27 am EST
25.50 NOK    0.00%
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Hexagon Purus selected by CaetanoBus as preferred supplier of high-pressure hydrogen fuel systems for fuel cell transit buses

10/31/2022 | 05:26am EST

Hexagon Purus, a world leading supplier of zero emission mobility solutions, has entered into a four-year supply agreement with CaetanoBus as their preferred supplier of hydrogen fuel systems for serially produced fuel-cell transit buses. Hexagon Purus is already a supplier to CaetanoBus and has delivered several hydrogen fuel systems. This agreement further formalizes and cements the relationship between the two partners.

The hydrogen fuel systems will be supplied from Hexagon Purus’ facility in Kassel, Germany. The estimated potential value over the lifetime of the frame agreement is approximately EUR 35 million (approximately NOK 350 million).   

Driving Energy Transformation

“CaetanoBus works to provide safer and greener solutions based on our product experience, advanced technology and passion for transporting people worldwide”, says Patricia Vasconcelos, CEO of CaetanoBus. “We are happy to have Hexagon Purus onboard the team as a reliable partner and supplier of hydrogen fuel storage systems for serial production of our fuel-cell transit buses".

“Becoming the preferred supplier of hydrogen fuel systems for CaetanoBus’ transit buses highlights our strong market position with European bus OEMs", says Michael Kleschinski, Executive Vice President of Hexagon Purus.

“We are pleased to have successfully supported Hexagon Purus’ business growth by leveraging the synergies between their competitive solutions with our global network”, says Takafumi Kasai, General Manager of Functional Materials Div. in Mitsui. “More specifically, it is a true joy that we can contribute to further business expansion between two leading zero-emission players: Hexagon Purus and CateanoBus”.

About the market

The transportation sector is accountable for about 20% of annual carbon emissions globally, and hydrogen has a significant role to play in reducing emissions from this sector and other “hard to abate” sectors. Making green hydrogen available for use in the transportation sector 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, over USD 70 billion in government funding is committed to hydrogen investments, 500 large-scale hydrogen projects have been announced by the industry to date and green hydrogen is projected to supply up to 25% of the world's energy needs by 2050.

For more information:

Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com

About CaetanoBus

CaetanoBus, part of Toyota Caetano Portugal and Mitsui & Co, is a bus and chassis manufacturer in Portugal. The company has a consolidated offer in vehicles for cities and airports, resulting from its technical capacity in developing unique, customer-oriented mobility solutions. CaetanoBus is also the manufacturer of COBUS, the world’s market leader in airport bus transportation. CaetanoBus has been focusing on electric mobility since 1980. Most of our products are intended for export and are now transporting people worldwide. It is a company that uses technology, innovation, and design to be always one step ahead, closer to the future.

About Hexagon Purus

Hexagon Purus, a Hexagon Composites company, 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.

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


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Financials
Sales 2022 901 M 91,2 M 91,2 M
Net income 2022 -462 M -46,7 M -46,7 M
Net cash 2022 90,9 M 9,20 M 9,20 M
P/E ratio 2022 -14,1x
Yield 2022 -
Capitalization 6 586 M 666 M 666 M
EV / Sales 2022 7,21x
EV / Sales 2023 4,14x
Nbr of Employees 415
Free-Float 22,4%
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Number of Analysts 4
Last Close Price 25,50 NOK
Average target price 30,75 NOK
Spread / Average Target 20,6%
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Managers and Directors
Rolf Morten Lie Holum President & Chief Executive Officer
Dilip Warrier Chief Financial Officer
Jon Erik Engeset Chairman
Heiko Chudzick Executive Vice President-Operations
Karen Romer Director
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