Hexagon Composites receives new order for Hydrogen transport cylinders

16.03.2017  Stock Exchange Release

Hexagon Composites' newly acquired subsidiary, xperion Energy & Environment, has received a substantial order for hydrogen high-pressure cylinders from Air Products GmbH in Germany. The X-STORE® high-pressure cylinders will be used in trailers for transportation of hydrogen to German industrial customers by Air Products.

"We are proud to enter into a business relationship with Air Products, one of the leading hydrogen providers in the market," says Hartmut Fehrenbach, Business Unit Director of Mobile Pipeline® at xperion Energy & Environment. "While there is still a considerable fleet of Type 1 steel trailers in the European transportation market, we observe a tendency for Type 4 composite solutions successively replacing steel. This confirms that our Type 4 cylinders are the preferred alternative to traditional steel cylinders in terms of weight, safety and design."

"We are always looking to implement innovative technologies to improve the value proposition to our customers. By introducing sustainable lightweight composite solutions to our transportation fleet, we continue to meet stringent environmental and safety standards and improve our own operational practices," says Thomas Hollad, Bulk Transport Manager Northern Continent at Air Products. "We are pleased to have xperion as one of our preferred suppliers for hydrogen transport cylinders."

Deliveries are scheduled to commence by the end of first quarter and through second quarter of 2017.

With this delivery of the X-STORE® Type 4 hydrogen cylinders, the Hexagon Composites Group is strengthening its position in the hydrogen transportation market. The Group has established a strong position in the European hydrogen transport market and has previously delivered mobile transport modules and transport cylinders to multiple leading hydrogen distributors.

For more information:
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether@hexagon.no

About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company's core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.

The Company had fiscal 2016 sales of $7.5 billion from continuing operations in 50 countries and has a current market capitalization of approximately $30 billion. Approximately 16,000 employees are making Air Products the world's safest and best performing industrial gases company, providing sustainable offerings and excellent service to all customers. For more information, visit www.airproducts.com

About Hexagon Composites Group
Hexagon Composites ASA (OSE:HEX) is a publicly listed company with its headquarters in Aalesund, Norway. It operates some of the world's most advanced facilities for designing, testing and manufacturing of all-composite cylinders and systems for gas applications.

In October 2016, Hexagon Composites acquired xperion Energy & Environment in Germany to strengthen its position in the global composite pressure cylinder and systems market. xperion Energy & Environment, headquartered in Kassel, Germany, is a leading manufacturer of Type 4 high pressure cylinders for the automotive industry and gas transportation.
For more information, please visit www.hexagon.no

Follow us on Twitter: @HexagonASA

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

Hexagon receives new order for Hydrogen transport cylinders
Illustration xperion Mobile Pipeline solution