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Hexagon Purus selected by Nikola Corporation to supply hydrogen cylinders for serial production
April 29, 2021

Hexagon Purus has signed a long-term agreement with Nikola Corporation (NASDAQ: NKLA), 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.

The project’s development phase will commence in Q2 2021. The technology is planned to be certified for distribution in European and North American markets.

The long-term agreement also positions Hexagon Purus for potential further projects within a range of truck and other vehicle applications with Nikola.

“We are proud to partner with Nikola and support the delivery of its flagship hydrogen fuel-cell trucking solution. Putting these hydrogen-powered trucks on the road will accelerate the energy transition in heavy-duty transportation," said Michael Kleschinski, EVP Light Duty, Distribution & Cylinders, Hexagon Purus. “The first Hexagon Purus 700 bar hydrogen cylinders will begin testing and validation later this year in accordance with Nikola’s specifications.”

Driving energy transformation

The combined competencies of the Hexagon Group, in combination with the experienced Hexagon Purus specialists, have led to the development of a portfolio of high-performance cylinders with attractive value proposition. Hexagon Purus’ High-Performance Type 4 Hydrogen cylinders are certified to multinational standards and are already successfully in service on other fuel cell trucks and busses.

About the market

The global market for zero-emission mobility solutions, both fuel cell electric vehicles (FCEV) and battery-electric vehicles (BEV), is expected to grow significantly over the next several years, according to various market and industry analyses. Within the commercial vehicle segment, heavy-duty long-haul and high payload truck applications are in particular expected to benefit from FCEV technologies powered by hydrogen fuel.

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Defiance ETFs announced Wednesday that it is launching the Next Gen H2 Fund (HDRO), the first hydrogen ETF in the U.S. Listed on the NYSE, HDRO will give investors exposure to companies involved in the development of hydrogen-based energy sources and fuel technologies. The fund comes with an expense ratio of 0.30%.

https://www.etftrends.com/defiance-etfs-launches-first-u-s-hydrogen-etf-hdro/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+etftrends-feed+%28ETF+Trends%29

Hi I had the same problem not being able to trade Purus on HL - They also told me that
The stock dividend was at a rate of 0.151390 new Hexagon Purus shares for every 1 Hexagon Coposites share held, less 25% Norweigan withholding tax due to the shares being classed as income
New freebies on the way ;-)

Wondered where you had gone , just caught up.
I like your posts.