Latest news with #HexagonPurus
Yahoo
17-07-2025
- Business
- Yahoo
Hexagon Purus ASA: Results for the second quarter 2025
Key developments in Q2 2025 and after balance sheet date: • Quarterly revenue of NOK 193 million in the second quarter of 2025, 63% lower compared to same quarter last year;• EBITDA of NOK -161 million in the second quarter of 2025, compared to NOK -97 million in the same period last year;• Signed new supply agreement with Hino Trucks for supply of class 6 & 7 battery electric trucks to the U.S. market and initiated process to explore options for the BVI segment;• Exited the quarter with order backlog consisting of firm purchase orders of close to NOK 1.1 billion. 'We have had a tough second quarter with revenue ending at NOK 193 million, which is down 63% year-over-year due to significantly lower activity in hydrogen infrastructure and hydrogen heavy-duty mobility. On the positive side, we had high order intake in the quarter and expect a notable activity increase in the second half of 2025', says Morten Holum, CEO of Hexagon Purus. 'Despite the improved order intake, we continue to adapt our cost base by increasing the annualized cost reduction from NOK 200 million to up to NOK 350 million to enable profitability at lower volumes. The anticipated revenue increase, lower capex and working capital release we expect will meaningfully reduce cash outflow in the second half of 2025. With the additional cost cuts in combination with the ongoing portfolio review, we retain the aim to make our current cash balance last until the Company reaches EBITDA and cash break even'. Hexagon Purus Q2 2025 consolidated financials In the second quarter of 2025, Hexagon Purus ('the Company' or 'the Group') generated revenue of NOK 193 million, down 63% compared to the corresponding period in 2024. The main reason for the revenue decline was significantly lower activity in the hydrogen infrastructure and hydrogen heavy-duty mobility application areas, partly offset by higher revenue from aerospace applications and battery electric mobility. Total operating expenses in the second quarter of 2025 ended at NOK 355 (625) million, leading to an operating profit before depreciation (EBITDA) of NOK -161 (-97) million. Total assets at the end of the second quarter of 2025 amounted to NOK 4,266 (4,619) million. Inventory amounted to NOK 714 (611) million as of the end of the second quarter of 2025, and the majority of inventory consists of raw materials and work-in-progress. Trade receivables decreased sequentially by NOK 32 million in the second quarter of 2025 to NOK 244 (401) million. Total equity was NOK 1,418 (1,847) million as per the second quarter of 2025, equal to an equity ratio of 33% (40%). The increase in non-current liabilities to NOK 2,222 (2,021) million is mainly driven by non-cash interest added to the principal of the two outstanding convertible bonds, partly offset by a reduction in lease liabilities to NOK 503 (524) million. Total current liabilities stood at 626 (751) million at the end of the second quarter of 2025, of which trade payables made up NOK 148 (250) million and which was sequentially down compared to the first quarter of 2025. Net cash flow from operating activities in the second quarter of 2025 was NOK -197 (-232) million. Working capital increased by NOK 41 million in the quarter (NOK 120 million in Q2 2024), primarily due to higher inventory levels in preparation for increased activity in the second half of the year and a decline in trade payables. This was only partly offset by a reduction in trade receivables. Net cash flow from investing activities was NOK -62 (-180) million in the second quarter of 2025, of which NOK 37 (133) million relates to investments in production equipment and facilities and is mainly spill-over items from 2024 related to the Company's capacity expansion program. Net cash flow from financing in the second quarter of 2025 was NOK -3 (-5) million. Cash and cash equivalents ended at NOK 527 (543) million as of the second quarter of 2025. Hydrogen Mobility and Infrastructure (HMI)Revenue for the HMI segment in the second quarter of 2025 was NOK 164 million, down 69% compared to the corresponding period last year. The decline in revenue is primarily owed to lower activity within hydrogen infrastructure and heavy-duty hydrogen mobility, which is only partially offset by higher year-over-year revenue from aerospace applications. EBITDA for the HMI segment in the second quarter of 2025 ended at NOK -76 (17) million, equivalent to an EBITDA margin of -47% (3%) as the sharp decline in revenue reduced the segment's ability to absorb its fixed costs combined with a less profitable product mix. Historical segment financials are made available on together with Q2 2025 report and presentation. Battery Systems and Vehicle Integration (BVI)Revenue for the BVI segment in the second quarter of 2025 was NOK 25 (2) million. The year-over-year revenue growth was mainly driven by vehicle deliveries of the Tern RC8 to Hino Trucks as well as deliveries of battery systems to Toyota Motors North America. EBITDA for the BVI segment ended at NOK -31 (-60) million in the second quarter of 2025. Historical segment financials are made available on together with Q2 2025 report and presentation. OutlookCommercial momentum and revenue contribution remain solid within hydrogen transit buses in Europe and aerospace in North America. However, the ramp-up of the BVI business unit remains delayed relative to prior expectations. Revenue from the hydrogen infrastructure segment is significantly down year-over-year, although the current order backlog indicates a notable increase in activity in the second half of 2025, which should improve Group revenue and profitability. The anticipated revenue increase should also support a more favorable working capital development especially towards the end of the year, and capital expenditure is expected to decline as investments from 2024 related to the capacity expansion program near completion. Together, these factors are expected to meaningfully reduce cash outflow over the remainder of the year. The Company remains focused on cost reductions to support profitability at lower volume, while concurrently reviewing its business portfolio. Including the measures announced in this report, the total expected reduction in annualized operating costs from 2026—compared to 2024 levels—is estimated to be up to NOK 350 million, assuming all else is equal, exceeding the NOK 200m cost reduction target announced in February by NOK 150m. Together, the ongoing portfolio review and cost-cutting initiatives are aimed at making the current cash balance last until the Company reaches EBITDA and cash break-even. Presentation of the resultsHexagon Purus will present the Q2 2025 results today, 17 July, at 08:30 CEST and the presentation will be broadcast live via The presentation will be held in English and will be virtual. A recording of the presentation will be made available on For more information: Mathias Meidell, IR Director, Hexagon Purus ASATelephone: +47 909 82 242 | Salman Alam, CFO, Hexagon Purus ASA Telephone: +47 476 12 713 | About Hexagon Purus ASA 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 and follow @HexagonPurus on X and LinkedIn. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act Attachments HPUR Q2 2025 Report HPUR Q2 2025 PresentationError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
03-07-2025
- Business
- Yahoo
Hexagon Purus ASA: Invitation to the presentation of second quarter 2025 results
Hexagon Purus ASA's second quarter results 2025 will be released on 17 July 2025, 07:00 CET. Morten Holum (CEO) and Salman Alam (CFO) will present the results at 08:30 CET and the presentation will be broadcasted live via The presentation will be held in English and will be virtual. A recording of the presentation will be made available on For more information: Mathias Meidell, IR Director, Hexagon Purus ASATelephone: +47 909 82 242 | Salman Alam, CFO, Hexagon Purus ASA Telephone: +47 476 12 713 | About Hexagon Purus ASA 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 and follow @HexagonPurus on X and LinkedIn. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading ActError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16-06-2025
- Automotive
- Yahoo
Hexagon Purus signs new supply agreement with Hino Trucks and is set to explore options for the BVI segment
(Oslo, Norway, 16 June 2025) Hexagon Purus (the 'Company'), a world leading manufacturer of zero-emission mobility and infrastructure solutions, has signed a long-term agreement with Hino Trucks ('Hino') for production and supply of Class 6 & 7 battery electric straight trucks for the U.S. market. The truck is intended to carry the Hino brand and be made available for general sale through Hino's extensive network of authorized dealers from 2026. An initial series of prototype vehicles will be produced and delivered in Q4 2025. The vehicles will be based on Hino's chassis and upfitted with Hexagon Purus' proprietary zero-emission technology, including battery systems, auxiliary modules, and power modules. The class 6 & 7 straight truck will be using the same base technology and components as the Tern RC8 tractor, enabling strong synergies in terms of utilizing existing investments in product development and production capacity. 'We are very happy to expand our current relationship with Hino to also produce and deliver this new class 6 & 7 straight truck for the US market', says Todd Sloan, EVP, Battery Systems and Vehicle Integration at Hexagon Purus. 'This product will serve back-to-base operations in urban areas with high frequency of stop-and-go activity over shorter distances, making it an ideal battery-electric alternative for fleet operators. This product targets an attractive trucking segment and will complement Tern's existing city- and regional RC8 tractor'. As communicated in the Company's fourth quarter 2024 report, Hexagon Purus initiated a review of its overall business portfolio to secure the Company's cash runway to EBITDA and cash break even. To enable the Battery Systems and Vehicle Integration (BVI) division to fully leverage its growth potential following the supply agreement with Hino, the Company is initiating a structured process to generate and evaluate alternatives for this division. This could include, but is not limited to, inviting one or more partners into the BVI division or finding other structural solutions. Hexagon Purus has engaged ABG Sundal Collier ASA as financial advisor and Advokatfirmaet Schjødt AS as legal advisor. For more information Mathias Meidell, Investor Relations Director, Hexagon Purus Telephone: +47 909 82 242 | Salman Alam, CFO, Hexagon Purus Telephone: +47 476 12 713 | About Hino Hino Trucks manufactures, sells, and services a lineup of Class 4-8 commercial trucks in the United States. Hino Trucks is the premier heavy and medium duty nameplate in the United States with a product lineup that offers fully connected vehicles with low total cost of ownership, unmatched reliability and maneuverability and the most comprehensive bundle of standard features in the market. Headquartered in Novi, Michigan, Hino has a network of over 240 dealers nationwide committed to achieving excellence in the ultimate ownership experience. Learn more about Hino Trucks at or follow us on Facebook, LinkedIn, Twitter and YouTube. 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 and follow Hexagon Purus on X and LinkedIn This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This information is considered to be inside information pursuant to the EU Market Abuse Regulation. This stock exchange announcement was published by Mathias Meidell, IR Director, Hexagon Purus ASA, on 16 June 2025 at 14:31 in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
Hydrogen Tanks Market Forecast Report 2025-2030: Burgeoning Opportunities in Growing Adoption in Military and Defense Sectors, & Emergence of Lightweight Composite Material-based Hydrogen Tanks
As demand for green hydrogen rises, hydrogen tanks become crucial for storage in transportation, industrial, and power sectors. North America emerges as the third-largest market, with strong investment in infrastructure and clean energy. Above 500 bar pressure tanks are integral for high-demand applications like FCEVs. Major players like Worthington Enterprises and Hexagon Purus are leading innovation. The report details market drivers, challenges, product developments, and competitive strategies. Hydrogen Tanks Market Dublin, May 12, 2025 (GLOBE NEWSWIRE) -- The "Hydrogen Tanks Market by Tank Type (Type 1, Type 2, Type 3, Type 4), Material Type (Metal, Composite), Pressure (Below 250 Bar 250 to 500 Bar, Above 500 Bar), Application (Stationary Storage, Fuel Tank, Transportation), & Region - Global Forecast to 2030" has been added to offering. The hydrogen tanks market is set to soar, with an estimated valuation of USD 1.37 Billion in 2025, projected to reach USD 3.78 Billion by 2030, growing at a CAGR of 22.5% from 2025 to 2030. The report offers a thorough examination of growth influencers such as key drivers, constraints, challenges, and opportunities. It provides an in-depth analysis of industry players, detailing their business strategies, solutions, product launches, mergers, acquisitions, partnerships, and agreements. This extends to assessing the competitive landscape, aiding both market leaders and new entrants in formulating effective go-to-market strategies and understanding the market pulse. This surge is largely driven by the global pivot toward clean energy and the expanding green hydrogen economy. As governments and businesses emphasize sustainability and carbon reduction, hydrogen emerges as a premier solution for decarbonizing transportation, industrial, and power sectors. Its role as an efficient clean energy carrier is particularly pronounced in the push for green hydrogen storage solutions, spurring innovation and investments in high-pressure hydrogen tank storage techniques. Above 500 bar pressure hydrogen tanks hold significant market share. The demand for hydrogen tanks capable of withstanding pressures over 500 bar is substantial, especially given their role in high-demand applications like transportation and industry. As fuel cell electric vehicles (FCEVs) and heavy-duty applications such as buses and trucks become more prevalent, there's a pressing need for high-pressure tanks. Storing hydrogen at such pressures ensures a compact, energy-dense fuel source, crucial for ultra-long-range vehicles and industries with stringent standards. North America: A key region in the hydrogen tanks market. North America stands as the third largest regional market, propelled by heightened investments in hydrogen infrastructure and significant governmental support for clean energy initiatives. The US and Canada are leading advancements in hydrogen production, with their respective focuses on fuel cell vehicles and green hydrogen production. The region's robust automotive industry, with key players funneling investments into hydrogen fuel cell technologies, amplifies the demand for advanced hydrogen storage solutions. Key Insights Offered: Analysis of market drivers, including the rising demand for fuel cell electric vehicles and clean energy, along with challenges such as the high cost of composite-based tanks. Insights into upcoming technological innovations and service launches in the hydrogen tanks sector. Market development trends across regions, highlighting lucrative markets and investment opportunities. Comprehensive competitive assessment of key industry players, focusing on growth strategies and offerings. Key Attributes: Report Attribute Details No. of Pages 243 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $1.37 Billion Forecasted Market Value (USD) by 2030 $3.78 Billion Compound Annual Growth Rate 22.5% Regions Covered Global Market Dynamics Drivers Growing Demand for Clean Energy Solutions Increasing Demand for Hydrogen Fuel-Cell Vehicles Growing Government Investments & Initiatives Restraints High Cost of Composite-based Tanks Safety Concerns and Regulations Opportunities Growing Adoption of Hydrogen Tanks in Military and Defense Sector Emergence of Lightweight Composite Material-based Hydrogen Tanks Challenges Lack of Hydrogen Refueling Stations Capital-Intensive Production Case Studies Swagelok and Luxfer Gas Cylinders Collaborated for Hydrogen Fuel Solutions Nproxx's Innovative Hydrogen Storage Solutions to Revolutionize Public Transportation Worthington Enterprises Partnered with Stokota to Design and Manufacture Compressed Hydrogen Transport Technology Company Profiles Worthington Enterprises Luxfer Gas Cylinders Hexagon Purus Quantum Fuel Systems LLC Faber Industrie S.P.A. Everest Kanto Cylinder Ltd. Beijing Tianhai Industry Co. Ltd. Composites Advanced Technologies, LLC (Catec Gases) Nproxx Tenaris Opmobility Umoe Advanced Composites Cimc Enric Holdings Limited Doosan Mobility Innovation Advanced Structural Technologies Bnh Gas Tanks Calvera Hydrogen Mahytec Steelhead Composites, Inc. Bayotech Ecs Composite Advanced Material Systems Co. Vako GmbH & Co. KG Alsafe Company Voith GmbH & Co. KGaA For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Hydrogen Tanks Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Yahoo
12-05-2025
- Business
- Yahoo
Hydrogen Tanks Market Forecast Report 2025-2030: Burgeoning Opportunities in Growing Adoption in Military and Defense Sectors, & Emergence of Lightweight Composite Material-based Hydrogen Tanks
As demand for green hydrogen rises, hydrogen tanks become crucial for storage in transportation, industrial, and power sectors. North America emerges as the third-largest market, with strong investment in infrastructure and clean energy. Above 500 bar pressure tanks are integral for high-demand applications like FCEVs. Major players like Worthington Enterprises and Hexagon Purus are leading innovation. The report details market drivers, challenges, product developments, and competitive strategies. Hydrogen Tanks Market Dublin, May 12, 2025 (GLOBE NEWSWIRE) -- The "Hydrogen Tanks Market by Tank Type (Type 1, Type 2, Type 3, Type 4), Material Type (Metal, Composite), Pressure (Below 250 Bar 250 to 500 Bar, Above 500 Bar), Application (Stationary Storage, Fuel Tank, Transportation), & Region - Global Forecast to 2030" has been added to offering. The hydrogen tanks market is set to soar, with an estimated valuation of USD 1.37 Billion in 2025, projected to reach USD 3.78 Billion by 2030, growing at a CAGR of 22.5% from 2025 to 2030. The report offers a thorough examination of growth influencers such as key drivers, constraints, challenges, and opportunities. It provides an in-depth analysis of industry players, detailing their business strategies, solutions, product launches, mergers, acquisitions, partnerships, and agreements. This extends to assessing the competitive landscape, aiding both market leaders and new entrants in formulating effective go-to-market strategies and understanding the market pulse. This surge is largely driven by the global pivot toward clean energy and the expanding green hydrogen economy. As governments and businesses emphasize sustainability and carbon reduction, hydrogen emerges as a premier solution for decarbonizing transportation, industrial, and power sectors. Its role as an efficient clean energy carrier is particularly pronounced in the push for green hydrogen storage solutions, spurring innovation and investments in high-pressure hydrogen tank storage techniques. Above 500 bar pressure hydrogen tanks hold significant market share. The demand for hydrogen tanks capable of withstanding pressures over 500 bar is substantial, especially given their role in high-demand applications like transportation and industry. As fuel cell electric vehicles (FCEVs) and heavy-duty applications such as buses and trucks become more prevalent, there's a pressing need for high-pressure tanks. Storing hydrogen at such pressures ensures a compact, energy-dense fuel source, crucial for ultra-long-range vehicles and industries with stringent standards. North America: A key region in the hydrogen tanks market. North America stands as the third largest regional market, propelled by heightened investments in hydrogen infrastructure and significant governmental support for clean energy initiatives. The US and Canada are leading advancements in hydrogen production, with their respective focuses on fuel cell vehicles and green hydrogen production. The region's robust automotive industry, with key players funneling investments into hydrogen fuel cell technologies, amplifies the demand for advanced hydrogen storage solutions. Key Insights Offered: Analysis of market drivers, including the rising demand for fuel cell electric vehicles and clean energy, along with challenges such as the high cost of composite-based tanks. Insights into upcoming technological innovations and service launches in the hydrogen tanks sector. Market development trends across regions, highlighting lucrative markets and investment opportunities. Comprehensive competitive assessment of key industry players, focusing on growth strategies and offerings. Key Attributes: Report Attribute Details No. of Pages 243 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $1.37 Billion Forecasted Market Value (USD) by 2030 $3.78 Billion Compound Annual Growth Rate 22.5% Regions Covered Global Market Dynamics Drivers Growing Demand for Clean Energy Solutions Increasing Demand for Hydrogen Fuel-Cell Vehicles Growing Government Investments & Initiatives Restraints High Cost of Composite-based Tanks Safety Concerns and Regulations Opportunities Growing Adoption of Hydrogen Tanks in Military and Defense Sector Emergence of Lightweight Composite Material-based Hydrogen Tanks Challenges Lack of Hydrogen Refueling Stations Capital-Intensive Production Case Studies Swagelok and Luxfer Gas Cylinders Collaborated for Hydrogen Fuel Solutions Nproxx's Innovative Hydrogen Storage Solutions to Revolutionize Public Transportation Worthington Enterprises Partnered with Stokota to Design and Manufacture Compressed Hydrogen Transport Technology Company Profiles Worthington Enterprises Luxfer Gas Cylinders Hexagon Purus Quantum Fuel Systems LLC Faber Industrie S.P.A. Everest Kanto Cylinder Ltd. Beijing Tianhai Industry Co. Ltd. Composites Advanced Technologies, LLC (Catec Gases) Nproxx Tenaris Opmobility Umoe Advanced Composites Cimc Enric Holdings Limited Doosan Mobility Innovation Advanced Structural Technologies Bnh Gas Tanks Calvera Hydrogen Mahytec Steelhead Composites, Inc. Bayotech Ecs Composite Advanced Material Systems Co. Vako GmbH & Co. KG Alsafe Company Voith GmbH & Co. KGaA For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Hydrogen Tanks Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
