Hexagon Announces Cancellation of Hydrogen Tank Development and Supply Arrangement

By January 30, 2020 < 1   min read  (119 words)

January 30, 2020 |

Hexagon Tanks

Reference is made to the stock exchange announcement made on 12 June 2018 regarding the development and serial order for hydrogen tanks from an automotive OEM with an estimated order value of USD 120 to 150 million (approximately NOK 1.0 billion to 1.2 billion) over 7 years.  Hexagon has been informed by the OEM that the development project for pressure cylinders is canceled due to reasons unrelated to Hexagon.

While Hexagon regrets the cancellation, it will free up resources and allow the pursuit of other opportunities in the very dynamic hydrogen market space.

This information is subject to a duty of disclosure pursuant to Section 5-12 of the Norwegian Securities Trading Act.

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