Shaping the hydrogen-powered vehicle market
(Thomson Reuters ONE) -
Hexagon Composites' High-Pressure Area, has been selected to receive a
development award for compressed hydrogen cylinders for new fuel cell electric
vehicle (FCEV) models.
The value of the development contract is greater than USD 10 million
(approximately NOK 80 million) and is targeted to run until 2020.
"We are excited to be selected for these projects with leading OEMs. This
nomination confirms our lead position as a high-pressure cylinder manufacturer.
The project will leverage Hexagon's long term investments in Lincoln, Nebraska
and recent strategic investment in xperion in Germany and Heath, Ohio. With our
global footprint, we have the capabilities to execute the initial deliveries in
existing facilities", says Jack Schimenti, President at Hexagon Lincoln.
Hydrogen is a clean and safe energy carrier that can be used as fuel for power
in a wide range of applications, and can be easily stored on a large scale. The
life cycling properties of all-composite pressure cylinders, with plastic liners
and carbon fiber structure, make them more suitable for storage of hydrogen than
metal lined alternatives.
For more information:
Rick Rashilla, Vice President Hydrogen Products, Hexagon Lincoln Inc.
Phone: +1 402 470 4038 | rick.rashilla(at)hexagonlincoln.com
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele(at)hexagon.no
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Phone: +47 906 34 977 | solveig.saether(at)hexagon.no
About Hexagon Composites
Hexagon Composites ASA is a publicly listed company with its headquarters in
Aalesund, Norway. The Group develops and produces composite pressure cylinders
and systems for storage and transportation of various gases. For more
information, visit www.hexagon.no
Follow us on Twitter: (at)HexagonASA
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.
Press release:
http://hugin.info/132600/R/2127179/812301.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hexagon Composites ASA via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.08.2017 - 07:50 Uhr
Sprache: Deutsch
News-ID 556494
Anzahl Zeichen: 2700
contact information:
Town:
Ã…lesund
Kategorie:
Business News
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"Shaping the hydrogen-powered vehicle market"
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