Hexagon Purus, a leading provider in the hydrogen infrastructure sector, has successfully completed the expansion of its manufacturing facility in Weeze, Germany. This development is a significant step in the company’s ongoing efforts to enhance its engineering and production capabilities for hydrogen infrastructure products.
The expansion has seen the Weeze facility grow from 11,000 square meters to 16,000 square meters. This larger space is now dedicated to the production of various hydrogen solutions, including distribution systems, refueling stations, and stationary storage systems.
As a result of this expansion, Hexagon Purus has effectively doubled its annual production capacity for Type 4 high-pressure hydrogen solutions. This increase in capacity is a crucial element of the Norwegian company’s larger growth strategy. In line with this plan, Hexagon Purus inaugurated a new hydrogen cylinder production site in Kassel, Germany, in September 2023, followed by the opening of another facility in Maryland, USA, in January 2023.
Michael Kleschinski, Executive Vice-President Mobility & Infrastructure at Hexagon Purus, highlighted the company’s growing market share in the transportation and storage of hydrogen “of all colors.” He attributes this success to the competitive total cost of ownership (TCO) of their solutions. “We expect this trend to continue as green h2 gradually replaces grey, and higher capacity improves our ability to meet growing demand,” Kleschinski added.
In a significant funding round in December 2023, Hexagon Purus raised approximately NOK 1 billion ($95.8 million) from investors, including Mitsui, Hy24, and Hexagon Composites. This financial injection is aimed at supporting the company’s global capacity expansion initiatives.
Furthermore, Hexagon Purus reported a record-breaking quarterly revenue of NOK 380 million ($36.4 million) in the third quarter of 2023. This achievement brought the company’s revenue for the first three quarters of the year to NOK 954 million ($91.4 million), marking a significant milestone in its financial performance.
