Hexagon Purus ASA: Navigating the Path to Zero-Emission Mobility

In the rapidly evolving landscape of sustainable energy, Hexagon Purus ASA stands as a beacon of innovation and progress. The company's upcoming Annual General Meeting (AGM) on April 25, 2025, at the offices of law firm Schjødt in Oslo, Norway, marks a pivotal moment for shareholders and investors alike. This meeting is not just a formality but a strategic gathering where the future direction of the company will be charted, with a keen focus on zero-emission mobility and hydrogen infrastructure.



Hexagon Purus ASA's mission to enable zero-emission mobility for a cleaner energy future is more than just a corporate slogan; it is a commitment to a sustainable 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. This focus positions Hexagon Purus at the forefront of the transition to cleaner energy, which is a critical market demand as governments and industries worldwide strive to reduce carbon emissions.

The company's recent financial performance underscores its strategic focus and market relevance. In 2024, Hexagon Purus reported a 42% increase in revenue, reaching NOK 1,876 million. This growth is driven by increased demand for hydrogen infrastructure, hydrogen mobility, and battery systems & vehicle integration. The company's EBITDA margin also improved from -34% in 2023 to -19% in 2024, indicating better operational efficiency and cost management.



One of the key highlights of the upcoming AGM is the Board of Directors' proposed resolutions. These resolutions are crucial as they will shape the company's strategic direction and operational priorities for the coming year. Shareholders should pay close attention to these proposals, as they will provide insights into the company's plans for growth, innovation, and sustainability.

The AGM is also an opportunity for shareholders to engage with the company's leadership. Mathias Meidell, Investor Relations Director, will be available to answer questions and provide additional information. This direct interaction is invaluable for investors seeking to understand the company's vision and strategies better.

In addition to the AGM, Hexagon Purus has been making significant strides in the market. The company recently signed a multi-year agreement with Stadler for the delivery of hydrogen fuel storage systems for rail applications in California. This agreement is a testament to the increasing demand for hydrogen infrastructure in the transportation sector and positions Hexagon Purus as a key player in this growing market.

However, the company is not without its challenges. The near-term market outlook has deteriorated significantly, following the U.S. presidential election. With a weaker near-term outlook and lower visibility, Hexagon Purus has decided to adjust its cost base accordingly. The company is reducing its annualized costs by approximately NOK 200 million, including an approximate 15% reduction in the workforce. This decision, while difficult, is necessary to ensure the company's long-term sustainability and growth.

In conclusion, Hexagon Purus ASA's upcoming AGM is a critical event for shareholders and investors. The company's focus on zero-emission mobility and hydrogen infrastructure aligns with current and future market demands, presenting significant growth opportunities. However, investors should also be aware of the challenges the company faces and the strategic adjustments it is making to navigate these challenges. By attending the AGM and engaging with the company's leadership, investors can gain valuable insights into Hexagon Purus' future direction and make informed investment decisions.