4Mo·

$HPUR (-2,65 %) Hexagon Purus: the driving force behind the hydrogen revolution

The energy transition and the global trend towards decarbonization have led to a growing interest in alternative drive technologies in recent years. In this context Hexagon Purus has established itself as a promising player in the field of zero-emission mobility. The company, which specializes in innovative solutions for hydrogen and battery systems, is increasingly attracting the attention of investors and industry experts. To get a comprehensive picture of Hexagon Purus, we take a detailed look at various aspects of the company, from its structure and current developments to growth prospects and challenges.

Company profile

Hexagon Purus is a Norwegian company specializing in innovative solutions in the field of zero-emission mobility. The focus is on the development and production of hydrogen storage systems, battery systems and electric powertrains for commercial vehicles.

Shareholder structure

The largest shareholders of Hexagon Purus are:

- Hexagon Composites ASA: 38.28%

- Mitsui & Co, Ltd: 7.538%

- Knut Trygve Flakk: 4.476%

- MP Pensjon PK: 2.622%

- Erste Asset Management GmbH: 2.068%

The main shareholder Hexagon Composites is itself a leading supplier of composite pressure vessels and holds a strategic stake in Hexagon Purus.

Current developments and top news

- Record quarter Q2 2024: revenue of NOK 528 million, +60% year-on-year[2]

- Positive EBITDA in the Hydrogen Mobility & Infrastructure segment in Q2 2024[2]

- Multi-year supply contract with US bus manufacturer GILLIG for hydrogen storage systems[5]

- Partnership with Toyota North America for the supply of H2 storage and battery systems[2]

Important cooperations and partners

- Hino Trucks: Long-term agreement for the supply of battery electric vehicles[2]

- Toyota North America: Series production partnership for H2 systems[2]

- GILLIG: Multi-year supply agreement for H2 storage systems in fuel cell buses[5]

- Daimler Trucks North America: Supply of battery systems[2]

Competitive advantages and moat

- Technology leadership in type 4 pressurized hydrogen cylinders

- Broad product portfolio for various applications (bus, truck, ship, train)[8]

- Strong market position with leading OEMs in the local bus segment[5]

- Synergies through the combination of hydrogen and battery technologies

Growth potential

Hexagon Purus benefits from several growth drivers:

1. global trend towards decarbonization of the transport sector

2. increasing investment in hydrogen infrastructure

3. increasing demand for zero-emission commercial vehicles

The company expects sales growth of at least 50% in 2024 compared to the previous year[6]. For 2025, management expects sales of NOK 4-5 billion and a break-even EBITDA[8].

Financial development

- Q2 2024: Revenue NOK 528 million (+60% YoY), EBITDA NOK -97 million[2]

- H1 2024: Revenue NOK 935 million (+63% YoY), EBITDA margin -21% (improvement compared to -35% in the previous year)[2]

- Order backlog of approx. NOK 1 billion at the end of Q2 2024[2]

Opportunities and risks

Opportunities:

- Strong growth in the hydrogen and e-mobility market

- Technology leadership and broad product portfolio

- Strategic partnerships with leading OEMs

Risks:

- High investments in R&D and production capacities required

- Highly competitive environment

- Dependence on political framework conditions and subsidy programs

Conclusion

Hexagon Purus is well positioned to benefit from growth in the field of zero-emission mobility. The company impresses with its continuous sales growth and improved operating margin. The broad positioning and strategic partnerships offer potential for further growth. However, the share remains speculative due to the high level of investment and the highly competitive environment. Long-term investors with a high risk appetite could consider the share as an investment.

Sources

[1] Company Hexagon Purus ASA BOERSE MUENCHEN https://de.marketscreener.com/kurs/aktie/HEXAGON-PURUS-ASA-116562379/unternehmen/

[2] Hexagon Purus ASA: Results for the second quarter 2024 https://hexagonpurus.com/news/hexagon-purus-asa-results-for-the-second-quarter-2024

[3] Hexagon Purus hydrogen share: Before the big bang https://www.deraktionaer.de/artikel/mobilitaet-oel-energie/wasserstoff-aktie-hexagon-purus-vor-dem-grossen-knall-20364726.html

[4] Hexagon Purus ASA: Results for the second quarter 2024 Page 1 https://www.wallstreet-online.de/nachricht/18283011-hexagon-purus-asa-results-for-the-second-quarter-2024

[5] Hexagon Purus: New deal - buy now? - THE SHAREHOLDER https://www.deraktionaer.de/artikel/mobilitaet-oel-energie/hexagon-purus-neuer-deal-jetzt-zugreifen-20364109.html

[6] Hexagon Purus ASA gives sales forecast for the full year 2024 ... https://de.marketscreener.com/kurs/aktie/HEXAGON-PURUS-ASA-116485535/news/Hexagon-Purus-ASA-gibt-Umsatzprognose-fur-das-Gesamtjahr-2024-ab-46613936/

[7] Hexagon Purus ASA issues profit forecast for 2024 https://de.marketscreener.com/kurs/aktie/HEXAGON-PURUS-ASA-116485535/news/Hexagon-Purus-ASA-gibt-Gewinnprognose-fur-das-Jahr-2024-ab-45937668/

[8] Hexagon Purus share: Will the comeback continue? - sharedeals.com https://www.sharedeals.de/hexagon-purus-aktie-geht-das-comeback-weiter/

[9] Hexagon Purus share - Live price, news & more - OptionsHandeln https://optionenhandeln.de/hexagonpurus

Note: This text was created with the help of artificial intelligence and adapted/remodeled in places.

Source: Perplexity. (2023). Perplexity.ai (AI Chatbot) [Large language model]. https://www.perplexity.ai/

18 Commentaires

Pezi@Pezi

4Mo

Emission-free mobility will increasingly rely on liquid hydrogen. That's why I don't see any need for pressurized containers.

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N@Khlmysee

4Mo

@Pezi then unfortunately you have no idea about the subject. Liquid hydrogen requires a lot of energy for cooling.

There are several reasons why it is nonsensical to believe that hydrogen will primarily be liquid in the future and will manage without pressure vessels:

## Challenges of liquid hydrogen storage

1 **Extremely low temperatures**: Liquid hydrogen requires a temperature of -253°C, which is an enormous technical challenge[2][5]. Maintaining this temperature is energy intensive and costly.

2 **High energy consumption**: Liquefying hydrogen consumes up to 30% of its energy content, which significantly reduces overall efficiency[5].

3 **Vaporization losses**: Despite the best insulation, liquid hydrogen heats up slowly and evaporates (boil-off), resulting in losses[6].

4 **Complex infrastructure**: Special, well-insulated cryogenic tanks and a complex infrastructure are required to handle liquid hydrogen[5].

## Advantages of compressed gas storage

1 **Practicality**: Compressed hydrogen gas storage is technically easier to implement and requires less specialized equipment[4].

2 **Faster refueling**: Compressed gas systems enable faster refueling of vehicles, which is important for everyday use[5].

3 **Lower space requirement**: Compressed gas storage systems require less space than cryogenic systems, which is particularly beneficial for mobile applications[5].

4 **Higher flexibility**: Compressed gas storage systems can be more easily adapted to different applications and scales[4].

## Technological developments

Research is focusing on improving pressure vessels, particularly lightweight composite materials such as carbon fiber that can withstand high pressures[2][4]. These developments are making pressurized gas storage increasingly efficient and safe.

## Conclusion

Although liquid hydrogen storage may have advantages for certain applications, such as the transportation of very large quantities over long distances, it is unlikely to replace compressed gas storage in most applications. The technical challenges, high energy demands and infrastructure requirements of liquid hydrogen storage make compressed gas storage the more viable and efficient solution for many applications, particularly in the mobility sector and decentralized energy systems[2][4][5].

Sources
[1] image.jpg https://pplx-res.cloudinary.com/image/upload/v1727693667/user_uploads/fmgfumzgv/image.jpg
[2] Storing hydrogen: Pressure vessels, tanks and caverns https://www.tuev-hessen.de/1690/wasserstoff-speichern-druckbehaelter-tanks-und-kavernen/
[3] Challenges in the transportation and storage of hydrogen https://blackout-news.de/aktuelles/herausforderungen-bei-transport-und-speicherung-von-wasserstoff-welche-loesungen-gibt-es/
[4] Storing hydrogen: Innovative technologies and their opportunities https://info.atlascopco-kompressoren.de/blog/wasserstoff-speichern-innovative-technologien-und-ihre-chancen
[5] Why gas stored under high pressure is better ... - NPROXX https://www.nproxx.com/de/warum-unter-hohem-druck-gespeichertes-gas-besser-ist-als-fluessigwasserstoff/
[6] Hydrogen pressure vessels and other storage systems. - TUV Rheinland https://www.tuv.com/landingpage/de/hydrogen-technology/main-navigation/speicherung/

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Pezi@Pezi

4Mo

@Khlmysee Please don't tell my boss, I earn my living with it 😏

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N@Khlmysee

4Mo

@Pezi I'd be happy to tell your boss. I suspect you're looking at a different sector... regardless, Hexagon Purus also has liquid hydrogen (cryoshelter) and battery storage applications.

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Pezi@Pezi

4Mo

@Khlmysee as written above. Liquid hydrogen will be used for mobile systems, especially in heavy goods transport...

This is largely due to the refueling process. With a pressurized tank vehicle, the fuel pump can no longer be used for 20-30 minutes after refueling. The refueling time is the biggest advantage over battery electric drives. That is why liquid hydrogen will be used.

https://www.daimlertruck.com/newsroom/pressemitteilung/sicher-schnell-und-einfach-daimler-truck-und-linde-setzen-mit-slh2-technologie-neuen-standard-fuer-fluessigwasserstoff-betankung-52581266

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N@Khlmysee

4Mo

@Pezi This is only worthwhile for long-distance transportation and not for short distances. There are enough scenarios/applications where it won't work without pressurized containers. I think you're thinking too single-track. The technology itself sounds promising. I readily admit that. 😊

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Pezi@Pezi

4Mo

@Khlmysee Of course it will need pressure vessels, but I don't think there will be as many as you are hoping for.

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N@Khlmysee

4Mo

@Pezi You are only looking at the mobility sector and even here only at a sub-sector (there is a huge demand in local transport) and there are many more sectors.

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Pezi@Pezi

4Mo

@Khlmysee Yes and no. On the one hand, only the mobility sector will achieve the desired unit numbers and the associated profits, and on the other hand, I don't think there will be two different refueling options. This means that local transport would also have to be able to fill up with liquid fuel (although I expect battery electric vehicles to be used in local transport anyway).

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N@Khlmysee

4Mo

@Pezi I see it differently. There were enough reasons. Each of the technologies listed will have its raison d'être.

Hexagon Purus doesn't just make hydrogen pressure vessels. But you would have to get to know the company a little better for that 😉

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Pezi@Pezi

4Mo

@Khlmysee I don't deny that either. But why should you invest there, or in Nel ASA, or in Plug, or whatever they're all called, when you can definitely ride the trend with Linde, Air Liquide and Air Products?

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K@TechNav

1Mo

Small update on $HPUR which is also your largest position? Are you buying here?

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N@Khlmysee

1Mo

@TechNav No in the short term (even if attractive), but quite possible in the longer term. The cluster risk is already high enough anyway.

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