This so called ‘accelerated bookbuilding process’ created 145,000,000 shares in a “private placement” fund at NOK 6,90 (0.63 USD) per new share. The capital raised will help the company meet its 2025 goals, namely getting a few hundred Tern trucks out the door and ramping up production.

T&BB interviewed senior management at Hexagon Purus and discussed the company’s market positioning as it looks to capitalise on the growing demand for clean transportation technologies needed to drive zero-emission transportation in the Commercial Vehicle (CV) industry.

These hydrogen storage tanks will be produced at the Hexagon Purus facility in Westminster, Maryland and will be used in Gillig’s new fuel cell-powered transit buses.

Last month, Fastcharge opened the country's first electric-truck-dedicated charging hub, just outside of Oslo. Kempower installed the equipment (high-powered Satellite DC chargers) but the smart e-mobility solutions provider Wennstrom, is responsible for the service and maintenance of the EV charging infrastructure.

Initially set to be released in the U.S. market, the class 8 battery-electric RC8 truck is set to go into series production in Q4 2024, at Hexagon’s new 200,000-square-foot facility in Dallas, Texas. Tern trucks will be available through the Hino dealer network across the U.S.

Hexagon Purus is set to supply hydrogen storage and battery packs to Toyota Motor North America for the series production of its heavy-duty fuel cell powertrains. These HFC powertrains will be manufactured at the Toyota facility in Georgetown, Kentucky.

With 100,000 gas vehicles in operation worldwide, Hexagon Agility sees substantial growth in NG trucks at EPA 2027.

The total number of city buses with alternative drivelines in European Union 27 countries plus the UK, Norway (NO), Iceland (ICE) and Switzerland (EU 27+4) totalled 13,466 units  comprising 6,354 electric buses (excludes trolley buses), 4,022 hybrid-electric buses, 2,883 CNG buses and 207, hydrogen (fuel cell) buses.

The St1 group plans on building more energy stations across the Nordics, with Kempower set to provide all the necessary charging equipment, a potentially lucrative contract for the firm as they look to capitalise on the European EV transition. 

Hexagon has supplied Ford Trucks with a complete hydrogen fuel storage system for the development of a fuel-cell electric-powered truck (F-Max FCEV) prototype. As a partner in the project, Ford Trucks will develop and deliver the F-Max FCEV, which will operate as part of a larger fleet of zero-emission trucks collecting data from around Europe.

The strategic investors include Mitsui, Hy24, and Hexagon Composites. This will help fund upcoming investments, including expanding its hydrogen fuel storage tank factory in Weeze, Germany.

The establishment of Krone Norge AS is part of a wider strategic restructuring of the Krone Scandinavian sales network. This subsidiary replaces its previous sales partner, Vogn Service, which has been exclusively importing Korne products into the region since 2008.