Hexagon Purus Sells Shares to Raise NOK 600 Million

• (PLX AI) - Hexagon Purus ASA: Contemplated Private Placement.
• • Hexagon Purus raising gross proceeds of approximately NOK 600 million
• • Hexagon Composites will subscribe for NOK 440 million
• • CEO and Chairman will subscribe for about NOK 6-7 million
• • The net proceeds from the Private Placement will be used for:
• • Cylinder and systems capacity expansion across geographies to meet customer demand;
• • Investments in automated manufacturing facility and technical center of excellence in Kelowna, Canada to support and increase production capacity for battery packs and hydrogen storage systems
• • Investments in production capacity in China to serve the fast-growing Chinese market through the joint venture with CIMC Enric