Hexagon Composites, as one of the world’s leading tank manufacturers, is accelerating in the field of liquid hydrogen.
Hexagon Composites, which is already well-known in the sector of gaseous fuels with its CNG and hydrogen tanks, is expanding its range to include gas and liquid hydrogen (LNG and H2L). To do so, the corporation will purchase a 40% interest in Cryoshelter, an Austrian firm that specializes in cryogenic tanks.
Hexagon Purus ASA will be responsible for the hydrogen component of the investment. Hexagon Composites, which owns 73.3 percent of Cryoshelter, will invest 3.5 million euros to buy 40% of the company’s liquid hydrogen (LH2) business, with options to buy the balance holdings over the following 5 to 10 years. The deal is scheduled to be completed in the third quarter of 2022.
“With the addition of Cryoshelter’s technology, we can now provide state-of-the-art liquid-gas solutions to our customers.” Hexagon Composites CEO Jon Erik Engeset remarked, “This will further reinforce our efforts to advance decarbonization in the heavy transport industry.”
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