Brief: Hexagon Composites To Acquire 40% Stake In Cryoshelter GmbH

Hexagon Composites ASA

21/04/2022 06:28

April 21 (Reuters) - Hexagon Composites ASA  HEX.OL :
    * HEXAGON TO ACQUIRE STAKE IN AN ADVANCED LIQUID GAS STORAGE
TECHNOLOGY COMPANY, ENHANCING ITS PORTFOLIO OF CLEAN FUEL
SOLUTIONS
    * SIGNED AN AGREEMENT TO ACQUIRE A 40% STAKE IN CRYOSHELTER
GMBH
    * HEXAGON COMPOSITES ASA WILL MAKE AN INITIAL INVESTMENT OF
EUR
2.5 MILLION TO ACQUIRE 40% OF CRYOSHELTER'S LIQUID (RENEWABLE)
NATURAL GAS (LNG) BUSINESS, WITH OPTIONS TO BUY REMAINING
INTERESTS OVER NEXT 3-10 YEARS
    * HEXAGON PURUS ASA (OWNED 73.3% BY HEXAGON COMPOSITES) WILL
MAKE
AN INITIAL INVESTMENT OF EUR 3.5 MILLION TO ACQUIRE 40% OF
CRYOSHELTER'S LIQUID HYDROGEN (LH2) BUSINESS, WITH OPTIONS TO
BUY REMAINING INTERESTS OVER NEXT 5-10 YEARS

Source text for Eikon:  ID:nGNE281BQd 
Further company coverage:  HEX.OL 

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