-
1
-
2
-
Today’s announcement
• First step toward a strategic cooperation between CIMC ENRIC
and Hexagon Composites
• CIMC ENRIC together with Hexagon takes the lead in China to
provide safe and cost-efficient storage solutions for hydrogen both
on vehicles and trailers
• The alliance will expand Hexagon’s Type 4 global footprint to
the strategically important Chinese market
• Further strengthens both parties´ presence in South East Asia,
an emerging market for zero emission transportation
• Accelerates the adoption rate of Fuel Cell Electric Vehicles
(FCEVs)
• The transaction is expected to close in Q3 2020, with the
partnership being fully operational by 2021
3
Cityscape - Beijing CBD Photo: iStock / for illustration
purposes only
-
Signing ceremony today
4
Xiang Gao
Chairman of the Board CIMC ENRIC
Xiaohu Yang
General Manager & Executive DirectorCIMC ENRIC
Jon Erik Engeset
President & CEO Hexagon Composites ASA
Morten Holum
PresidentHexagon Purus
-
About the Chinese market
• World's largest auto market - and its exports are
increasing
• Government set policies to have one million Fuel Cell
Electric
Vehicles (FCEVs) on the road - and more than 1,000 hydrogen
refueling stations by 2030
• Represents a multi-billion dollar opportunity for hydrogen
storage vessels on vehicles and trailers
• Shifting abundant hydrogen resources to transportation–
Reducing greenhouse gas emissions and improve air quality
– Increasing energy independence
– Promoting cost-efficient storage for surplus renewable energy
from
wind and solar
5
-
Strong growth in FCEVs and hydrogen infrastructure expected in
China over the next decade
6
ESTIMATED FLEET SIZE OF CHINESE FCEVS1ESTIMATED NUMBERS OF
CHINESE
HYDROGEN REFUELING STATIONS1
250
90
500
2030E2020E
10 101
2025E
MDV & HDV
LDV
10
100
750
CAGR
+54%
1 Based on companies market studies
(‘000)
280-300
2022E 2025E 2030E
2,700-3,000
420-500
CAGR
+33%
-
Southeast Asia
• Alliance of Southeast Asian Countries (ASEAN) ambition to
achieve 23% renewable energy integration into its energy
system by 2025, and even more by 2030
• Singapore to take the lead in promoting cleaner air by
using
Hydrogen
• All ASEAN countries with strong focus on renewable energy and
cleaner air
7
First hydrogen filling station in Southeast AsiaPhoto:The
Star
-
8
-
About Hexagon
• Delivers safe and innovative solutions for a cleaner
energy
future
• Extensive experience in pressure vessel development since the
early 1960s
• State-of-the-art design of fuel systems for hydrogen,
battery
electric and hybrid mobility applications
• Light, medium and heavy-duty vehicles, distribution,
ground
storage, marine, rail and backup power solutions
• Strong international presence with facilities in Norway,
Germany, USA and Canada, and sales representation in
some of the world’s most important clean energy markets in
Europe, Asia and the Americas
9
-
About CIMC ENRIC
10Source: CIMC ENRIC
CONTAINERS VEHICLES AIRPORT
FACILITIESOFFSHORE ENERGY,
CHEMICAL AND
FOOD
EQUIPMENT
TRACK
EQUIPMENT
LOGISTICS
EQUIPMENT
PROPERTY FINANCE
• CIMC ENRIC is a producer of energy, chemical and food
equipment and a provider of offshore engineering services
• Revenues (2019) of RMB 13.7 billion (USD 2.0 billion)
• CIMC ENRIC is headquartered in Shenzhen, China and
listed on the Main Board of Hong Kong Stock Exchange (HKSE)
• Founded in Shenzhen, China in 1980. CIMC is a global
provider of equipment and solutions mainly to the logistics and
energy industry
• In 2019, CIMC’s revenues reached RMB 85.8bn (USD
12.2 billion) and it employed approx. 50,000 people
-
• 20+ member enterprises at home
and abroad
• 10,000+ employees globally
• ISO Liquid tank container
(No. 1 worldwide)
• High pressure gas tube-trailer
(No.1 in China)
• Cryogenic liquid transport equipment (No.1 in China)
• LNG, CNG and LPG transport
equipment (No. 1 in China)
CIMC ENRIC
11
-
Compelling industrial partnership
12
• Chinese leader in Type 1/Type 2/Type 3
pressure vessel technology
• Strong relationships with Chinese vehicle
OEMs, gas distributors and Chinese
regulators
• Trusted and reliable energy equipment
brand in China that has complementary
technology to our own.
• Solid, $2 billion company, listed on the
Hong Kong stock exchange, with over
10,000 employees
• Successful track record of
international alliances
• Global leader in Type 4 pressure vessel
technology, a key enabler for growth in the
Chinese FCEV market
• State-of-the-art design of fuel systems for
hydrogen, battery electric and hybrid mobility
applications
• Expertise spans light, medium and heavy-duty
vehicles, ground storage, distribution, marine,
rail and backup power solutions
• Solid track record of innovating with global
vehicle OEMs on FCEV projects
-
Highlights of the alliance
• Accelerate the adoption of zero emission transportation
• Expand Hexagon’s footprint to the strategically important
Chinese market
• Reduce greenhouse gas emissions and improve air quality
• Together become the largest provider of hydrogen storage and
distribution solutions in China and Southeast Asia
13
Tram in Guangzhou,ChinaPhoto: iStock / for illustration purposes
only
-
14
-
Contacts:
Investors/Analysts:
David Bandele, CFO, Hexagon Composites
Telephone: +47 920 91 483 | [email protected]
Media:
Karen Romer, SVP Communications, Hexagon Composites
• Telephone: +47 950 74 950 | [email protected]
15
