Hexagon Composites will supply compressed hydrogen tanks for serial production of fuel cell electric vehicles (FCEVs) to be launched by an undisclosed automotive OEM.
Hexagon is currently developing the tanks to support anticipated production activities as early as 2020. Production is planned to run for at least five years.
Hexagon estimates the combined value for development and serial production to be in the range of $50 million to $70 million.
“This is a major contract for Hexagon and for the growing FCEV industry,” states Rick Rashilla, senior vice president of Hexagon Composites’ hydrogen automotive business. “Hexagon Composites is committed to investing resources into the success of this project and for the adoption of hydrogen in combination with fuel cell technology as a low-carbon alternative fuel for mobility applications.”