Financing agreement signed for CIMC-Hexagon joint venture
(Oslo, Norway, 23 March 2026) Hexagon Purus ASA (“Hexagon Purus” or the “Company”), a world leading manufacturer of zero-emission mobility and infrastructure solutions, has through one of its wholly owned subsidiaries entered into a financing agreement for the Chinese joint venture with the Company’s joint venture partner, CIMC Hydrogen Energy Technology LTD (“CIMC Enric”).
Under the financing agreement, CIMC Enric will provide funding for the joint venture in 2026 in exchange for a higher ownership share in the joint venture. This arrangement aims at minimizing Hexagon Purus’ cash outflow to the joint venture, while ensuring continued operations and market presence in China. As part of the financing agreement, Hexagon Purus will retain the right to re-establish its original ownership level at a later point in time.
Morten Holum, CEO of Hexagon Purus, says:
This agreement should be viewed as part of our ongoing business portfolio review and marks an important step to further improve capital efficiency
The Chinese market remains strategically important for Hexagon Purus, representing the largest global market for hydrogen-related mobility and infrastructure solutions. Operationally, the CIMC-Hexagon joint venture has remained focused on adapting its operating model to current market conditions and working to secure certification for the Chinese market. In addition, the parties have agreed on simplifying the JV structure, with the objective of improving cost efficiency, execution speed, and competitiveness in the Chinese market.
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Financing agreement signed for CIMC-Hexagon joint venture, source
