Hexagon Purus and Panasonic Energy sign multi-year supply agreement for battery cells in North America

Panasonic will provide battery cells for Hexagon Purus’ proprietary battery system, marking one other vital milestone for Hexagon Purus’ zero-emission heavy-duty providing in North America with system manufacturing in battery first set for Kelowna, Canada.

(Oslo, Norway, 18 April 2023) Hexagon Purus Programs USA LLC, a subsidiary of Hexagon Purus ASA (“Hexagon Purus”), a world-leading producer of zero emission mobility and infrastructure options, has signed a multi-year settlement for provide. of lithium-ion battery cells with Panasonic Vitality Co., Ltd. (“Panasonic”), a worldwide supplier of revolutionary merchandise and options primarily based on battery expertise. Panasonic will provide battery cells for Hexagon Purus’ proprietary battery system, marking one other vital milestone for Hexagon Purus’ zero-emission heavy-duty providing in North America with system manufacturing in battery first set for Kelowna, Canada.

The battery cells might be manufactured at Panasonic’s new facility in Kansas (US) and can adjust to the United States-Mexico-Canada (USMCA) commerce settlement and can be anticipated to learn from the Inflation Discount Act of 2022 (IRA) which incentives out there. for US-based battery producers.

The provision of battery cells will begin in early 2026. As a part of the availability settlement, Hexagon Purus will prepay roughly USD 43 million (roughly NOK 450 million) till 2025, beneath obtain sure milestones. This prepayment will safe battery cell capability for the Hexagon Purus from Panasonic’s Kansas manufacturing facility.

Driving Vitality Change
“Securing our battery provide chain is a crucial goal for Hexagon Purus to ship our buyer contracts such because the just lately introduced distribution settlement with Hino for the manufacture of full battery electrical heavy-duty automobiles for the US market. Panasonic is a pioneer in making zero emission mobility out there to the mass market, and this, mixed with their reliability and deal with steady innovation, make them the best associate for Hexagon Purus”, says Morten Holum, CEO of Hexagon Purus.

“We’re happy to announce this landmark settlement with Panasonic that additional strengthens our main battery system and automotive integration providing in North America”, mentioned Todd Sloan, EVP of Hexagon Purus. “The settlement with Panasonic is a robust validation of our expertise and can give us a robust aggressive platform to supply high quality options to our prospects”.
“The zero-emission motion will proceed to develop in significance over the subsequent decade and this settlement with Hexagon Purus marks an vital step for Panasonic’s international technique as a supplier of latest battery expertise”, mentioned by Kazuo Tadanobu, CEO of Panasonic Vitality. “Partnering with Hexagon Purus, a number one expertise supplier of secure and dependable battery programs for zero-emission heavy responsibility trucking, will assist us drive development within the lithium-ion battery business and speed up the transition to zero-emission mobility”.

In regards to the market
To be able to attain the 1.5°C ambition set by the Paris settlement again in 2015 the transportation sector is required to cut back emissions by 75% till 2050. Within the US, the Environmental Safety Act (EPA) and California Air Sources Board (CARB) have introduces proposals and laws that deal with the necessity for additional reductions in emissions within the transportation sector. In California, CARB launched a regulation for truck producers (Superior Clear Truck commonplace), and just lately, proposed a brand new regulation for fleet house owners (Superior Clear Fleet commonplace). Each laws goal to cut back emissions and speed up the adoption of zero-emissions automobiles (ZEVs) in California’s transportation sector. As a part of the Superior Clear Truck (ACT) and the proposed Superior Clear Fleet (ACF) laws, truck producers and fleet house owners are required to have a better ZEV content material when bought or operated. a fleet of vans in California from 2024 onwards. The ACT regulation has already been adopted by 5 different US states (Massachusetts, New Jersey, New York, Oregon, and Washington) and two extra states are within the technique of public adoption (Colorado and Major).

ACT requires amongst others that 5% of all new class 7 and eight vans bought by 2024 in California have to be ZEVs whereas new additions to the fleet of sophistication 7 and eight vans that shifting to and from intermodal ports and railways have to be ZEVs from 2024 The ACT regulation additionally requires 100% of truck producers’ gross sales by 2040 to return from ZEVs, successfully ending gross sales of inside combustion engine vans in California and spurred infrastructure and provide chain investments.

There are roughly 1.8 million business vans working in California every day of varied courses together with one other 219,000 class 7 and eight vans. In response to CARB, the mixed affect from the ACT and ACF laws will result in roughly 0.5 million ZEVs on the street in 2035 in California, rising to 1.6 million in 2050.

About Panasonic Vitality Co., Ltd
Panasonic Vitality Co., Ltd., established in April 2022 as a part of Panasonic Group’s transition to an working firm system, offers revolutionary merchandise and options primarily based on battery expertise worldwide. Via its automotive lithium-ion batteries, storage battery programs and dry batteries, the corporate brings secure, dependable, and handy energy to a variety of enterprise areas, from mobility and social infrastructure to in medical and shopper merchandise. Panasonic Vitality is dedicated to contributing to a society that realizes the happiness and sustainability of nature, and thru its enterprise actions the Firm seeks to resolve social points whereas main environmental initiatives.
For extra particulars, please go to https://www.panasonic.com/international/power/

In regards to the Panasonic Group
A world chief within the improvement of revolutionary applied sciences and options for a variety of functions within the shopper electronics, housing, automotive, business, communications, and power sectors worldwide, the Panasonic Group has moved into working firm system on April 1, 2022 with Panasonic Holdings Company serving as a holding firm and eight corporations positioned beneath its umbrella. Based in 1918, the Group is dedicated to enhancing the well-being of individuals and society and conducts its companies primarily based on founding ideas which are used to create new worth and supply sustainable options for as we speak’s world. The Group reported consolidated web gross sales of seven,388.8 billion yen for the yr ending March 31, 2022. Devoted to enhancing folks’s well-being, the Panasonic Group is united in offering superior services and products that can assist you to Reside Your Finest.
To study extra concerning the Panasonic Group, please go to: https://holdings.panasonic/international/

About Hexagon Purus
Hexagon Purus allows zero emission mobility for a cleaner power future. The corporate is a world-leading provider of hydrogen Kind 4 high-pressure cylinders and programs, battery programs and automobile integration options for gasoline cell electrical and battery electrical automobiles. Hexagon Purus merchandise are utilized in a wide range of functions together with gentle, medium and heavy automobiles, buses, land storage, distribution, refueling, maritime, rail and aerospace.

Study extra at www.hexagonpurus.com and comply with @HexagonPurus on Twitter and LinkedIn

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