With the successful completion of its recent NOK 1.6 billion financing package, Hexagon Composites has established a solid financial platform for further organic growth. All of Hexagon’s businesses are addressing energy related opportunities and are benefiting from increased focus on lower carbon emissions. The ongoing push towards a cleaner and safer energy future is driving strong market growth.
Hexagon recently raised approximately NOK 0.5 billion through a private placement representing approximately 10% of new share capital. The new capital will be used for continued development of growth opportunities across all of Hexagon’s business areas, especially towards hydrogen opportunities and new market development.
In addition, the company has successfully secured a NOK 1.1 billion bond issue at attractive terms, completing the financing of the recent acquisition of Agility Fuel Solutions.
“With the recent acquisitions of Agility Fuel Solutions and Digital Wave, Hexagon has become an even stronger force in driving the energy transformation towards cleaner energy sources. In 2018, we sharpened our focus on the significant opportunities within hydrogen resulting in our largest ever OEM contracts. In 2019, the Agility acquisition will drive value from an increased portfolio of solutions for cleaner air, at all times maintaining a strong financing and balance sheet structure,” said David Bandele, CFO of Hexagon.
Hexagon will continue investing in technological development, innovation and commercial capacity to maintain and strengthen its position in all business areas to capture the attractive market opportunities lying ahead.
Source: Hexagon Composites