As per ESG Today, 2018-founded Hexagon Purus is the e-mobility unit of Norway-based Hexagon. Purus manufactures clean mobility solutions, such as hydrogen propulsion, battery systems and integrated solutions for fuel cell-powered vehicles. The company covers all types of transport, such as light and heavy-duty vehicles, buses, maritime and aerospace and its operations expand even in the field of ground storage.

The 96 million USD investment, as per company officials, will be used to extend production capacity at its five manufacturing plants, two of which are found in Germany. Hexagon Purus is expected to open a facility in Dallas, Texas, sometime this year, which would be the company's second in the US.

Morten Holum, CEO of Hexagon Purus, said that "we operate in an increasingly supportive regulatory environment with large investments being made into renewable energy generation and hydrogen to support the clean energy transition."

Hydrogen-focused company Hy24 joined in the latest investment round and financed the company alongside Mitsui and Hexagon Composites.