Hexagon Purus reported a 44% drop in Q1 2025 revenues, driven by steep declines in hydrogen storage and fuel solution sales.
The Norwegian zero-emission technology provider reported revenues of NOK 230m ($16.65m) in Q1, down 44% on the same quarter in 2024, while its EBITDA loss widened from NOK -97m (-$7m) to NOK -242m (-$23.3m).
The firm attributes the revenue decline to “significantly lower activity” in hydrogen infrastructure and heavy-duty hydrogen applications.
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