Hexagon Composites, a global leader in clean energy solutions, and Mitsui & Co., Ltd., one of Japan s leading conglomerates with a broad presence in clean energy and mobility, have renewed their strategic alliance agreement. The extension will remain in effect until the earlier of March 20, 2030, or until Mitsui s shareholding in Hexagon falls below an agreed threshold.

The renewal was formalized in Oslo by Philipp Schramm, CEO of Hexagon Composites, and Katsuto Kawahara, General Manager of Mitsui s Functional Materials Division, underscoring the long-standing partnership between the two companies. Mitsui and Hexagon Composites have developed a close partnership over decades centered around the drive to accelerate and develop composite technology. Mitsui has been a major shareholder since 2016, when the original alliance agreement was signed.

Mitsui s support as a strategic partner and shareholder has been essential to the development of Hexagon, said Schramm. Their industrial expertise and global reach have accelerated the adoption of alternative fuels, and we look forward to further collaboration in driving the energy transition.

Kawahara added: We are pleased to continue our partnership with Hexagon Composites. We believe in the Group s long-term growth and remain committed to supporting its role in advancing clean energy technologies.

Currently, Mitsui holds 33,229,096 shares in Hexagon Composites, representing 15.8% of the company s total shares.

Source: hexagongroup.com