Hexagon Purus ASA, a Norwegian company specializing in zero-emission mobility and infrastructure solutions, has agreed to sell its aerospace business, Hexagon Masterworks Inc., to Space Exploration Technologies Corp. (SpaceX). The deal involves the transfer of all shares in Hexagon Masterworks, which produces high-pressure composite storage cylinders used in aerospace and space launch applications across North America.
The transaction excludes the hydrogen business, which will remain with Hexagon Purus. Existing hydrogen customer contracts managed by Hexagon Masterworks are planned to be reassigned within other divisions of Hexagon Purus before the sale is finalized.
**Why this matters**
This divestment enables Hexagon Purus to focus on its core hydrogen mobility activities while allowing SpaceX to expand its capabilities in aerospace storage solutions. The transfer of Hexagon Masterworks supports SpaceX’s ongoing development in space launch technologies.
Source: NewsData