Hexagon Composites Acquires SES to Boost Hydrogen Storage Capacity in Europe

Hexagon Composites ASA is gearing up for a major move in the clean fuel space, striking a deal to take full control of Sustainable Energy Solutions (SES) from Worthington Enterprises. The acquisition, valued at EUR 11.7 million, is all about boosting Hexagon’s manufacturing strength in Europe—especially when it comes to making a real impact in sustainable energy and industrial decarbonization.

Powering Up in Europe’s Clean Fuel Market

SES isn’t new to this game. The company produces high-pressure gas cylinders—the kind used for hydrogen storage, LPG, and CNG—and it operates out of two key sites: Słupsk, Poland, and Burscheid, Germany. This latest deal builds on a joint venture started back in May 2024. Now, Hexagon is bringing SES fully under its wing.

As part of the transaction, Worthington Enterprises will receive a combination of shares in both Hexagon Composites and Hexagon Purus. The total package? That nets out to around EUR 6.1 million. Not a bad way to wrap up a partnership and kickstart the next phase of growth.

Boosting Capacity and Market Access

Looking ahead, SES is expected to deliver around EUR 33 million in revenue in 2025. For Hexagon, that’s not just added revenue—it’s more composite gas cylinders rolling off production lines and better access to key OEM customers across Europe. And at a time when Europe is charging toward zero-emissions targets, that extra capacity couldn’t come at a better moment.

Positioning for the Energy Transition

With hydrogen tech gaining serious traction, Hexagon is doubling down on developing fully integrated, hydrogen-ready storage solutions. The company’s lining itself up to become a go-to player in the race to build a more efficient, scalable clean fuel infrastructure. This acquisition is more than just a business deal—it’s a signal that the shift to a greener future is accelerating, and Hexagon plans to be right at the center of it.