A Norwegian company plans to open this year a new installation facility for ion battery packs for trucks in Dallas-Fort Worth.
Hexagon Purus is building out a 216,000-square-foot building at Landmark at the Meadows in Mesquite, according to a Texas Department of Licensing and Regulation filing. The project bears an estimated construction cost of $12 million and includes an anticipated delivery date of August 2024.
The company builds high-pressure cylinders, distribution systems, and fuel storage for hydrogen vehicle systems and battery packs for fuel cell electric and battery electric vehicles. Its markets include passenger vehicles, rail, bus, maritime, aviation, aerospace, and off-highway vehicles. In addition to its Mesquite office, it has operations in California, Maryland, and Nebraska, as well as in Germany, Canada, China, and Norway.
The Hexagon facility is opening at Building 1. Landmark completed construction of that property in 2022. Building 2, a 139,000-square-foot property, is expected to be delivered this year.
Based in Florida, Landmark is behind residential and industrial projects in Grand Prairie, Corinth, North Richland Hills, Allen, and Mansfield.
“2023 has been an exciting and eventful year for Hexagon Purus, where we achieved significant growth from last year,” Hexagon Purus CEO Morten Holum said in an earnings report. “The lion’s share of the investment program is completed, and we are now moving into the ramp-up and operational execution phase. With positive gross margins on customer deliveries, the EBITDA margin will continue to improve as the utilization of the new capacity increases.”
In the fourth quarter of 2023, Hexagon posted revenue of 366 million NOK — or nearly $34.5 million.