Hexagon Composites ASA (OSE: HEX.OL), a leading global provider of clean energy solutions, has extended its strategic alliance agreement with Japan-based trading and investment firm Mitsui & Co., Ltd. through to March 2030, or until Mitsui's shareholding in Hexagon falls below a predefined level.

The agreement, signed on August 12, 2025 in Oslo, Norway, by Philipp Schramm, CEO of Hexagon Composites, and Katsuto Kawahara, General Manager at Mitsui, marks a continued commitment to advancing composite technologies and accelerating the global energy transition.

The two companies have been partners since 2016, with Mitsui maintaining a strategic shareholding in Hexagon. As of now, Mitsui holds 33,229,096 shares, equivalent to 15.8% of Hexagon's total share capital.

"Mitsui's support as a strategic partner and shareholder has been essential to the development of Hexagon," said Philipp Schramm. "We look forward to continuing to leverage our synergies to drive the energy transition forward."

"We remain a strategic partner to Hexagon Composites and believe in the Group's long-term growth," added Katsuto Kawahara of Mitsui.

The renewed alliance aims to reinforce both companies' positions in the clean energy and mobility sectors, particularly in the development and deployment of advanced composite technologies used in alternative fuel systems.