Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in June 2020 with a global logistics customer to deliver compressed natural gas (CNG) and renewable natural gas (RNG) fuel systems for medium and heavy-duty trucks.
Hexagon Agility received its seventh set of orders in 2021 under this agreement, which represent an estimated value of USD 8 million (approx. NOK 66 million). Collectively, the orders placed in 2021 represent an estimated total value of USD 68 million (approx. NOK 562 million).
"To achieve a meaningful and immediate impact on climate change, we need cleaner trucks and buses on our roadways now," said Seung Baik, President, Hexagon Agility. "NGVA recently reported that, in 2020, 92% of all on-road fuel used in natural gas vehicles in California was renewable natural gas (RNG). And for the first time, we saw California fleets fueled with RNG achieve carbon-negative footprint, removing more CO2 from the atmosphere than they emitted. This is evidence of the essential role RNG plays in achieving carbon neutrality today."
Deliveries of the fuel systems are scheduled to start in the 3rd quarter of 2021.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Hiva Ghiri, VP IR, Hexagon Composites ASA Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Its product offerings include natural gas storage and delivery systems, Type 4 composite natural gas cylinders, propane, and natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at www.hexagonagility.com and follow @HexagonAgility on Twitter and Linkedin.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
