Hexagon Agility has received an order for Mobile Pipeline modules from Xpress Natural Gas LLC (XNG), a leading full-service provider of compressed and renewable natural gas in the United States. TITAN 53 modules offer the highest capacity in North America and will serve multiple projects to communities and industries that do not have access to natural gas or lack sufficient pipeline capacity to meet anticipated demand.
This order represents an estimated total value of USD 8.0 million (approx. NOK 68 million).
"We were the launch customer for Hexagon Agility's TITAN53 and they have been a game changer for us. The higher capacity and lower cost of ownership have allowed us to optimize our dispatch reliability and significantly reduce the number of trips required to serve our customers," said John Nahill, CEO and co-founder of XNG. "The partnership with Hexagon Agility has enabled us to deliver exceptional customer service while driving safety, reliability, and reducing our own carbon footprint."
About the market
Mobile Pipeline is vital to driving energy transformation away from petroleum fuels to clean and renewable natural gas. Companies like XNG have been leaders in the industry, enabling customers without pipeline access to adopt natural gas and meet their environmental goals. Natural gas is today's low carbon, cost effective alternative energy. Renewable natural gas sourced from organic material is fully compatible with today's infrastructure and Mobile Pipeline equipment and is being rapidly adopted to drive decarbonization of industrial and vehicle fleet operations. With more than 1,700 Mobile Pipeline modules now deployed around the world, Hexagon Agility continues to set the standard for safety, reliability, and performance.
"We appreciate our long partnership with XNG in driving energy transformation. They were one of the pioneers of Mobile Pipeline and operating their fleet on clean CNG," said Seung Baik, President of Hexagon Agility. "Our mutual success is the result of a shared common vision of Clean Air Everywhere."
Timing
The modules are expected to be delivered in the fourth quarter of 2021.
For more information:
Karen Romer, SVP Communications, Hexagon Composites, Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Hiva Ghiri, VP Investor Relations, Hexagon Composites, Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
About Xpress Natural Gas
Founded in 2011, XNG provides an alternative energy source for businesses without access to a gas pipeline. By transporting compressed natural gas in both the U.S. and Canada, XNG provides a consistent and reliable, low-carbon energy source for its broad customer base. The company's business model enables CNG to be delivered to over 40 customer sites around the clock, 365 days a year. As a leading provider of CNG, the company is positioned for exponential growth in customer installments throughout 2021 and beyond. For more information about Xpress Natural Gas: www.xng.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.comand follow us on social media.
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
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
