Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in June 2020 with a global logistics customer to deliver renewable natural gas (RNG) and compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks.
Hexagon Agility received its eighth set of orders in 2021 under this agreement, which represent an estimated value of approximately USD 12 million (approx. NOK 105 million). Collectively, the orders placed for delivery in 2021 represent an estimated total value of USD 80 million (approx. NOK 704 million).
"RNG contributes to significant GHG emission-reduction and we see more and more fleets responding to the potential to further reduce emissions." said Seung Baik, President, Hexagon Agility. "According to a recent report by the State of Sustainable Fleets, nearly 90% of surveyed fleets currently operating natural gas vehicles state they intend to use RNG in the next year and this trend is expected to continue beyond 2021."
Deliveries of the fuel systems are scheduled to start in the 4th 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 (renewable) natural gas storage and delivery systems, Type 4 composite (renewable) natural gas cylinders, propane, and 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.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
