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 first set of orders for 2022 delivery under this agreement, which represent an estimated value of USD 17 million (approx. NOK 148 million). Additionally, the orders placed to date in 2021 represent an estimated total value of USD 80 million (approx. NOK 696 million). Further orders are still being received for 2021 delivery.
"We are pleased to see the continued strong commitment from this global customer to transitioning their fleets to cleaner RNG and CNG fuel solutions," says Seung Baik, President, Hexagon Agility. "According to the UN's IPCC Climate report, methane emissions are responsible for approximately 30% of global warming since the pre-industrial area. RNG is a powerful clean energy tool to achieve major cuts in methane and deliver net zero emissions today."
Deliveries of the fuel systems are scheduled to start in the 1st quarter of 2022.
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.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
