Hexagon Agility has received new order for Mobile Pipeline TITAN 53 modules from REV LNG, a leading full-service mobile energy supply and project development company. The modules will be used to transport and deliver renewable natural gas (RNG).
This order represents an estimated value of USD 24.3 million (approx. NOK 211 million).
"With the growing demand for RNG as the key carbon-negative energy source to reduce greenhouse gas emissions (GHG), Mobile Pipeline allows us to meet our customers' demand," said David Kailbourne, President of REV LNG. "Hexagon Agility's high-capacity TITAN 53 modules enhance our ability to serve our customers facing important carbon-reduction targets."
"RNG is one of our greatest levers to combat climate change in the near term and for decades to come," said Seung Baik, President of Hexagon Agility. "RNG enables us to capture harmful methane emissions and reduce our dependency on fossil fuels. We are proud to support our partner REV LNG in their efforts to deliver carbon-negative energy sources to their customers and help drive energy transformation."
About the market
RNG results in significant reductions of GHG when compared to other clean energy solutions available today. Our Mobile Pipeline modules enable the capture and collection of agricultural RNG, which has the lowest carbon intensity compared to any of the RNG sources. In North America, RNG is supported by abundant natural gas pipeline infrastructure which allows for immediate use, and for decades to come. We are driving the adoption of RNG to cost effectively combat climate change.
Timing
Deliveries of the modules are scheduled to start in the fourth quarter of 2022.
For more information:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About REV LNG
REV LNG is a full-service supplier of liquid natural gas.
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.
