9 November 2022: Hexagon Agility, a business of Hexagon Composites, received a new order from Xpress Natural Gas LLC (XNG), a leading full-service provider of compressed natural gas (CNG) in the United States, to deliver Mobile Pipeline modules to transport clean and renewable natural gas (RNG).
This order has an estimated value of USD 14.8 million (approx. NOK 150 million).
Delivering safe and innovative solutions
"We look forward to continuing to grow our relationship with Hexagon Agility as a key supplier to XNG as we work to provide safe, reliable cleaner energy solutions to an increasing number of customers and sectors unserved by traditional energy pipelines" said Simon Richards, Chief Executive Officer at XNG. We're really pleased to continue to expand our fleet with Hexagon Agility's Mobile Pipeline products. "TITAN 53 modules, allow us to safely and efficiently deliver CNG to communities with the fewest number of trips. As we continue to expand our market areas Hexagon products give us the flexibility to serve all types of industries and end users seeking a lower carbon, less expensive energy solution."
No pipeline. No problem. TITAN 53 modules offer the highest capacity in North America and can serve multiple communities and industries that do not have access to natural gas or lack sufficient pipeline capacity to meet anticipated demand.
"The Northeastern part of the United States continues to struggle from a lack of infrastructure to deliver natural gas to the region" said Seung Baik, President of Hexagon Agility. "The winter season is particularly challenging. We are pleased to work with XNG to help keep homes warm and factories running."
About the market
Mobile Pipeline is vital to driving energy transformation away from petroleum fuels to clean and renewable natural gas. Companies like XNG are 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. RNG is pipeline quality gas fully compatible with today's infrastructure and Mobile Pipeline equipment. Because RNG is the only carbon negative energy source, it is being rapidly adopted to drive decarbonization of industrial and vehicle fleet operations.
With more than 1,800 Mobile Pipeline modules now deployed around the world, Hexagon Agility continues to set the standard for safety, reliability, and performance.
Timing
The modules are expected to be delivered in the second quarter of 2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
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
Seth Berry, Chief Development Officer, Xpress Natural Gas LLC
Telephone: 508-846-8200 | sberry@xng.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 hexagonagility.comand 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 hexagongroup.comand follow @HexagonASA on Twitter and LinkedIn.
