6 December 2022: Hexagon Agility, a business of Hexagon Composites, has received a new order for TITAN 53 Mobile Pipeline 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) from multiple sites within the US.
This order represents an estimated value of USD 16.2 million (approx. NOK 158 million).
"To meet aggressive greenhouse gas reduction targets, our customers continue to expand their energy portfolios through the use of RNG as the solution to fight climate change," said David Kailbourne, President of REV LNG. "We continue to invest in Hexagon Agility's high-capacity TITAN 53 modules because their proven reliability has allowed us to rapidly expand our RNG portfolio to support customer demand."
"RNG is the only carbon negative energy source and is key to reducing harmful methane emissions," said Seung Baik, President of Hexagon Agility. "We applaud REV LNG for its ongoing expansion into the market and look forward to continuing to support their efforts."
About the market
RNG results in significant reductions of greenhouse gas (GHG) emissions when compared to other clean energy solutions available today. Hexagon Agility's Mobile Pipeline modules enable the capture and collection of RNG from farms not located near natural gas infrastructure. In North America, RNG is supported by abundant natural gas pipeline infrastructure which allows for immediate use today, and for decades to come. Hexagon Agility is enabling the adoption of RNG to cost effectively combat climate change.
Timing
Deliveries of the Mobile Pipeline modules are scheduled to start in the third quarter of 2023.
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 includeand 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.comand follow @HexagonASA on Twitter and LinkedIn.
