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Hexagon Composites — Environmental & Social Information 2019
Oct 9, 2019
3619_rns_2019-10-09_b279da3f-8428-4448-bd3d-2e09fa24101a.html
Environmental & Social Information
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Agility Fuel Solutions extends long-term agreement with UPS
Agility Fuel Solutions extends long-term agreement with UPS
Agility Fuel Solutions, a business of Hexagon Composites, has signed an
exclusive three-year agreement with the global leader in logistics, UPS to
supply compressed natural gas (CNG) fuel systems for medium and heavy-duty
trucks as well as terminal tractors. The agreement represents a total value of
USD 65 million to USD 95 million (approx. NOK 595 to 870 million) over the
three-year period.
"We are proud to continue our collaboration with UPS, a front-runner in clean
transportation," says Seung Baik, President of Agility Fuel Solutions. "With our
range of proven and reliable clean fuel technologies and aftermarket support
capabilities, we will assist UPS in reaching its sustainability targets."
As part of the new agreement, Agility will provide complete end-to-end natural
gas systems for heavy-duty gas trucks, terminal tractors and medium-duty walk-in
vans, which are UPS's familiar brown delivery trucks. These will include on-
board CNG fuel storage and management as well as Agility's certified natural gas
engine fuel systems.
"UPS continues to expand and improve our smart logistics network by implementing
new technologies and creating a highly flexible, data-driven, and sustainable
network," says Juan Perez, Chief Information and Engineering Officer at UPS.
"That is why we intend for 25 percent of our vehicles purchased in 2020 to run
on alternative fuels."
For more information:
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | [email protected]
(mailto:[email protected])
Seung Baik, President, Agility Fuel Solutions
Telephone: +1 949 236 2251 | [email protected] (mailto:[email protected])
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | [email protected]
(mailto:[email protected])
About UPS
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of
solutions including transporting packages and freight; facilitating
international trade, and deploying advanced technology to more efficiently
manage the world of business. UPS is committed to operating more sustainably -
for customers, the environment and the communities we serve around the world.
Headquartered in Atlanta, UPS serves more than 220 countries and territories
worldwide.
Learn more at www.ups.com or www.pressroom.ups.com and follow @UPS_News on
About Agility Fuel Solutions
Agility Fuel Solutions, a wholly-owned subsidiary of Hexagon Composites ASA, is
a leading global provider of clean fuel solutions for medium- and heavy-duty
commercial vehicles. Its product offerings include natural gas, hydrogen, and
battery electric energy storage and delivery systems, Type 4 composite natural
gas cylinders, propane and natural gas fuel systems, and propane dispensers.
Agility has been manufacturing and servicing safe and reliable clean fuel
solutions for commercial vehicle fleets and OEMs for more than 20 years, logging
billions of miles on the road per year.
Learn more at www.agilityfuelsolutions.com and follow @AgilityFuel 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
This information is subject to the disclosure requirements pursuant to section
5 -12 of the Norwegian Securities Trading Act.