Hexagon Composites — Regulatory Filings 2018

Feb 15, 2018

Hexagon expands its Mobile Pipeline® business into the maritime industry

Hexagon expands its Mobile Pipeline® business into the maritime industry

Hexagon Composites' subsidiary Hexagon Lincoln has been awarded to supply high-

pressure CNG TITAN® tanks for fuel storage onboard a LNG (Liquefied Natural Gas)

gas supply vessel (GSV) being built for Babcock Schulte Energy. The TITAN®

cylinders will store compressed boil-off-gas from the LNG tanks and flash gas

from cargo operations and supply the CNG as fuel to the ship's dual-fuel

propulsion engines.

The boil-off-gas recovery system is designed by the UK based company, Babcock

LGE Process, a market leader in specialized systems for handling, storage and

distribution of liquefied gases in both the marine and onshore sectors. The

TITAN® cylinders are an integral part of the ship's patent pending FGSV0(TM)

system, developed by Babcock LGE Process, to enable the LNG bunker vessel to

meet the emission limits of the IMO Emission Control Areas (ECA) regulations.

"By compressing the boil-off and flash gas and supplying it as fuel to the

ship's engines, our clients will save distillate fuel costs and at the same time

reduce the vessel's emissions of sulphur oxides (SOx) and particulate matter

(PM)," said Andrew Scott, General Manager at Babcock LGE Process. "In addition,

we eliminate fugitive emissions of LNG from the cargo systems, providing a true

zero emissions solution."

"We're really pleased to have been chosen by Babcock LGE Process to work on this

cutting-edge project. Babcock's boil-off-gas recovery system is an innovative

way of meeting stringent emission regulations. It is a cost-effective way for

vessel operators to address environmental concerns, and our TITAN® tanks are a

key enabler for achieving this," said Miguel Raimao, Vice President Mobile

Pipeline® Americas at Hexagon Lincoln. "TITAN® remains the industry leader for

large scale Type 4 storage vessels; it's the only marine scale solution that

combines lightweight with high pressure performance."

"This order marks our expansion of our Mobile Pipeline® solutions into high-

horsepower fuel systems and the maritime application, which we see as a great

future market opportunity," said Jack Schimenti, President of Hexagon Lincoln.

The maritime class acceptance for this project is performed by Lloyds Register.

For more information:

Jack Schimenti, President, Hexagon Lincoln LLC

Telephone: +1 402 430 3863 | jack.schimenti@hexagonlincoln.com

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | david.bandele@hexagon.no

Solveig D Saether, Communication Manager, Hexagon Composites ASA

Telephone: +47 906 34 977 | solveig.saether@hexagon.no

About Babcock International Group PLC

For more than a century, Babcock has been trusted to deliver bespoke, highly-

skilled engineering services. We help customers in the UK and around the world

to improve the capability, reliability and availability of their most critical

assets within the four market sectors of Marine, Land, Aviation, and Nuclear,

underpinned by a deep understanding of technology integration, unique

infrastructure, and specialist training.

About Hexagon Composites

Hexagon Composites delivers safe and innovative solutions for a cleaner energy

future. We are adapting our leading composite pressure vessel technology for a

wide range of mobility and storage applications. The energy transition towards a

low-carbon society is constantly opening up exciting growth opportunities for

us.

For more information: www.hexagon.no

Follow us on Twitter: @HexagonASA