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Hexagon Composites — Regulatory Filings 2021
Aug 18, 2021
3619_rns_2021-08-18_a1cb725d-5e79-41ed-b521-67372aa3cff3.html
Regulatory Filings
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Hexagon Digital Wave signs commercial service agreement to requalify Type-4 cylinders used for transportation of RNG/CNG
Hexagon Digital Wave signs commercial service agreement to requalify Type-4 cylinders used for transportation of RNG/CNG
Hexagon Digital Wave, a business of Hexagon Composites has signed a commercial
service agreement with a North American Type-4 (renewable) natural gas (RNG/CNG)
transportation module OEM. The agreement covers Modal Acoustic Emission (MAE)
requalification of their RNG/CNG modules. MAE enables the requalification of
Type-4 cylinders without removal from the module, resulting in reduced downtime
and operator overhead. The commercial service agreement has a potential value of
USD 2 million (approx. NOK 17 million).
Driving Energy Transformation
"This commercial service agreement is another step in creating a unified
expectation of safety and testing standards in the gaseous transport industry,"
says Ryan Pennock, Head of Marketing and Business Development at Hexagon Digital
Wave. "Our goal is to create a benchmark in digital safety in the compressed gas
transportation sector, a vision OEMs, operators, and end users alike will
benefit from. Signing this commercial service agreement is another step on this
journey.
About the technology
MAE uses advanced electronics and sensors that capture broadband waveforms and
specialty algorithms to identify if there are any structural integrity flaws
present in composite pressure vessels. MAE is compliant to the Department of
Transportation / Pipeline of Hazardous Materials Safety Administration and
Transport Canada regulations. Testing using the MAE technology eliminates
venting of contents to the atmosphere thereby minimizing environmental impact.
A significant increase in customer demand for compressed gas transport is
driving module owners to seek safe, yet time efficient, methods of cylinder
requalification. Hexagon Digital Wave's MAE technology meets these needed
requirements, and when deployed alleviates pain points for owners / operators
and module OEMs alike.
Timing
Requalification is set to begin in the third quarter of 2021.
Contacts:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | [email protected]
(mailto:[email protected])
Hiva Ghiri, VP Investor Relations
Telephone: +47 958 66 790 | [email protected]
(mailto:[email protected])
About Hexagon Digital Wave
Hexagon Digital Wave, a subsidiary of Hexagon Composites ASA, is a manufacturer
of Ultrasonic Examination (UE) cylinder testing equipment, Modal Acoustic
Emission (MAE) testing equipment and a provider of associated inspection
services. With applications worldwide, Hexagon Digital Wave serves government
entities, academic institutes, and private clients in the compressed gas and
pressure vessel industries.
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 the Norwegian Securities Trading Act