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Hexagon Composites — Regulatory Filings 2021
Mar 17, 2021
3619_rns_2021-03-17_2d0ff284-3b08-4d55-8d6f-266bfbbce387.html
Regulatory Filings
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Hexagon Agility receives order from global automotive manufacturer
Hexagon Agility receives order from global automotive manufacturer
Hexagon Agility has received an order from a global automotive maker to deliver
compressed (renewable) natural gas fuel systems for their heavy-duty fleet, one
of the largest CNG-powered fleets in the United States.
This order represents an estimated total value of USD 6.5 million (approx. NOK
55 million).
The first pilot truck will be completed in March 2021, and the remaining units
will be delivered throughout the second and third quarter of 2021.
"We are pleased to support this global automotive maker in further leveraging
low emission CNG heavy-duty trucks as part of its fleet expansion" said Seung
Baik, President of Hexagon Agility. "In 2020, Hexagon Agility has successfully
enabled its customers to avoid approximately 585,000 tons of greenhouse gas
emissions as a result of deploying trucks using our natural gas fuel systems.
This is roughly equivalent to removing 115,000 fossil fuel cars from the roads
annually," added Mr. Baik.
About the market
Natural gas emits approximately 27% less carbon dioxide when compared to diesel
fuel, according to the U.S. Energy Information Administration. And while
electric powered motors may be viable for passenger cars, CNG and renewable
natural gas (RNG) make more sense for heavy-duty trucks. The technology is
proven and available right now, there is plenty of supply and over 1,000 CNG
fueling stations today across the United States - and this number is growing.
Driving energy transformation
Hexagon Agility's ProCab(®) unit is a high-capacity light-weight system, that
allows trucks to store enough fuel for over 700 miles of driving range without
compromising payload. This is more than the average 605 - 650 miles a driver can
do in a typical 11 hour driving shift.
Trucks featuring Hexagon Agility's CNG fuel systems can interchangeably use
conventional natural gas or renewable natural gas (RNG). The latter is a non-
fossil fuel produced from organic sources including landfills, wastewater
treatment plants. Some forms of RNG, such as that produced from dairy waste, can
even have a carbon negative effect.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | [email protected]
(mailto:[email protected])
Hiva Ghiri, VP IR, Hexagon Composites ASA
Telephone: +47 958 66 790 | [email protected]
(mailto:[email protected])
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
www.hexagonagility.com (http://www.hexagonagility.com) and 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.com and follow @HexagonASA on Twitter and LinkedIn.