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Hexagon Composites — Regulatory Filings 2021
Mar 2, 2021
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Regulatory Filings
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Hexagon Agility receives another significant order from major global logistics customer for CNG trucks
Hexagon Agility receives another significant order from major global logistics customer for CNG trucks
Hexagon Agility, a business of Hexagon Composites, signed a master services
agreement in June 2020 with a global logistics customer to deliver compressed
natural gas (CNG) fuel systems for medium and heavy-duty trucks.
Hexagon Agility received the second order in 2021 which represents an estimated
total value of USD $6.7 million (approx. NOK 57.4 million). Deliveries
of the fuel systems are scheduled to start in the first quarter of 2021.
Collectively the two orders placed in 2021 represent an estimated total value of
USD 13.5 million (approx. NOK 116 million).
As a low carbon fuel, CNG can result in reductions of greenhouse gas (GHG)
emissions compared to diesel of over 20% when using conventional natural gas, or
90% or more when using renewable natural gas (RNG) produced from landfills,
dairy farms and other bio sources.
"We are very pleased to see the strong commitment from this global customer as
they demonstrate their dedication to transitioning their fleet to clean
fuels. CNG and RNG play an important role in the future
of commercial trucking. Sustainable fleets are at an inflection point
and it makes both environmental and economic sense to deploy natural gas trucks
right now, and the low cost and maturity of the technology make it possible to
do so at a large scale," said Seung Baik, President, Hexagon Agility.
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 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.