Hexagon Composites

Regulatory Filings • Jul 26, 2023

Correction: Hexagon Agility receives orders for Mobile Pipeline® and RNG fuel systems from major refuse fleet in North America

Correction: Hexagon Agility receives orders for Mobile Pipeline® and RNG fuel systems from major refuse fleet in North America

26 July 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received

orders for Mobile Pipeline(®) modules and renewable natural gas (RNG) fuel

systems at a total value of USD 31 million (approximately NOK 310 million) from

a major refuse fleet in North America. The modules will be used in mobile

refueling of the company's growing fleet of RNG vehicles.

"We applaud our customer for their continued commitment to reduce emissions

through use of renewable natural gas," said Miguel Raimao, Vice President of

Mobile Pipeline at Hexagon Agility. "These orders demonstrate the great synergy

across our product portfolio. Our mobile refueling modules enable fleets to

accelerate adoption of natural gas vehicles at locations lacking fueling

infrastructure. Conversely, the growing demand for natural gas vehicles is

driving the need for mobile refueling solutions."

About the market

RNG results in the greatest reduction of greenhouse gas emissions of any clean

energy solution available today in the transport sector. In addition, RNG is

supported by a vast pipeline infrastructure in North America, allowing for

immediate deployment of this cost effective and commercially available

technology. Research shows that RNG derived from agricultural waste can offer

more than 200% improvement in well-to-wheel emissions compared to diesel and is

the only carbon negative fuel available.

According to NGVAmerica and the Coalition for Renewable Natural Gas, in

2022, 69% of all on-road fuel used in natural gas vehicles was RNG. This number

grew by 17% compared to 2021 volumes, increasing 218% over the last five years.

Timing

Deliveries of the fuel systems are scheduled to start in the fourth quarter of

For more information:

Karen Romer, SVP Communications, Hexagon Composites ASA

Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

(mailto:karen.romer@hexagongroup.com)

Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA

Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com

(mailto:ingrid.aarsnes@hexagongroup.com)

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 (renewable) natural gas storage and

distribution systems, Type 4 composite natural gas cylinders, propane, and

(renewable) natural gas fuel systems. These products transport clean gaseous

fuels and enable vehicles to reduce emissions while saving operating costs.

Learn more at 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

hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.