Hexagon Composites

Regulatory Filings • Oct 30, 2024

Hexagon Agility receives new wave of RNG fuel system orders for Class 8 Series trucks with Cummins X15N natural gas engine

Hexagon Agility receives new wave of RNG fuel system orders for Class 8 Series trucks with Cummins X15N natural gas engine

30 October 2024: Hexagon Agility, a subsidiary of Hexagon Composites ASA (OSE:

HEX.OL) and the world's leading provider of (renewable) natural gas (RNG/CNG)

fuel systems, has announced a new wave of orders valued at USD 4.3 million.

These orders are for RNG/CNG fuel system installations in trucks powered by

Cummins' X15N natural gas engine, designed specifically for the North American

heavy-duty commercial truck market.

The new orders include over 30 leading Class 8 fleets of which 40% are new

adopters of RNG/CNG.

Currently, Kenworth and Peterbilt, two of the top three Class 8 truck OEMs in

North America, offer natural gas truck options powered by the X15N engine.

Daimler has stated it will start production of its X15N-equipped trucks in 2025.

"With the new 15-liter engine (X15N), RNG trucks now match diesel-like

performance in both power and range. Equipped with a fuel system from Hexagon

Agility, Class 8 trucks with the X15N can achieve a range of up to 1,200 miles.

This unlocks a whole new segment of the truck market enabling cost savings and

emission reduction benefits that an RNG truck offers," says Eric Bippus, EVP of

Sales and Systems Development at Hexagon Agility. "Following on the heels of

positive piloting programs, the breadth of fleets placing new orders and the

high quoting activity we are experiencing, signifies that the market is

embracing this technology as expected."

Natural gas goes head-to-head with diesel in the heavy-duty sector

The X15N natural gas engine by Cummins is designed to deliver a range of long

-haul applications similar to diesel, while significantly reducing emissions.

Powered by RNG/CNG, the X15N is capable of meeting stringent EPA and CARB

regulations in 2024 and 2027.

The North American truck market

Approximately 330,000 heavy-duty trucks are sold annually in the North American

market. Currently, 100,000 of these trucks make up the addressable market for

RNG/CNG solutions. The 9- and 12-liter natural gas engines available today are

well-suited for vocational and day cab regional haul applications. This is

supported by a robust network of over 1,600 public and private RNG/CNG fueling

stations across key transport corridors in North America.

With power ratings up to 500 hp (~370 kW) and torque up to 1850 lb.-ft (~2500

Nm), the X15N engine meets the needs of long haul/heavy load demands for high

horsepower and offers a range of up to 1,200 miles (2,000 km), matching the

capabilities of diesel. This expansion adds 230,000 heavy-duty trucks to the

addressable RNG/CNG market annually.

For more information, please contact:

Karen Romer, SVP Communications, Hexagon Composites ASA

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

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | david.bandele@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, 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 X 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 X and LinkedIn.