Hexagon Composites

Regulatory Filings • May 13, 2025

Hexagon Agility reaches milestone with additional orders for natural gas fuel systems for Cummins X15N powered trucks

Hexagon Agility reaches milestone with additional orders for natural gas fuel systems for Cummins X15N powered trucks

13 May 2025: Hexagon Agility, a subsidiary of Hexagon Composites ASA (OSE:

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

has over the past months received new orders for natural gas fuel systems

installations on trucks powered by Cummins' X15N natural gas engine, designed

specifically for the North American heavy-duty commercial truck market.

The new orders are valued at USD 4.3 million (approx. NOK 45 million) and

include over 20 leading Class 8 fleets. This brings the total accumulated value

of orders that Hexagon Agility has received for natural gas fuel systems for

X15N powered trucks to USD 20 million, including the UPS order announced in May

2024 and orders announced in October 2024.

At the end of April 2025, Daimler Truck North America officially announced it

had opened orders for Freightliner Cascadia trucks equipped with the Cummins

X15N. Daimler, Kenworth and Peterbilt, the three leading Class 8 truck OEMs in

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

"Despite freight market and macro-economic uncertainty, we see a strong uptick

in the interest for natural gas solutions," says Eric Bippus, Chief Commercial

Officer at Hexagon Composites. "The new 15-liter engine (X15N) is now enabling

fleets to access the fuel cost and emissions reduction benefits of natural gas,

with performance that matches diesel 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 has unlocked a whole new segment of the truck

market previously constrained to just diesel fuel."

The North American truck market

Approximately 300,000 heavy-duty trucks are sold annually in the North American

market. Previously, 100,000 of these trucks made up the addressable market for

natural gas solutions. Now with the X15N, there are natural gas engines

available today that are well-suited for every operation, haul and load

requirement a fleet may have, adding 200,000 heavy-duty trucks to the

addressable market for CNG/RNG annually.

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.

Natural gas trucking is supported by a robust network of over 1,600 public and

private CNG/RNG fueling stations across key transport corridors in North

America.

Contacts:

Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites

Telephone: +47 988 92 161 | berit-cathrin.hoyvik@hexagongroup.com

David Bandele, CFO, Hexagon Composites

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 bulk gas transportation. Its

product offerings include (renewable) natural gas bulk distribution systems of

compressed gases, lightweight 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 lowering 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 and industrial applications. Learn more at

hexagongroup.com and follow @HexagonASA on LinkedIn.