Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an
order for TITAN® gas transport modules by NG Advantage, a leading provider of
virtual pipeline services in the U.S. The order has a value of USD 4.2 million
(approx. NOK 38 million).
Hexagon's Mobile Pipeline® modules will support NG Advantage's continued
expansion in the northeastern U.S. and help facilitate the delivery of
compressed natural gas to natural gas utilities, hospitals, and large industrial
end users.
"We are pleased to continue our partnership with NG Advantage, a leading player
and owner of mobile pipeline modules in the U.S.," says Jon A. Smith, President
of Hexagon Mobile Pipeline. "We continue to see new energy transformation
opportunities for CNG to meet the growing demand for cleaner and more efficient
energy use, as well as accelerate carbon reduction for our partners."
"We took delivery of our first TITAN® module in 2012 and built NG Advantage into
a leading mobile pipeline service provider. Hexagon has been a trusted partner
in our growth and TITAN® laid the foundation of our fleet," says Rico Biasetti,
CEO of NG Advantage. Biasetti adds, the TITAN® module's leading-edge technology
enables us to safely and reliably deliver CNG to our customers."
Since its inception, NG Advantage has delivered over 19 billion cubic feet (538
million cubic meters) of CNG to customers in Maine, Massachusetts, New
Hampshire, New York, and Vermont. By making the switch to natural gas from other
fuels, customers have substantially reduced their CO2 emissions. In 2018, NG
Advantage's customers avoided the emission of 163,770,944 pounds (74,285 metric
tons) of CO2, the equivalent of taking 15,772 cars off the road.
The order includes delivery of TITAN® 53 modules as well as rental of TITAN® XL
modules.
Deliveries of the TITAN® modules are scheduled for the fourth quarter of 2019.
For more information:
Jon A. Smith, President, Hexagon Mobile Pipeline
Telephone: +1 402 470 4045 | jon.smith@hexagongroup.com
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
Solveig D Saether, Communication Manager, Hexagon Composites
Telephone: +47 906 34 977 | solveig.saether@hexagongroup.com
About NG Advantage
NG Advantage provides the economic and environmental benefits of clean-burning
natural gas to power generators, gas utilities, and large industrial end users
that do not have sufficient supply from pipeline natural gas. NG Advantage is a
leading provider of virtual pipeline service in the country and pioneered
trucking both compressed natural gas and renewable natural gas using one of the
largest virtual pipeline trailer fleets in the US. The company's current
customers include gas utilities - where NG Advantage provides pipeline pressure
and capacity support - regional hospitals, paper mills, asphalt plants, food
processors, industrial dry cleaners, and manufacturing facilities. Majority-
owned by Clean Energy Fuels, NG Advantage has the ability to offer RNG to
customers through its partnership with Vermont Gas Systems.
Learn more at www.ngadvantage.com (http://www.ngadvantage.com) and follow
@ngadvantage.com (http://t.co/Qbfjt2CF5M) on Twitter and LinkedIn
About Hexagon Composites
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
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act