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. The first order
received related to this customer in 2021 represents an estimated total value of
USD $6.8 million (approx. NOK 58 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 proud to be a preferred supplier to this global customer as they
demonstrate their commitment to clean fuel. 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.
Deliveries of the fuel systems are scheduled to start in the second quarter of
2021.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47?950 74 950 | karen.romer@hexagongroup.com
Hiva Ghiri, VP IR, Hexagon Composites ASA
Telephone: +47 958 66 790 | hiva.ghiri@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 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.