28 June 2023: As previously disclosed, Hexagon Agility, a business of Hexagon
Composites, signed a master services agreement in October 2019 with UPS, the
world's premier package delivery company and a leading provider of global supply
chain management solutions, to supply renewable natural gas (RNG) fuel systems
for medium- and heavy-duty trucks.
Under this agreement, Hexagon Agility has received additional 2023 orders of USD
20.9 million (approx. NOK 225 million) for delivery of RNG fuel systems for
heavy- and medium-duty trucks. This is in addition to the USD 19 million
(approx. NOK 205 million) of previously announced orders from February 2023.
"We are pleased to support UPS' continued commitment to transition its fleet to
RNG resulting in greater emission reductions," said Eric Bippus, EVP Sales and
Systems Development at Hexagon Agility. "Together, we are paving the way for a
cleaner and greener future."
About the market
RNG results in significant reductions of greenhouse gas (GHG) emissions when
compared to other clean energy solutions available today. In North America, RNG
is supported by abundant natural gas pipeline infrastructure which allows for
its immediate use today, and for decades to come. Hexagon Agility is enabling
the adoption of RNG to cost effectively combat climate change.
Timing
Deliveries of the new orders will commence in the third quarter of 2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | 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.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act