26 July 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received
orders for Mobile Pipeline(®) modules and fuel systems from a major refuse fleet
in North America. The modules will be used in mobile refueling of the company's
growing fleet of renewable natural gas (RNG) vehicles.
Total orders received to date represent an estimated value of USD 31 million
(approx. NOK 310 million).
"We applaud our customer for their continued commitment to reduce emissions
through use of renewable natural gas," said Miguel Raimao, Vice President of
Mobile Pipeline at Hexagon Agility. "These orders demonstrate the great synergy
across our product portfolio. Our mobile refueling modules enable fleets to
accelerate adoption of natural gas vehicles at locations lacking fueling
infrastructure. Conversely, the growing demand for natural gas vehicles is
driving the need for mobile refueling solutions."
About the market
RNG results in the greatest reduction of greenhouse gas emissions of any clean
energy solution available today in the transport sector. In addition, RNG is
supported by a vast pipeline infrastructure in North America, allowing for
immediate deployment of this cost effective and commercially available
technology. Research shows that RNG derived from agricultural waste can offer
more than 200% improvement in well-to-wheel emissions compared to diesel and is
the only carbon negative fuel available.
According to NGVAmerica and the Coalition for Renewable Natural Gas, in
2022, 69% of all on-road fuel used in natural gas vehicles was RNG. This number
grew by 17% compared to 2021 volumes, increasing 218% over the last five years.
Timing
Deliveries of the fuel systems are scheduled to start in the fourth quarter of
2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
(mailto:karen.romer@hexagongroup.com)
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
(mailto: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.
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