10 August 2023: As previously disclosed, Hexagon Agility, a business of Hexagon
Composites, signed a multi-year agreement in March 2021 with Certarus, a leading
full-service provider of bulk gas transport, to supply Mobile Pipeline(®)
modules for compressed gases.
Under this agreement, Hexagon Agility has received an additional order estimated
at USD 54 million (approx. NOK 553 million). This is the largest single order
for Mobile Pipeline ever received.
As the industry leader, Certarus enables customers without pipeline access to
transition to lower carbon energy, including compressed natural gas, renewable
natural gas (CNG/RNG), and hydrogen rapidly driving customer decarbonization.
"We are accelerating the adoption of low carbon fuels with use of Hexagon
Agility's next generation TITAN modules," said Curtis Philippon, President and
CEO of Certarus. "The demand for our offering continues to rapidly grow as
customer urgency to reduce emissions and secure reliable energy cost effectively
is consistently driving us to improve our capabilities and scale our platform.
The TITAN modules have been the backbone of our fleet and we are excited to
expand our operations with the new TITAN 450 that will allow us to deliver more
gas with fewer trips.
Driving energy transformation
"We're proud to have worked with Certarus for over a decade to drive energy
transformation," said Miguel Raimao, Vice President of Mobile Pipeline at
Hexagon Agility. "Our newest innovation, the TITAN 450, is a game-changer. It
expands our portfolio of gas transport solutions at a critical time when the
world is increasingly turning to RNG as an immediate and cost-effective carbon
negative solution."
The new modules will be used by Certarus to transport CNG/RNG to decarbonize
industrial applications; provide critical utility support during demand peaks
and pipeline outages and connect RNG production facilities to natural gas
pipelines.
Higher capacity, lighter design, lower emissions
TITAN 450 enables the safe transport of almost half a million standard cubic
feet of CNG/RNG in a 40-foot module, resulting in a lower carbon footprint and
reduced operating costs. The new product employs the latest technology in Type
4 composite cylinders and high-strength frame design. It delivers 25% greater
gas capacity, while being 20% lighter in the same 40-foot length.
As with the current generation of TITAN products, the modules are approved for a
variety of gases including CNG, RNG, Helium, and Hydrogen.
Timing
Deliveries of the new orders will commence in Q1 2024.
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 Certarus
Certarus is the North American leader in providing on-road low carbon energy
solutions through a fully integrated CNG, RNG, and hydrogen platform. Certarus
operates the largest virtual pipeline fleet in North America, with over 730
trailers by the end of 2023, to safely deliver clean burning fuels to energy,
utility, agricultural and industrial customers not connected to a pipeline. By
displacing more carbon intensive fuels, Certarus is leading the energy
transition and helping customers lower operating costs and improve environmental
performance. With the largest fleet of mobile storage units in North America,
Certarus is uniquely positioned to meet the growing demand for low and zero
emission energy distribution. Learn more at certarus.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. Its
product offerings include (renewable) natural gas storage and distribution
systems, 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 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 considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
release was published by Ingrid Aarsnes, VP IR & ESG, Hexagon Composites ASA on
10 August 2023 at 06:44 am CEST.
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