30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has
received an inaugural order for Mobile Pipeline(®) TITAN 450 modules from
Promigas Peru, a subsidiary of Promigas and a leading energy distributor of
natural gas for the Peru market.
The order represents an estimated value of USD 9 million (approx. NOK 100
million).
Promigas Peru enables customers without pipeline access to transition to lower
carbon energy. The new TITAN 450 modules will complement Promigas Peru's current
virtual pipeline fleet, enhancing its ability to distribute natural gas safely
and economically to La Libertad, Cajamarca, Lambayeque and Ancash - all regions
in Northern Peru with limited pipeline infrastructure.
"We're excited to be selected by Promigas Peru to support the decarbonization of
the industrial sector. Our Mobile Pipeline solutions have enabled the safe
distribution of compressed natural gas throughout Latin America" says Nicolas
Reyes, Director of Sales and Business Development Latin America at Hexagon
Agility. "With deployment of our latest Mobile Pipeline innovation, Hexagon
Agility and Promigas Peru are driving the transformation to cleaner and more
affordable energy in Latin America.
Hexagon Agility has delivered safe, high-capacity modules into Latin America for
the past ten years and has more than 300 Mobile Pipeline units in service
throughout the region.
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. The new product employs the latest
technology in Type 4 composite cylinders and high-strength frame design. It
delivers 25% greater gas capacity than other compressed natural gas distribution
modules, while being 20% lighter in the same 40-foot length. This results in
fewer trips to deliver the same amount of gas, improving operational efficiency,
and reducing total cost of ownership and transport emissions.
Timing
Deliveries of the modules are scheduled to start in the first half of 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 Promigas
More than 48 years of connecting markets to energy sources and generating value
through responsible management with the environment and committed to sustainable
development. This is how we have led the natural gas revolution in Colombia and
Peru. We have 23 companies dedicated to the transportation and distribution of
natural gas, LNG regasification, electricity distribution, energy solutions and
integrated services for the industry.
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. Products offered include (renewable) natural gas storage and
distribution systems, Type 4 composite natural gas cylinders, propane, and
(renewable) natural gas vehicle fuel systems. These products transport clean
gaseous fuels and enable customers 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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