March 19, 2020
Agility Fuel Solutions, a business of Hexagon Composites, has been awarded an order from an existing U.S. based transit bus customer to deliver compressed natural gas (CNG) fuel storage systems. The order represents an estimated total value of USD 10.0 million (approx. NOK 115 million).
The North American CNG transit bus market continues to grow steadily, driven by the environmental benefits and operating cost savings of CNG. About 35% of new transit bus orders are powered by natural gas.
“CNG is one of the cleanest burning fuels available. We're happy to deliver cleaner air to the city of Los Angeles, where these fleets operate”, says Seung Baik, President of Agility Fuel Solutions.
Deliveries of the fuel systems are expected to commence in July.
For more information:David Bandele, CFO, Hexagon Composites ASATelephone: +47 920 91 483 | firstname.lastname@example.org
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASATelephone: +47 958 66 790 | email@example.com
About Agility Fuel SolutionsAgility Fuel Solutions, a wholly-owned subsidiary of Hexagon Composites ASA, is a leading global provider of clean fuel solutions for medium- and heavy-duty commercial vehicles. Its product offerings include natural gas, hydrogen, and battery electric energy storage and delivery systems, Type 4 composite natural gas cylinders, propane and natural gas fuel systems, and propane dispensers. Agility has been manufacturing and servicing safe and reliable clean fuel solutions for commercial vehicle fleets and OEMs for more than 20 years, logging billions of miles on the road per year.
Learn more at www.agilityfuelsolutions.com and follow @AgilityFuel 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
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act