Hexagon Agility receives eleventh set of RNG/CNG trucks orders from major global logistics customer

Dec 17, 2021 - Stock Exchange Release

Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in June 2020 with a global logistics customer to deliver renewable natural gas (RNG) and compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks.

Hexagon Agility received its eleventh set of orders under this agreement and the second order for 2022, representing an estimated value of USD 26.6 million (approx. NOK 242 million). Total orders placed to date with delivery targeted in 2022 represent an estimated value of USD 43.6 million (approx. NOK 396 million). Overall, the eleven orders under the master services agreement represent an estimated value of USD 131.6 million (approx. NOK 1.2 billion).

“The logistics industry continues to step up its response to CO2 emission reduction. RNG as a transportation fuel is an essential component in making an immediate impact towards achieving global climate goals,” said Seung Baik, President of Hexagon Agility. “This additional order puts us over USD 100 million mark as we enter 2022 under this agreement. We are very proud to support the sustainability commitment and ambitions of this customer,” he added.

For more information:

Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

Hiva Ghiri, VP IR, Hexagon Composites ASA
Telephone: +47 958 66 790 | hiva.ghiri@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 natural gas storage and delivery systems, Type 4 composite natural gas cylinders, propane, and natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at www.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 www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.