Hexagon Agility receives orders for Mobile Pipeline® and RNG fuel systems from major refuse fleet in North America
July 26, 2023 - Stock Exchange Release
26 July 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received orders for Mobile Pipeline® modules and renewable natural gas (RNG) fuel systems at a total value of USD 31 million (approximately NOK 310 million) from a major refuse fleet in North America. The modules will be used in mobile refueling of the company's growing fleet of RNG vehicles.
“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.
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 | email@example.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | firstname.lastname@example.org
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.