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

May 14, 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 compressed natural gas (CNG) and renewable natural gas (RNG) fuel systems for medium and heavy-duty trucks.

Hexagon Agility received its sixth set of orders in 2021 under this agreement, which represent an estimated value of USD 15.7 million (approx. NOK 131 million). Collectively, the orders placed in 2021 represent an estimated total value of USD 60 million (approx. NOK 502 million).

"In the wake of the Leaders’ Summit on Climate and the expected EU Taxonomy classification of RNG as a climate mitigation fuel, we are seeing the demand for natural gas transportation solutions continuing to grow,” said Seung Baik, President Hexagon Agility. “The pace for carbon neutral technology is rising – not just among large global fleet customers, but also small and medium fleet owners. RNG technology is an important factor in realizing our global commitment to reduce greenhouse gases by 2030.”

Deliveries of the fuel systems are scheduled to start in the 3rd quarter of 2021.

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.