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

Oct 04, 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 tenth set of orders under this agreement, representing an estimated value of USD 8 million (approx. NOK 70 million). Total orders placed to date with delivery targeted in 2021 represent an estimated value of USD 88 million (approx. NOK 766 million).

“As we all continue to tackle the issue of climate change, it is encouraging to see this major global logistics customer prioritize RNG, a solution that works both environmentally and economically,” said Seung Baik, President of Hexagon Agility. “According to the Natural Gas Vehicles for America and Coalition for Renewable Natural Gas, in 2020, a total of 646 million gallons of natural gas was used as transportation fuel, of which 345 million were RNG,” 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.