Hexagon signs long-term agreement with Certarus for CNG, RNG and hydrogen solutions
March 16, 2021 - Stock Exchange Release
Hexagon Agility and Hexagon Purus, both subsidiaries of Hexagon Composites, have signed a multi-year agreement with Certarus Ltd., the North American market leader of clean energy solutions. The agreement represents a total value of up to USD 85 million (approx. NOK 718 million) and includes the supply of distribution modules for CNG and hydrogen applications, as well as CNG fuel storage systems for Certarus’ heavy-duty truck fleet.
Under the agreement, Hexagon Agility received an initial order for Mobile Pipeline® modules and CNG/RNG fuel storage systems, with a total order value of USD 18.5 million (approx. NOK 156 million). Deliveries are expected to commence in Q2 2021. The modules and trucks will further expand Certarus’ fleet of Mobile Pipeline® trailers, which is already the largest Type 4 composite fleet in the world. The new equipment will be deployed to meet the growing demand for safe and cost-effective transportation of renewable natural gas (RNG).
“This agreement reinforces the strong relationship between Certarus and the Hexagon Group and our commitment to Clean Air Everywhere. Our comprehensive portfolio of g-mobility and e-mobility solutions enable us to meet our customer’s demands today, tomorrow, and well into the future”, says Seung Baik, President of Hexagon Agility.
Hexagon Purus also received an initial order for SMARTSTORE® hydrogen distribution modules, with an estimated value of USD 3.2 million (approx. NOK 27 million). Deliveries are expected to commence in Q3 2021 and run through Q4 2021. Hexagon Purus’ distribution modules will deliver hydrogen for mobility applications.
“We’re excited to be working with a long time Hexagon customer as they expand into hydrogen solutions. Certarus is a pioneer in gas distribution and brings a wealth of experience to our collaboration as we innovate our hydrogen portfolio,” says Morten Holum, CEO of Hexagon Purus.
As part of the strategic agreement, Certarus and Hexagon will cooperate on further developing natural gas and hydrogen distribution modules and sharing of best practices with a focus on continuously driving safety and operational excellence.
“Thanks to the ongoing partnership between Certarus and Hexagon, we have the technology and equipment in place to support the growth of the RNG and hydrogen markets. Together, we are finding new ways to make low carbon and zero emission energy solutions available and affordable,” says Curtis Philippon, President & CEO of Certarus Ltd.
Hexagon Composites is a strong, diverse group - with two listed companies - covering a complete range of clean fuel solutions under one strong brand. This long-term agreement demonstrates how customers leverage the synergies among the businesses in the group.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA Telephone: +47 950 74 950 | email@example.com
Hiva Ghiri, VP IR, Hexagon Composites ASA Telephone: +47 958 66 790 | firstname.lastname@example.org
Certarus is the North American leader in providing low carbon energy solutions through a fully integrated compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen platform. The company safely delivers clean burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. Certarus is leading the energy transition by displacing more carbon intensive fuels and helping customers lower operating costs and improve environmental performance. With the largest fleet of specialty trailers in the world, the company is uniquely positioned to meet the growing demand for zero emission fuel distribution.
Learn more at www.certarus.com
About Hexagon Purus
Hexagon Purus, a Hexagon Composites company, is a world leading provider of hydrogen type 4 high-pressure cylinders, battery packs and vehicle systems integration for fuel cell electric and battery electric vehicles. Hexagon Purus enables zero emission solutions for light, medium and heavy-duty vehicles, buses, distribution, marine, rail and aerospace applications.
Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn.
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.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act