New Mobile Pipeline® order from NG Advantage
November 25, 2019 - Stock Exchange Release
Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for TITAN® gas transport modules by NG Advantage, a leading provider of virtual pipeline services in the U.S. The order has a value of USD 4.2 million (approx. NOK 38 million).
Hexagon’s Mobile Pipeline® modules will support NG Advantage’s continued expansion in the northeastern U.S. and help facilitate the delivery of compressed natural gas to natural gas utilities, hospitals, and large industrial end users.
“We are pleased to continue our partnership with NG Advantage, a leading player and owner of mobile pipeline modules in the U.S.,” says Jon A. Smith, President of Hexagon Mobile Pipeline. “We continue to see new energy transformation opportunities for CNG to meet the growing demand for cleaner and more efficient energy use, as well as accelerate carbon reduction for our partners.”
“We took delivery of our first TITAN® module in 2012 and built NG Advantage into a leading mobile pipeline service provider. Hexagon has been a trusted partner in our growth and TITAN® laid the foundation of our fleet,” says Rico Biasetti, CEO of NG Advantage. Biasetti adds, the TITAN® module’s leading-edge technology enables us to safely and reliably deliver CNG to our customers.”
Since its inception, NG Advantage has delivered over 19 billion cubic feet (538 million cubic meters) of CNG to customers in Maine, Massachusetts, New Hampshire, New York, and Vermont. By making the switch to natural gas from other fuels, customers have substantially reduced their CO2 emissions. In 2018, NG Advantage’s customers avoided the emission of 163,770,944 pounds (74,285 metric tons) of CO2, the equivalent of taking 15,772 cars off the road.
The order includes delivery of TITAN® 53 modules as well as rental of TITAN® XL modules.
Deliveries of the TITAN® modules are scheduled for the fourth quarter of 2019.
For more information:
Jon A. Smith, President, Hexagon Mobile Pipeline
Telephone: +1 402 470 4045 | firstname.lastname@example.org
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | email@example.com
Solveig D Saether, Communication Manager, Hexagon Composites
Telephone: +47 906 34 977 | firstname.lastname@example.org
About NG Advantage
NG Advantage provides the economic and environmental benefits of clean-burning natural gas to power generators, gas utilities, and large industrial end users that do not have sufficient supply from pipeline natural gas. NG Advantage is a leading provider of virtual pipeline service in the country and pioneered trucking both compressed natural gas and renewable natural gas using one of the largest virtual pipeline trailer fleets in the US. The company's current customers include gas utilities - where NG Advantage provides pipeline pressure and capacity support - regional hospitals, paper mills, asphalt plants, food processors, industrial dry cleaners, and manufacturing facilities. Majority-owned by Clean Energy Fuels, NG Advantage has the ability to offer RNG to customers through its partnership with Vermont Gas Systems.
About Hexagon Composites
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