Hexagon Agility receives fourth set of orders for CNG trucks from major global logistics customer

Fri 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 compressed natural gas (CNG) fuel systems for medium and heavy-duty trucks.

Hexagon Agility received its fourth set of orders in 2021 under this agreement, which represent an estimated value of USD 12.1 million (approx. NOK 106 million).

Collectively the orders placed in 2021 represent an estimated total value of USD 31.5 million (approx. NOK 276 million).

"The coronavirus pandemic caused delivery activity to surge in 2020 and 2021 – increasing the demand for commercial delivery vehicles. We see transportation companies rising to the challenge and actively reducing emissions today by replacing aging fleets with RNG (renewable natural gas) and CNG-fueled trucks,” said Seung Baik, President, Hexagon Agility. “Making the change from diesel to RNG essentially doubles the positive effect, reducing the environmental damage caused by diesel emissions and methane from waste.”

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

For more information:

Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | [email protected]

Hiva Ghiri, VP IR, Hexagon Composites ASA
Telephone: +47 958 66 790 | [email protected]

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.