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

Thu 03, 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 third set of orders in 2021 under this agreement, which represent an estimated total value of USD 5.9 million (approx. NOK 50 million).

Collectively the orders placed in 2021 represent an estimated total value of USD 19.4 million (approx. NOK 165 million).

"The strong momentum of orders coming in as we kick off 2021 reflect the forward leaning approach of this global logistics customer. CNG and RNG play an important role in the future of commercial trucking. Sustainable fleets makes both environmental and economic sense to deploy natural gas trucks right now - and make it possible to do so at scale," said Seung Baik, President, Hexagon Agility.

Deliveries of the fuel systems are scheduled to start in the first 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.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act