Hexagon Digital Wave signs long term agreement with Certarus using Modal Acoustic Emission technology to requalify Type-4 cylinders

Tue 10, 2022 - Stock Exchange Release

18 October 2022: Hexagon Digital Wave has signed a long-term agreement with Certarus Ltd. (Certarus), the leading provider of turnkey virtual pipeline solutions in North America. Hexagon Digital Wave will perform in situ Modal Acoustic Emission (MAE) requalification of Type-4 cylinders used for transportation of compressed natural and renewable natural gas (CNG/RNG). MAE enables the requalification of Type-4 cylinders without removal from the trailer, resulting in reduced downtime and operator overhead, all while providing the most effective assessment of composite structural integrity available. The long-term agreement has a 3-year term and estimated value of USD 2 million ( approx. NOK 21 million).

Driving Energy Transformation
“This agreement confirms that the future of MAE in the CNG and RNG industry remains strong. It’s also a testament to Certarus’s continued commitment to safety by leveraging best available technology” says Melissa Holler, President of Hexagon Digital Wave. “We look forward to supporting Certarus with requalifications of Type-4 cylinders and are pleased to be working with such an industry leader to further this adoption in the years to come.”

“Hexagon has been instrumental to the growth of Certarus and we look forward to continuing our relationship through this new agreement. MAE will ensure that our equipment remains safe and reliable while reducing the downtime and expense typically associated with requalification. We also believe that MAE will support current data suggesting that the useful life of our assets extends beyond initial industry expectations,” said Curtis Philippon, President and CEO of Certarus.

About the market
MAE uses advanced electronics and sensors that capture broadband waveforms to identify whether structural integrity deficiencies are present in Composite Overwrappped Pressure Vessels (COPVs). The use of MAE is a requalification method adopted by the US Department of Transportation (US/DOT) Pipeline and Hazardous Materials Safety Administration (PHMSA) and Transport Canada for the five (5) year requalification requirement. Hexagon Digital Wave performs requalification of COPVs under its US DOT special permit 20396. By performing inspections in situ, the need to vent trailer contents to the atmosphere is eliminated, enabling our customers to reduce greenhouse gas (GHG) emissions and meet their sustainability goals.

A significant increase in customer demand for compressed gas transport is driving module owners to seek safe, yet time efficient methods of cylinder requalification. Hexagon Digital Wave’s MAE services meet these requirements, and when leveraged, alleviate pain points for customers and module suppliers alike.

Timing
Requalification is set to begin in the fourth quarter of 2022.


Contacts:

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

Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites
Telephone: +47 950 38 364 | [email protected]


About Hexagon Digital Wave
Hexagon Digital Wave, a subsidiary of Hexagon Composites ASA, is a manufacturer of Ultrasonic Examination (UE) cylinder testing equipment, Modal Acoustic Emission (MAE) testing equipment and a provider of associated inspection services. With applications worldwide, Hexagon Digital Wave serves government entities, academic institutions, and private clients in the compressed gas and pressure vessel industries.

About Certarus
Certarus is the North American leader in providing on-road low carbon energy solutions through a fully integrated CNG, RNG, and hydrogen platform. Certarus safely delivers clean burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Certarus is leading the energy transition and helping customers lower operating costs and improve environmental performance. With the largest fleet of mobile gas storage units in North America, Certarus is uniquely positioned to meet the growing demand for low and zero-emission energy distribution.

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.