Hexagon Composites ASA

Hexagon Agility has received an order for TITAN® 53 transport modules with a total estimated value of USD $5.7 million (approx. NOK 48.5 million).

Driving Energy Transformation
“Mobile Pipeline® Type 4 modules enable more than twice the volume of gas to be transported on each trip, reducing both operating expenses and Greenhouse Gas Emissions for our clients,” says Miguel Raimao, Vice President of Mobile Pipeline at Hexagon Agility. “We are proud to be a selected as a supplier to an industrial gas provider as they strive to reduce energy consumption, lower emissions and boost productivity.”

About the market
A significant increase in customer demand for compressed gases, including natural gas, hydrogen, and industrial gases, is driving a need to move greater volumes on every trip. Hexagon’s Titan53® employs the largest composite cylinder in the world, which allows for very high payloads and reduces total cost of ownership for customers. 

Timing
As of January 1, 2021, Hexagon Mobile Pipeline combined with Agility Fuel Solutions to form Hexagon Agility. “Today’s announcement is a great start to the union of our Mobile Pipeline® business and Agility, and we look forward to expanding on this relationship in the near future,” says Seung Baik, President Hexagon Agility.

The modules will be delivered in the second quarter of 2021.

Contacts:

Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com

Hiva Ghiri, VP Investor Relations
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com

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.

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