Hexagon Agility awarded contract for Mobile Pipeline® transport modules

22 Jan 2021 10:55 CET

Company Name

Hexagon Composites, Hexagon Composites ASA 19/23 FRN C

ISIN

NO0003067902, NO0010846280

Market

Oslo Børs

Symbol

HEX

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
(mailto:karen.romer@hexagongroup.com)

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


Source

Hexagon Composites ASA

Provider

Oslo Børs Newspoint