Hexagon Agility has received an order for Mobile Pipeline modules from REV LNG, LLC a leading full-service mobile energy supply and project development company. These modules will be used to transport and deliver renewable natural gas (RNG).
This order represents an estimated value of USD 7.8 million (approx. NOK 67 million).
"Mobile Pipeline is essential to our business as we are committed to delivering RNG where pipeline infrastructure is not readily available," said David Kailbourne, President of REV LNG. "Hexagon Agility's TITAN53 modules offer the safest, highest capacity, and lowest cost of ownership solutions in North America, and are instrumental to our vision and company growth."
About the market
RNG results in the greatest reduction of greenhouse gas emissions of any clean energy solution available today in the transport sector. In addition, RNG is supported by vast infrastructure in North America, allowing for immediate deployment while also providing benefits for decades to come. Research shows that RNG derived from agricultural waste can offer more than 200% improvement in well-to-wheel emission reductions compared to diesel, and is the only carbon-negative fuel available.
"We appreciate the trust that REV LNG has in Hexagon Agility to provide reliable state-of-the art modules," said Seung Baik, President of Hexagon Agility. "We value our partnership with REV LNG, as together we promote Clean Air Everywhere by helping our customers with access to RNG, which is the cleanest transportation fuel readily available today."
Timing
Deliveries of the modules are scheduled to start in the first quarter of 2022.
For more information:
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 REV LNG
REV LNG is a full-service supplier of liquid natural gas.
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.
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
?
