Hexagon Agility receives additional fuel system orders for UPS heavy- and medium-duty renewable natural gas trucks
28 June 2023: As previously disclosed, Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in October 2019 with UPS, the world’s premier package delivery company and a leading provider of global supply chain management solutions, to supply renewable natural gas (RNG) fuel systems for medium- and heavy-duty trucks.
Under this agreement, Hexagon Agility has received additional 2023 orders of USD 20.9 million (approx. NOK 225 million) for delivery of RNG fuel systems for heavy- and medium-duty trucks. This is in addition to the USD 19 million (approx. NOK 205 million) of previously announced orders from February 2023.
“We are pleased to support UPS’ continued commitment to transition its fleet to RNG resulting in greater emission reductions,” said Eric Bippus, EVP Sales and Systems Development at Hexagon Agility. “Together, we are paving the way for a cleaner and greener future.”
About the market
RNG results in significant reductions of greenhouse gas (GHG) emissions when compared to other clean energy solutions available today. In North America, RNG is supported by abundant natural gas pipeline infrastructure which allows for its immediate use today, and for decades to come. Hexagon Agility is enabling the adoption of RNG to cost effectively combat climate change.
Timing
Deliveries of the new orders will commence in the third quarter of 2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
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 (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at 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 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