Hexagon Composites with strategic breakthrough in the Asian market

Hexagon Composites ASA's business unit, Lincoln Composites has signed a contract with Sime Darby Sdn. Bhd. for the supply of 30 foot TITAN(TM) high-pressure tanks and storage modules for use within Malaysia. The contract is worth between NOK 40-50 million.

This order, in combination with the approval from the Malaysian Department of Occupational Safety & Health (DOSH) opens a strategic important market for Lincoln Composites' TITAN(TM) tanks and bulk gas transportation storage modules.  Today, Malaysia is striving to increase the natural gas fueling infrastructure throughout the country.  The country supports the use of natural gas in vehicular applications via incentives and legislation for the clean burning fuel. 

Lincoln Composites' high-pressure composite containers, branded TITAN(TM), will ensure safe and simple transportation in ISO container form. A 30 foot TITAN(TM) module comprising 4 tanks can transport approximately ten thousand standard cubic meters of gas. The new order for TITAN(TM) modules will be used to transport compressed natural gas from large mother compression stations to smaller daughter fueling stations that are used by the general public for filling natural gas powered vehicles. The distribution of gas in Malaysia is overseen by Petronas, the national oil company.

"The product approval from DOSH is a considerable landmark for the TITAN(TM) program. Malaysia is well-respected as a technologically innovative country and their acceptance of our one-of-a-kind product is proof that the TITAN(TM) modules are made with state-of-the art technology and materials.  Receiving this order will provide us with considerable momentum to continue to grow in this important market. " said Lincoln Composites' Vice President of International Sales, Frank Haberli.

The high-pressure composite containers for Malaysia will provide a capacity increase allowing transport of twice as much gas as conventional steel solutions, while reducing the overall gross vehicle weight by several metric tons.  This payload increase will allow fewer trailers to transport more gas throughout the country, reducing road congestion and increasing gas transportation operating efficiency.

Lincoln Composites is a world leading provider of natural gas and hydrogen storage and transport solutions to the vehicle industry. The company operates one of the world's most-advanced facilities for designing, testing and manufacturing composite pressure tanks. Lincoln Composites is located in Nebraska.

Hexagon Composites ASA is a listed Group, with its head office located in Ålesund. The Group has 315 employees and achieved a turnover of NOK 867.5 million in 2009. The company develops and manufactures composite vessels for storage and transportation of various gases under pressure, and multiaxial composite reinforcements.

For more information:

Frank Haberli, Vice President, International Sales, Lincoln Composites, Inc.
Telephone: +47 92 08 86 74 | E-mail: fh@rafs.no

Erik Espeset, Group President, Hexagon Composites ASA
Telephone: +47 90 52 00 33 | E-mail: erik.espeset@hexagon.no