TITAN approved in Australia
Australian authorities have granted Hexagon Composites' business unit Lincoln Composites an approval that authorizes the sale and use of its TITAN(TM) transport modules in Australia.
The product approval is a considerable landmark for the TITAN(TM) program. The approval gives Lincoln Composites the ability to offer the TITAN(TM) transport module to an Australian market with a compressed natural gas pipeline infrastructure marked by limited access to rural and inland regions.
Industries located off of the pipeline corridors that want to utilize natural gas for power generation require cost effective means to transport compressed natural gas. The cost of coal in Australia - the current primary fuel for electricity generation - has risen steadily over the past five years while the discovery of large natural gas reserves in the country has provided stability to the cost of natural gas over this time period. The clean-burning, cost effective option of natural gas power generation will drive demand for the use of TITAN(TM) modules in areas that were previously devoid of the fuel.
Lincoln Composites receives the Australian approval shortly after they were granted a special permit from the U.S. DOT that authorizes the manufacture, marking, sale and use of its TITAN(TM) transport modules in the U.S.
TITAN(TM) is approved through national control bodies, and is so far approved and sold in Vietnam, Malaysia, Colombia, the Dominican Republic and Peru. In addition to Australia, the modules have also been approved for use in Thailand, Indonesia and the U.S. The company expects moderate growth within TITAN(TM) in the coming year, primarily to the established regions of Southeast Asia and South America, in addition to the new markets U.S and Australia.
Lincoln Composites' high-pressure composite cylinders for bulk hauling ensure safe and simple transportation in ISO container form. The modules provide a capacity increase allowing transport of twice as much gas as conventional steel solutions reducing the overall gross vehicle weight by several metric tons. The large capacity of the modules allows the gas distributors to deliver more gas per trip, thereby reducing the operating costs of their gas delivery projects.
Hexagon Composites ASA is a publicly listed company with its headquarters in Ålesund, Norway. The Group employs 374 people and had a turnover of NOK 992 million in 2011. The Group develops and manufactures composite containers for the storage and transport of various gases under pressure and multiaxial composite reinforcements.
For further information, please contact:
Jack Schimenti, Managing Director, Lincoln Composites
Telephone: +1 402 470 5044 | E-mail: jschimenti@lincolncomposites.com
Solveig D Saether, Communications Manager, Hexagon Composites ASA
Mobile: +47 906 34 977 | E-mail: solveig.saether@hexagon.no
