Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in June 2020 with a global logistics customer to deliver compressed natural gas (CNG) and renewable natural gas (RNG) fuel systems for medium and heavy-duty trucks.
Seung Baik, President, Hexagon Agility states, “We are pleased to see the continued strong commitment from this global customer to transitioning their fleets to cleaner RNG and CNG fuel solutions. According to the UN’s IPCC Climate report, methane emissions are responsible for approximately 30% of global warming since the pre-industrial area. RNG is a powerful clean energy tool to achieve major cuts in methane and deliver net zero emissions today.”
Under this agreement, Hexagon Agility’s first set of orders for 2022 delivery estimated value of USD 17 million (approx. NOK 148 million). Furthermore, the orders placed so far in 2021 have a total estimated value of USD 80 million (approx. NOK 696 million). Further orders for 2021 delivery are still being received.
Deliveries of the fuel systems are scheduled to start in the 1st quarter of 2022.
Source – Hexagon Group