Hexagon received sixth set of orders for CFRP pressure vessels
Sixth order per a 2020 master services agreement to be delivered in Q3 2021, with a value of $15.7 million.
Photo Credit: Hexagon Composites
Hexagon Agility (Costa Mesa, Calif., U.S.), a Hexagon Composites (Alesund, Norway) business, has received its sixth set of orders per a June 2020 master services agreement with a global logistics customer to deliver compressed natural gas (CNG) and renewable natural gas (RNG) fuel systems for medium- and heavy-duty trucks. Hexagon produces type IV carbon fiber-reinforced polymer (CFRP) pressure vessels for CNG and hydrogen applications.
This agreement represent an estimated value of $15.7 million (approx. NOK 131 million). Collectively, the orders placed in 2021 represent an estimated total value of $60 million (approx. NOK 502 million).
“In the wake of the Leaders’ Summit on Climate and the expected EU taxonomy classification of RNG as a climate mitigation fuel, we are seeing the demand for natural gas transportation solutions continuing to grow,” says Seung Baik, president of Hexagon Agility. “The pace for carbon-neutral technology is rising — not just among large global fleet customers, but also small and medium fleet owners. RNG technology is an important factor in realizing our global commitment to reduce greenhouse gases by 2030.”
Deliveries of the fuel systems are scheduled to start in Q3 2021.
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