Hexagon Receives 4th Set of Orders for CNG Trucks

Source: www.gulfoilandgas.com 4/16/2021, Location: Europe

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) fuel systems for medium and heavy-duty trucks.

Hexagon Agility received its fourth set of orders in 2021 under this agreement, which represent an estimated value of USD 12.1 million (approx. NOK 106 million).

Collectively the orders placed in 2021 represent an estimated total value of USD 31.5 million (approx. NOK 276 million).

"The coronavirus pandemic caused delivery activity to surge in 2020 and 2021 – increasing the demand for commercial delivery vehicles. We see transportation companies rising to the challenge and actively reducing emissions today by replacing aging fleets with RNG (renewable natural gas) and CNG-fueled trucks,” said Seung Baik, President, Hexagon Agility. “Making the change from diesel to RNG essentially doubles the positive effect, reducing the environmental damage caused by diesel emissions and methane from waste.”

Deliveries of the fuel systems are scheduled to start in the second quarter of 2021.

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