Hexagon expands its Mobile Pipeline® business into "gas islands"

01.03.2018  Stock Exchange Release

Hexagon Composites' subsidiary Hexagon Lincoln has been awarded an order for TITAN® trailers from Compass Natural Gas with a total value of USD 4.1 million (around NOK 33 million). The Mobile Pipeline® modules will serve "gas island" projects with utilities in the US.

"Mobile Pipeline® connects stranded communities and facilities to the gas grid - no pipeline is necessary," said Will Muller, Director of Marketing at Compass Natural Gas. "Hexagon Lincoln's CNG transport trailers are the world leaders in safety and reliability, and the Lincoln, NE manufacturing facility is first class. Partners like Hexagon Lincoln are critical to bringing the advantages of natural gas to under-served markets and we are pleased to continue our relationship with them." 

"It's been almost 10 years since Hexagon introduced TITAN® and shaped a new CNG Mobile Pipeline® market. It's exciting to see our customers continue to develop new applications that displace petroleum fuels with cleaner burning natural gas," said Miguel Raimao, Vice President Mobile Pipeline® at Hexagon Lincoln. "We weathered a couple of tough years when the oil price collapsed, but we've emerged as a stronger and more sophisticated industry as a result." We are proud to have been chosen by Compass to be part of these new projects that will bring clean and affordable energy to these communities."

Deliveries of the TITAN® 4 modules are scheduled to commence in the first quarter of 2018 and continue through second quarter of 2018.

For more information:
Jack Schimenti, President, Hexagon Lincoln LLC
Telephone: +1 402 430 3863 | jack.schimenti@hexagonlincoln.com

David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483 | david.bandele@hexagon.no

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether@hexagon.no

About Compass Natural Gas
Compass Natural Gas is a team of energy, logistics, engineering, and other professionals dedicated to finding effective and innovative ways to distribute and share America's natural gas resources. Compass delivers natural gas (CNG) to fleets and companies by truck and trailer, eliminating the headaches and costs associated with pipeline infrastructure. All We Need is Road to safely and reliably deliver clean, green, American natural gas.

About Hexagon Composites ASA
Hexagon Composites delivers safe and innovative solutions for a cleaner energy future. We are adapting our leading composite pressure vessel technology for a wide range of mobility and storage applications. The energy transition towards a low-carbon society is constantly opening up exciting growth opportunities for us. For more information, please visit www.hexagon.no

Follow us on Twitter: @HexagonASA

This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.

Press release