Hexagon awarded the first order for the new TITAN®53 Mobile Pipeline® gas transport module, employing largest composite cylinders in the world

14.08.2018  Stock Exchange Release

Hexagon Composites' subsidiary Hexagon Lincoln has been awarded a substantial order for the new TITAN® 53 transport modules from Xpress Natural Gas LLC (XNG) a leading full-service provider of CNG Mobile Pipeline®, with a total value of USD 10.6 million (approx. NOK 86 million). The large-capacity Mobile Pipeline® modules will serve virtual interconnect projects in the U.S., connecting communities and facilities to the gas grid.

The 53-foot-long TITAN®53 was launched at the World Gas Conference in Washington D.C. in late June 2018 and is the most recent example of how Hexagon is adapting its leading composite pressure vessel technology for a wide range of applications for compressed natural gas, hydrogen and industrial gases. TITAN®53 delivers almost 40% greater payload than the first TITAN® modules while retaining all the advantages of Hexagon's Mobile Pipeline® platform to deliver a lower cost of ownership. TITAN®53 is ideally suited to the U.S. market, able to meet GVWR (gross vehicle weight rating) requirements in all 50 states. It targets energy intensive industries wishing to convert to clean and cost-effective natural gas, virtual interconnects, gas islands, vehicle refueling and transport of industrial gases.

"XNG was a pioneer of CNG Mobile Pipeline®. Our first transport modules were the TITAN®4 from Hexagon and they've been the work horses of our fleet. As the industry has grown, we've needed to become more competitive and that means investing in the state of the art. We're excited to be the first to market with TITAN®53; the higher capacity and weight efficiency in a product that we are intimately familiar with is exactly what we were looking for," said John Nahill, President and co-founder of Xpress Natural Gas. "We also appreciate Hexagon's service team. Their support has allowed us to maximize our dispatch reliability. It was a key factor in our decision to lead with TITAN®53."

"Hexagon is building momentum for a cleaner energy future with the unveiling of the new TITAN®53 gas transport module, which employs the largest composite cylinder tanks in the world. After nearly a decade of success with TITAN® products, customers are requiring the ability to move greater volumes of compressed gases," said Miguel Raimao, Vice President Mobile Pipeline® at Hexagon Lincoln.

The United States Department of Transportation (U.S. DOT) recently granted Hexagon Lincoln special permit for TITAN®53.

Deliveries of the TITAN®53 modules are scheduled to commence in the fourth quarter of 2018 and continue through first quarter of 2019.

For more information:
Miguel Raimao, VP, Mobile Pipeline® Americas, Hexagon Lincoln LLC
Telephone: +1 719-761-5797 | miguel.raimao@hexagonlincoln.com

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

About XNG
Xpress Natural Gas (XNG) provides rapid and reliable delivery of liquid natural gas (LNG) and compressed natural gas (CNG) to customers throughout the United States and the Canadian Maritimes through their network of virtual pipelines.  With more than 70 million gasoline gallon equivalent (GGE) under contract for 2017, XNG is the largest private distributor of CNG in the United States, helping business, institutions, and utilities to lower energy costs and reduce their environmental impact. For more information about Xpress Natural Gas: www.xng.com

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.

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.


Attachment:
Hexagon press release 14-08-2018
STOCK EXCHANGE RELEASES