Hexagon Receives 3rd Set of Orders for CNG Trucks

Source: www.gulfoilandgas.com 3/18/2021, 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 third set of orders in 2021 under this agreement, which represent an estimated total value of USD 5.9 million (approx. NOK 50 million).

Collectively the orders placed in 2021 represent an estimated total value of USD 19.4 million (approx. NOK 165 million).

"The strong momentum of orders coming in as we kick off 2021 reflect the forward leaning approach of this global logistics customer. CNG and RNG play an important role in the future of commercial trucking. Sustainable fleets makes both environmental and economic sense to deploy natural gas trucks right now - and make it possible to do so at scale," said Seung Baik, President, Hexagon Agility.

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

Gulf Oil and Gas
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