OSLO, Norway, May 16, 2024 /PRNewswire/ — Hexagon Agility, a enterprise of Hexagon Composites, signed a 3-year extension of its grasp providers settlement with UPS in February 2024 to provide renewable (RNG) gas methods for medium- and heavy-duty vehicles. UPS is the world’s premier package deal supply firm and a number one supplier of worldwide provide chain administration options.

Under the prolonged settlement, Hexagon Agility has acquired new orders totaling USD 57.7 million (approx. NOK 620 million) for supply of RNG gas methods for heavy-duty vehicles. The orders embrace vehicles using the brand new 15-liter (X15N) pure gasoline engine.

“In the past decade Hexagon Agility has supported the deployment of over 100,000 near-zero emission vehicles globally,” mentioned Eric Bippus, EVP of Sales and System Development at Hexagon Agility. “UPS has been a pioneer in sustainable transportation. Once again, they are taking the lead and are among the first companies enhancing their fleet with the game-changing X15N engine and our fuel systems.”

RNG in heavy-duty transport leads to important reductions of greenhouse gasoline (GHG) emissions. In 2023, 6.96 million metric tons of carbon dioxide equivalents have been displaced by RNG within the U.S. This is the same as eradicating 17 billion miles pushed by the common passenger automobile.

In North America, RNG is supported by plentiful pure gasoline pipeline infrastructure which permits for its quick use immediately, and for many years to come back. Hexagon Agility is enabling adoption of RNG to affordably fight local weather change.

About the market

Never earlier than have there been so many pure gasoline vehicles on the street. According to The Transport Project there are greater than 175,000 pure gasoline autos on US roads immediately.

In 2023, RNG accounted for 79% of all on-road gas utilized in pure gasoline autos in the United States. Meanwhile, gas suppliers and RNG producers are quickly increasing output and availability of RNG on the pump, including to the 1,500 pure gasoline fueling stations accessible throughout North America immediately.

Timing

Deliveries of the brand new orders are anticipated to be accomplished by the top of the fourth quarter of 2024. The bulk of the orders will likely be accomplished within the second half of 2024.

For extra data:

Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com  

Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com

Natural Gas Vehicles for America (NGVAmerica) and Coalition for Renewable Natural Gas (RNG Coalition)

About Hexagon Agility

Hexagon Agility, a enterprise of Hexagon Composites, is a number one world supplier of fresh gas options for business autos and gasoline transportation options. Its product choices embrace (renewable) pure gasoline storage and distribution methods, Type 4 composite pure gasoline cylinders, propane, and (renewable) pure gasoline gas methods. These merchandise transport clear gaseous fuels and allow autos to scale back emissions whereas saving working prices. Learn extra at hexagonagility.com and comply with @HexagonAgility on X and LinkedIn.

About Hexagon Composites ASA

Hexagon delivers secure and revolutionary options for a cleaner vitality future. Our options allow storage, transportation and conversion to wash vitality in a variety of mobility, industrial and shopper functions. Learn extra at hexagongroup.com and comply with @HexagonASA on X and LinkedIn.

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