Further growth in Mobile Pipeline®

Hexagon Composites' subsidiary Hexagon Lincoln announces a new purchase order for TITAN® 4 trailers from Certarus Ltd., a leading provider of fully integrated compressed natural gas (CNG) delivery solutions, with a total value of USD 10.4 million (around NOK 85 million).

"The macro trend of gasification of both the oil & gas sector and industrial markets has created strong demand for Certarus. This new order of TITAN® trailers will be deployed primarily into our industrial power generation fuel supply business line. Certarus is the North American market leader for large scale integrated compressed natural gas solutions and Hexagon's TITAN® 4 is the core of our fleet", says Curtis Philippon, President & CEO of Certarus Ltd. 
 
"We continue to see strong growth in the Mobile Pipeline® market driven by the desire to reduce fuel costs and pollutant emissions. We are positioned to support this growth through our capabilities in North America," said Miguel Raimao, Vice President Mobile Pipeline® at Hexagon Lincoln

"We are proud to be a trusted partner of Certarus who is a pioneer in the supply of clean fuel into the oil and gas fields of North America. This new follow-on order continues to affirm Hexagon's class leading product performance and unmatched after-sales service support," said Jack Schimenti, President of Hexagon Lincoln.

Deliveries are scheduled for first quarter of 2018.

For more information:
Jack Schimenti, President, Hexagon Lincoln LLC
Telephone: [phone] | [e-mail]

David Bandele, CFO, Hexagon Composites ASA
Telephone: [phone] | [e-mail]

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: [phone] | [e-mail]

About Certarus
Certarus Ltd is a leader in providing a fully integrated compressed natural gas (CNG) solution for the North American commercial and industrial markets. The primary business is the creation of a "Virtual Natural Gas Pipeline" through the compression, transportation and integration of CNG for the energy services, mining, forestry and industrial sectors.

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.

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Source: Hexagon Composites ASA via Globenewswire