Agility Fuel Solutions extends long-term agreement with UPS
October 09 2019 - 9:00AM
Agility Fuel Solutions extends long-term agreement with UPS
Agility Fuel Solutions, a business of Hexagon Composites, has
signed an exclusive three-year agreement with the global leader in
logistics, UPS to supply compressed natural gas (CNG) fuel systems
for medium and heavy-duty trucks as well as terminal tractors. The
agreement represents a total value of USD 65 million to USD 95
million (approx. NOK 595 to 870 million) over the three-year
period.
“We are proud to continue our collaboration with UPS, a
front-runner in clean transportation,” says Seung Baik, President
of Agility Fuel Solutions. “With our range of proven and reliable
clean fuel technologies and aftermarket support capabilities, we
will assist UPS in reaching its sustainability targets.”
As part of the new agreement, Agility will provide complete
end-to-end natural gas systems for heavy-duty gas trucks, terminal
tractors and medium-duty walk-in vans, which are UPS’s familiar
brown delivery trucks. These will include on-board CNG fuel storage
and management as well as Agility’s certified natural gas engine
fuel systems.
“UPS continues to expand and improve our smart
logistics network by implementing new technologies and creating a
highly flexible, data-driven, and sustainable network,” says Juan
Perez, Chief Information and Engineering Officer at UPS. “That is
why we intend for 25 percent of our vehicles purchased in 2020 to
run on alternative fuels.”
For more information:David Bandele, CFO,
Hexagon Composites ASATelephone: +47 920 91 483 |
david.bandele@hexagongroup.com
Seung Baik, President, Agility Fuel Solutions Telephone: +1 949
236 2251 | sbaik@agilityfs.com
Hiva Ghiri, VP Investor Relations, Hexagon Composites
ASATelephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
About UPSUPS (NYSE: UPS) is a global leader in
logistics, offering a broad range of solutions including
transporting packages and freight; facilitating international
trade, and deploying advanced technology to more efficiently manage
the world of business. UPS is committed to operating more
sustainably – for customers, the environment and the communities we
serve around the world. Headquartered in Atlanta, UPS serves more
than 220 countries and territories worldwide.
Learn more at www.ups.com or www.pressroom.ups.com and follow
@UPS_News on Twitter
About Agility Fuel SolutionsAgility Fuel
Solutions, a wholly-owned subsidiary of Hexagon Composites ASA, is
a leading global provider of clean fuel solutions for medium- and
heavy-duty commercial vehicles. Its product offerings include
natural gas, hydrogen, and battery electric energy storage and
delivery systems, Type 4 composite natural gas cylinders, propane
and natural gas fuel systems, and propane dispensers. Agility
has been manufacturing and servicing safe and reliable clean fuel
solutions for commercial vehicle fleets and OEMs for more than 20
years, logging billions of miles on the road per year.
Learn more at www.agilityfuelsolutions.com and
follow @AgilityFuel on Twitter and LinkedIn
About Hexagon Composites ASA Hexagon delivers
safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation and conversion to clean
energy in a wide range of mobility, industrial and consumer
applications.
Learn more at www.hexagongroup.com and follow
@HexagonASA on Twitter and LinkedIn
This information is
subject to the disclosure requirements pursuant to section 5 -12 of
the Norwegian Securities Trading Act.