2HX Hexagon Composites ASA

Hexagon Agility receives inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru S.A.

30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received an inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru, a subsidiary of Promigas and a leading energy distributor of natural gas for the Peru market.

The order represents an estimated value of USD 9 million (approx. NOK 100 million).

Promigas Peru enables customers without pipeline access to transition to lower carbon energy. The new TITAN 450 modules will complement Promigas Peru's current virtual pipeline fleet, enhancing its ability to distribute natural gas safely and economically to La Libertad, Cajamarca, Lambayeque and Ancash – all regions in Northern Peru with limited pipeline infrastructure.

“We’re excited to be selected by Promigas Peru to support the decarbonization of the industrial sector. Our Mobile Pipeline solutions have enabled the safe distribution of compressed natural gas throughout Latin America” says Nicolas Reyes, Director of Sales and Business Development Latin America at Hexagon Agility. “With deployment of our latest Mobile Pipeline innovation, Hexagon Agility and Promigas Peru are driving the transformation to cleaner and more affordable energy in Latin America.

Hexagon Agility has delivered safe, high-capacity modules into Latin America for the past ten years and has more than 300 Mobile Pipeline units in service throughout the region.

Higher capacity, lighter design, lower emissions

TITAN 450 enables the safe transport of almost half a million standard cubic feet of CNG/RNG in a 40-foot module. The new product employs the latest technology in Type 4 composite cylinders and high-strength frame design. It delivers 25% greater gas capacity than other compressed natural gas distribution modules, while being 20% lighter in the same 40-foot length. This results in fewer trips to deliver the same amount of gas, improving operational efficiency, and reducing total cost of ownership and transport emissions.

Timing

Deliveries of the modules are scheduled to start in the first half of 2024.

For more information:

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 ASATelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com

About Promigas

More than 48 years of connecting markets to energy sources and generating value through responsible management with the environment and committed to sustainable development. This is how we have led the natural gas revolution in Colombia and Peru. We have 23 companies dedicated to the transportation and distribution of natural gas, LNG regasification, electricity distribution, energy solutions and integrated services for the industry.

About Hexagon Agility

Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions.  Products offered include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas vehicle fuel systems. These products transport clean gaseous fuels and enable customers to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility 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 hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.