Hexagon Composites' subsidiary Hexagon Lincoln has been awarded an order for TITAN® modules from Certarus Ltd., the North American market leading provider of fully integrated compressed natural gas (CNG) delivery solutions, with a total value of USD 14.6 million (around NOK 121.2 million). The Mobile Pipelines modules will support Certarus' eastern Canada and southwest United States expansion into industrial, mining and agricultural power generation. Simultaneously, Hexagon and Certarus have extended their strategic long-term agreement.
The TITAN® platform gave birth to modern CNG distribution by Mobile Pipelines. Hexagon's Type 4 cylinder technology transformed the industry with new levels performance for weight, capacity, and total cost of ownership. Today it is the most prevalent Mobile Pipelines trailer in the world and over and over customers choose TITAN® for its proven safety and reliability.
"Hexagon's Mobile Pipelines modules continue to be the core of our fleet. They've allowed us to grow Certarus into the leading end to end Mobile Pipelines solution provider in North America" said Curtis Philippon, President & CEO of Certarus Ltd. "Our latest agreement expands our strategic relationship."
"We continue to see strong growth in the Mobile Pipelines market," said Jack Schimenti, President of Hexagon Lincoln. "We are proud to be a trusted partner of Certarus, who is a pioneer in the supply of clean fuel into various energy intensive industries, including oil and gas and power generation. This new follow-on order continues to affirm Hexagon's class leading product performance and unmatched after-sales service support."
Deliveries of the TITAN® 4 modules are scheduled to commence in the third quarter of 2018 and continue through the first quarter of 2019.
For more information:
Jack Schimenti, President, Hexagon Lincoln LLC
Telephone: +1 402 430 3863 | [email protected]
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | [email protected]
About Certarus
Certarus Ltd is the market 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, agricultural 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.
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.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
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Source: Hexagon Composites ASA via Globenewswire
Source: Thomson Reuters ONE
(August 30, 2018 - 4:54 PM EDT)
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