Hexagon Mobile Pipeline introduces new product and continues leading partnership

30.07.2019  Stock Exchange Release

Hexagon Mobile Pipeline, a business of Hexagon Composites, has been awarded an order for TITAN^® gas transport 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 7.3 million (approx. NOK 63 million).

The Mobile Pipeline^® modules will support Certarus' continued growth, including its expansion in the eastern Canada mining sector and other industrial markets across North America.   

“Our long partnership with Certarus continues to grow and we are pleased to develop our product innovation with such a leader in the market,” says Jon A. Smith, President of Hexagon Mobile Pipeline. “The relationship continues well beyond the purchase, as the service and support for these modules ensure safe delivery and assets that reach their life expectancy. We continue to see new energy transformation opportunities for CNG to supply the growing demand for cleaner and more efficient energy use, as well as being an enabler for accelerating carbon reduction for our partners.”

A portion of this order will also replace Type 3 modules in Certarus’ fleet, with the more advanced and cost-effective Type 4, carbon fiber technology contained in all Mobile Pipeline^® products, as well as being the first fleet to receive the newly launched TITAN^® 2. The TITAN^® 2 provides the ability to utilize the weight efficiency of the TITAN^® in an easily upgradable configuration, if volumes warrant.

“The ability to provide carbon reduction solutions to large scale off-grid fuel consumers in all industries has been a driver of our growth," says Curtis Philippon, President & CEO of Certarus Ltd. “We appreciate the customer focused innovation at Hexagon. The addition of the TITAN^® 2 product further expands the overall addressable off-grid market that Certarus can economically support.”

Deliveries of the TITAN® modules are scheduled for the second half of 2019.

For more information:
Jon Smith, President, Hexagon Mobile Pipeline
Telephone: +1 402 470 4045 | jon.smith@hexagongroup.com

Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com

Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | solveig.saether@hexagongroup.com

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 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.

For more information, please visit www.hexagongroup.com

Follow us on Twitter: @HexagonASA

Hexagon Mobile Pipeline introduces new product and continues leading partnership