28 January 2023: As previously disclosed, Hexagon Agility^®, a business of Hexagon Composites, signed a multi-year agreement in March 2021 with Certarus, a leading full-service provider of bulk gas transport, to supply newly designed TITAN 450 Mobile Pipeline^® modules. Hexagon Agility’s TITAN 450 modules represent the next generation of gas distribution modules and will be used to transport compressed and renewable natural gas (CNG/RNG) throughout North America.

Under this agreement, Hexagon Agility has received a new USD 25.6 million (approx. NOK 253 million) order representing the inaugural order of Hexagon Agility’s new TITAN 450 modules.

“We are proud to receive our first order for TITAN 450 from Certarus,” said Miguel Raimao, Vice President of Mobile Pipeline at Hexagon Agility. “Over 90% of the TITAN platform has been redesigned. The new TITAN 450 delivers 25% greater gas capacity, while being 20% lighter in the same 40-foot length. We appreciate our long-standing relationship with Certarus. They’ve been more than a customer, continually providing valuable user feedback that we apply to the innovation of our Mobile Pipeline products.”

The next generation of composite gas distribution modules

TITAN 450 enables the safe transport of almost half a million standard cubic feet of CNG/RNG in a 40-foot module, allowing customers to deliver more gas with fewer trips, resulting in reduced operating costs. The new product employs the latest technology in Type 4 composite cylinders and high-strength frame design, while building on the proven simplicity and reliability of TITAN. As with the current generation of TITAN products, the modules are approved for a variety of gases including CNG, RNG, Helium, and Hydrogen.

This new generation module is fully interchangeable with existing TITAN products and reflects Hexagon Agility’s relentless commitment to safety. The new design delivers best in class Static Rollover Threshold (SRT) in the industry. SRT is a measure of a trailer’s resistance to rollovers.

“As we continue to grow and provide decarbonization solutions, it is essential to have partners like Hexagon Agility who are driving innovation in our industry. TITAN has become a pillar of our fleet. The new 450 presents exciting opportunities with its increased capacity, which will allow us to increase productivity, and it carries the commitment to quality and safety that we have come to expect from Hexagon Agility,” said Curtis Philippon, President and CEO of Certarus. “We are pleased be the launch customer for this exciting new product.”

About the market

Natural gas is a low carbon, cost effective alternative energy. RNG is the only available carbon negative energy source. It is being rapidly adopted to drive decarbonization of industrial and vehicle fleet operations.

Hexagon Agility’s Mobile Pipeline^® solutions have the largest transport capacity worldwide and enable the safe transport of RNG/CNG or other industrial gases by truck, marine vessel, or rail - allowing users lacking pipeline infrastructure to reduce energy costs and greenhouse gas emissions quickly and efficiently.

With more than 1,800 Mobile Pipeline modules now deployed around the world, Hexagon Agility continues to set the standard for safety, reliability, and performance.

Timing

The new TITAN 450 modules will be produced at Hexagon Agility’s facility in Lincoln, Nebraska and are expected to be delivered in the third quarter of 2023.

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

About Certarus

Certarus is the North American leader in providing on-road low carbon energy solutions through a fully integrated CNG, RNG, and hydrogen platform. Certarus safely delivers clean burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Certarus is leading the energy transition and helping customers lower operating costs and improve environmental performance. With the largest fleet of mobile storage units in North America, Certarus is uniquely positioned to meet the growing demand for low and zero emission energy distribution. Learn more at certarus.com

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. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles 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 www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.