Hexagon Agility Expands RNG Fuel System Orders
Hexagon Agility, a subsidiary of Hexagon Composites ASA (OSE: HEX.OL) and a premier provider of renewable natural gas (RNG) fuel systems, has recently announced a significant increase in orders amounting to USD 4.3 million. These new orders specifically focus on RNG/CNG fuel system installations in trucks equipped with the Cummins X15N natural gas engine, tailored for the heavy-duty commercial truck market in North America.
Overview of New Orders
The influx of orders includes participation from over 30 leading Class 8 fleets, with an impressive 40% of these fleets being first-time users of RNG/CNG technology.
Leading Manufacturers Embracing RNG/CNG
Top truck manufacturers Kenworth and Peterbilt, recognized as frontrunners within the Class 8 truck industry, are currently providing natural gas truck options utilizing the cutting-edge X15N engine. Furthermore, Daimler has declared intentions to commence production of its own line of X15N-powered trucks in the near future.
The Power of the X15N Engine
According to Eric Bippus, EVP of Sales and Systems Development at Hexagon Agility, "With the introduction of the new 15-liter X15N engine, RNG-powered trucks are now capable of matching the performance benchmarks previously set by diesel engines. Trucks equipped with our fuel systems can achieve an impressive range of up to 1,200 miles. This opens doors to a fresh segment within the trucking industry, leading to significant cost savings alongside substantial reductions in emissions." His statements reflect the positive momentum seen through successful pilot programs and a surge in fleet orders.
Comparing Natural Gas and Diesel
The Cummins X15N natural gas engine is strategically designed for a wide array of long-haul applications, closely rivaling diesel counterparts while drastically decreasing pollution outputs. Utilizing RNG/CNG, this engine fully complies with the stringent EPA and CARB regulations set forth for 2024 and 2027.
Market Presence in North America
In North America, approximately 330,000 heavy-duty trucks find new ownership each year. Out of this figure, around 100,000 trucks represent a viable market for RNG/CNG solutions. Current offerings available in 9- and 12-liter natural gas engines cater to vocational and regional haul applications effectively. This is further bolstered by an extensive network featuring over 1,600 public and private RNG/CNG fueling stations positioned strategically along major transport routes.
Increasing Range and Capability
With power ratings reaching up to 500 hp and torque levels surpassing 1850 lb.-ft, the X15N engine fulfills the requirements for long-haul and heavy loading tasks. Notably, its range of up to 1,200 miles positions it as formidable competition against traditional diesel engines, elevating the potential for 230,000 additional heavy-duty trucks to consider RNG/CNG options annually.
Contact Information
For those seeking more information, please reach out to:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950
David Bandele, CFO, Hexagon Composites ASA
Telephone: +47 920 91 483
About Hexagon Agility
Hexagon Agility stands at the forefront of providing clean fuel solutions specifically designed for commercial vehicles and gas transport solutions. Its product line features renewable natural gas storage systems, Type 4 composite natural gas cylinders, and innovative fuel systems, all dedicated to enabling vehicles to minimize emissions while concurrently lowering operating costs.
About Hexagon Composites ASA
Dedicated to a cleaner energy future, Hexagon emphasizes safe and innovative solutions that facilitate the storage, transportation, and conversion to clean energy across various mobility, industrial, and consumer applications.
Frequently Asked Questions
What is Hexagon Agility's recent announcement about?
Hexagon Agility has announced an increase in orders for RNG/CNG fuel systems in Class 8 trucks powered by the Cummins X15N natural gas engine.
What is the significance of the Cummins X15N engine?
The Cummins X15N engine is designed for long-haul applications and can match the performance of diesel engines while reducing emissions.
Who are the key truck manufacturers involved?
Leading manufacturers like Kenworth and Peterbilt are offering natural gas truck options equipped with the X15N engine.
How does RNG/CNG benefit the trucking industry?
RNG/CNG technology offers significant cost savings and emission reduction, making it a favorable choice for fleets looking to adopt cleaner solutions.
What is the number of heavy-duty trucks sold annually in North America?
Approximately 330,000 heavy-duty trucks are sold each year in the North American market.
