Overview of New Orders
Hexagon Agility, a subsidiary of Hexagon Composites ASA and a leader in natural gas fuel systems, has recently secured a significant influx of orders amounting to USD 4.2 million for innovative fuel systems. These systems cater to trucks equipped with Cummins' X15N natural gas engine specifically designed for the heavy-duty truck segment.
Customer Base and Market Reach
This new set of orders has been made by over 10 prominent Class 8 fleets from various sectors, including logistics, food and beverage, oil and gas, and construction. This wide reach highlights the growing appeal of natural gas as a fuel alternative across different industries.
Response to Market Challenges
Despite the ongoing challenges in the freight market, there is a noticeable transition as fleets shift from diesel to natural gas. According to Eric Bippus, Chief Commercial Officer at Hexagon Agility, the demand for natural gas is rising due to its performance, which rivals that of traditional diesel engines, along with the associated fuel cost benefits and emissions reductions.
The Expanding North American Truck Market
The North American market sees around 300,000 heavy-duty trucks sold each year. Historically, the market for natural gas solutions only encompassed about 100,000 trucks. However, the introduction of the Cummins X15N natural gas engine has significantly expanded this market, now catering to an additional 200,000 heavy-duty trucks.
Performance and Specifications
The new 15L engine showcases impressive specifications with power ratings reaching up to 500 horsepower and torque levels of 1850 lb.-ft, effectively meeting the requirements for long-distance hauling. Additionally, it provides a competitive range of up to 1,200 miles, which closely mirrors the capabilities of conventional diesel engines.
Infrastructure for Natural Gas Trucking
One of the key factors promoting natural gas trucking is the extensive fueling infrastructure. There are over 1,600 public and private CNG/RNG fueling stations conveniently located across major transport routes in North America, making it easier for truck operators to refuel their vehicles.
Company Information and Future Plans
Hexagon Agility specializes in providing clean fuel solutions that enable commercial vehicles to operate more sustainably. Their product lineup includes lightweight composite natural gas cylinders and renewable natural gas systems that facilitate the reduction of emissions and operational costs. As demand for environmentally friendly solutions rises, Hexagon Agility remains committed to developing innovative technologies to serve its customer base.
Contacts:
Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Telephone: +47 988 92 161
David Bandele, CFO, Hexagon Composites
Telephone: +47 920 91 483
Frequently Asked Questions
What kind of orders did Hexagon Agility receive?
Hexagon Agility received new orders totaling USD 4.2 million for natural gas fuel systems for heavy-duty trucks.
Who are the customers behind the latest orders?
Over 10 leading Class 8 fleets from various industries have placed these orders.
Why are fleets shifting to natural gas fuel systems?
Fleets are transitioning to natural gas due to its diesel-like performance and cost-effective benefits in terms of fuel savings and reduced emissions.
How many heavy-duty trucks are sold in North America annually?
Approximately 300,000 heavy-duty trucks are sold each year in the North American market.
What is the role of infrastructure in natural gas trucking?
The infrastructure includes over 1,600 fueling stations that support the widespread adoption of natural gas as a fuel source for trucking.
