Hexagon Composites' subsidiary Hexagon Lincoln 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 8.1 million (around NOK 70 million).
The Mobile Pipeline® modules will support Certarus' expansion in the U.S. and Canada bolstering natural gas supply to domestic and industrial users. When pipeline transmission is unexpectedly interrupted, additional natural gas is needed to supplement the winter energy needs of home owners and businesses. Transporting CNG by truck ensures that concerned residents keep their homes warm and businesses have the energy required to maintain operations.
Certarus fills its Mobile Pipeline® trailers from pipeline with excess capacity and transports the gas by truck before re-injecting it into constrained or under-served areas on the gas grid to establish a virtual interconnect. The flexibility of Mobile Pipeline® also allows Certarus to reach customers beyond the gas grid ensuring that more and more people have access to clean and affordable natural gas.
"Certarus continues to demonstrate strong energy leadership advancing the mobile pipeline industry. They rely on their dependable and growing fleet of TITAN® modules to meet the rapidly increasing needs of energy providers for safe and reliable transportation of compressed natural gas," says Jon Smith, President of Hexagon Lincoln. "We are proud to partner up with Certarus, who is recognized for its exemplary performance and strong safety record in the market."
"The TITAN® has proved to be the workhorse of our Mobile Pipeline fleet. Its robust design allows us to take it just about anywhere, including into remote off-road areas. Hexagon consistently provides superior services over the lifetime of operations and has been our trusted partner since we developed the business," says Curtis Philippon, President & CEO of Certarus Ltd.
Deliveries of the TITAN® 4 modules are scheduled to commence in the first quarter of 2019 and continue through second quarter of 2019.
Recently, Hexagon and Certarus extended their strategic long-term agreement. This new follow-on order continues to affirm Hexagon's class leading product performance and unmatched after-sales service support.
For more information: Jon Smith, President, Hexagon Lincoln LLC Telephone: +1 402 470 4045 | jon.smith@hexagonlincoln.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 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.
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