Hexagon Composites' wholly-owned subsidiary Agility Fuel Solutions has signed an exclusive long-term agreement with New Flyer Industries Canada ULC and New Flyer of America Inc. (collectively, "New Flyer") for the supply of compressed natural gas (CNG) cylinders for transit buses.
"We are pleased to continue our partnership with Agility to deliver clean fuel technologies, and improve the value proposition for our customers," says David White, Executive Vice President of Supply Management, NFI Group Inc. ("NFI"). "Over the course of our 25-year relationship, we have delivered more than 13,000 CNG equipped buses with Agility, which over their useful lives will reduce CO2 emissions by approximately 4.4 million metric tons compared to diesel."
The North American CNG transit bus market continues to grow steadily due to the environmental benefits and operating cost savings of CNG. About 35 percent of new transit bus orders are powered by natural gas.
"Emission from heavy-duty diesel vehicles are a major contributor to urban air pollution," says Chet Dawes, Senior Vice President - Cylinders & Europe, Agility. "Compressed natural gas (CNG) is one of the cleanest burning fuels available. We're happy to be a partner with New Flyer in delivering clean air to the communities where these fleets operate."
The multi-year agreement represents an estimated overall delivery value of USD 75 million (approximately NOK 640 million).
For more information:
Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA
Telephone: +47 958 66 790 | [email protected]
Solveig D Saether, Communication Manager, Hexagon Composites ASA
Telephone: +47 906 34 977 | [email protected]
About Hexagon Composites
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.
About Agility Fuel Solutions
Agility Fuel Solutions, a wholly-owned subsidiary of Hexagon Composites, is a leading global provider of clean fuel solutions for medium- and heavy-duty commercial vehicles. Agility has been manufacturing and servicing safe and reliable clean fuel solutions for commercial vehicle fleets and OEMs for more than 20 years, logging billions of miles on the road per year.
For more information, please visit www.hexagongroup.com | Follow us on Twitter: @HexagonASA
With over 6,100 team members, operating from 31 facilities across Canada and the United States, NFI is North America's largest bus manufacturer providing a comprehensive suite of mass transportation solutions under brands: New Flyer® (heavy-duty transit buses), ARBOC® (low-floor cutaway and medium-duty buses), MCI® (motor coaches), and NFI Parts(TM) (parts, support, and service). NFI buses incorporate the widest range of drive systems available including: clean diesel, natural gas, diesel-electric hybrid, and zero-emission electric (trolley, battery, and fuel cell) on proven bus platforms. In total, NFI supports over 74,000 buses and coaches currently in service across North America. News and information are available at www.nfigroup.com.
About New Flyer
New Flyer is North America's heavy-duty transit bus leader and offers the most advanced product line under the Xcelsior® and Xcelsior CHARGE(TM) brands. It also offers infrastructure development through New Flyer Infrastructure Solutions(TM), a service dedicated to providing safe, sustainable, and reliable charging and mobility solutions. New Flyer actively supports over 41,000 heavy-duty transit buses (New Flyer, NABI, and Orion) currently in service, of which 7,300 are powered by electric motors and battery propulsion and 1,600 are zero-emission. Further information is available at www.newflyer.com.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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Source: Hexagon Composites ASA via Globenewswire