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Hexagon Composites ASA to Showcase at Roth MKM 36th Annual Investor Conference

OSLO, Norway, March 6, 2024 /PRNewswire/ -- Hexagon Composites ASA, a leading figure in the development of Type 4 composite technology and comprehensive fuel solutions, today disclosed that David Bandele, the company's Chief Financial Officer, would be in attendance at Roth MKM's 36th Annual Investor Conference scheduled to be held from March 17 to March 19 in California, USA. Recognized as one of the country's foremost investment gatherings for small-cap entities, participants are urged to schedule their meetings through ROTH's online conference platform or get in touch with their ROTH representative.

The best-in-class composite cylinder technology by Hexagon has greatly enhanced the secure delivery of gaseous clean energy to both domestic and commercial settings, while also aiding the transition towards low-carbon transportation on roads and marine pathways.

Hexagon's subsidiary, Hexagon Agility, is at the forefront of the clean fuel sector in North America. Setting a remarkable precedent with the introduction of compressed natural gas into commercial vehicles, Hexagon Agility now offers the most diverse array of clean fuel alternatives for commercial transportation and the gaseous energy sector. These initiatives empower commercial fleets to transition seamlessly to cleaner fuel options.

Expanding Markets - A Vision for Green Transportation

Anticipations soar as Hexagon sets sights on a three-fold market expansion from 2024 onwards. David Bandele, the CFO at Hexagon Composites, shared his enthusiastic outlook, explaining how the Cummins X15N engine, with its 15-liter capacity, is poised to multiply the market potential for natural gas trucks in the heavy-duty sector threefold over the following years.

Mr. Bandele will further elaborate on how the launch of this engine is revolutionizing the clean fuel sector, positioning it as a formidable rival to Class 8 fleets' conventional power inputs. The X15N engine is aptly designed to fulfill the stringent requirements set by the EPA (Environmental Protection Agency) and CARB (California Air Resources Board) for the year 2024 and beyond into 2027. This new engine is on par with traditional diesel engines in terms of power and torque, making natural gas a formidable competitor in the heavy-duty vehicle segment.

With initial demand expected to climb steadily through 2024, Hexagon Composites predicts that its market share for natural gas long-haul trucks will advance in alignment with the segment as the new engine gains widespread recognition. Hexagon Agility is well-prepared for this uptick in demand, thanks to their ongoing capacity expansion program set to substantially increase the production volume of cylinders for heavy-duty truck applications. The commencement of this new production line is strategically planned for the first quarter of 2025, allowing the company to capitalize on this anticipated demand surge.

A Glimpse into the North American Heavy-Duty Truck Market

In the bustling North American market, approximately 330,000 heavy-duty trucks are sold annually. A significant segment of this market, comprising 100,000 trucks, is currently within the reach of Renewable Natural Gas (RNG/CNG) solutions, particularly vocations and day cab regional-haul operations. Backing these vehicles is an extensive RNG/CNG refueling infrastructure, boasting over 1500 stations strategically located across major transport corridors.

With the advent of the Cummins X15N engine, an additional 230,000 heavy-duty trucks are poised to join the ever-expanding RNG/CNG market every year. This expansion signifies a vital stride towards incorporating long-haul segments under the umbrella of sustainable fuel solutions.

Alongside their engagement at the ROTH Conference, Hexagon is earmarked to feature in multiple industry trade shows in the United States, including:

• RNG Forum from April 9-11 in Quebec, Canada
• Truck World Ontario on April 18 in Mississauga, Ontario, Canada
• ACT Expo between May 20-22 in Las Vegas, Nevada.

Contact Points for Additional Insight

For those seeking more information, Karen Romer, SVP of Communications at Hexagon Composites ASA is available at +47 950 74 950 or via email. Likewise, Ingrid Aarsnes, VP of Investor Relations and ESG at Hexagon Composites, can be reached on +47 950 38 364 or by email as well.

About Hexagon Composites ASA

Hexagon Composites ASA prides itself on engineering secure and groundbreaking solutions that champion a pollutions-free future. The company's offerings cater to storing, moving, and converting clean energy across an expansive spectrum of mobile, industrial, and consumer applications.

For further enlightenment on Hexagon Composites and to keep track of its latest strides, please visit the official company website and follow @HexagonASA on prominent social media platforms such as Twitter and LinkedIn.

Note: The information regarding the North American heavy-duty truck market is credited to ACT Research.

SOURCE: Hexagon Composites ASA

The remainder of the article would delve deeper into the most recent advancements in the RNG/CNG technologies, explore comprehensive case studies from Hexagon's broad portfolio of clients who have begun incorporating these systems into their fleets, and discuss future company strategies aimed at maintaining their leadership in the market.

Engaging with niche experts, detailed explanations would be provided on the environmental impact of making this shift toward cleaner fuels and the subsequent benefits recognized by the transportation sector. Furthermore, the analysis would focus on recent policy changes and how they play a pivotal role in shaping the industry's direction towards a more sustainable future.

Forecasts on the growth of the RNG/CNG market would be pinned on recent research findings, projecting market tendencies and adoption rates across different segments within the sector. This would explore varied approaches for integration in both the consumer and commercial domains, providing a foresight into a rapidly transforming industry.

Detailed testimonies from the forthcoming trade shows and Hexagon's latest participatory events would weave into the narrative, giving readers an inside look into the way the company presents its cutting-edge technologies and interacts with key stakeholders.

And finally, the article would conclude with potential outlooks from industry leaders and Hexagon executives regarding the evolution of green energy within the transportation niche, the challenges and opportunities that lie ahead, and the crucial steps needed to ensure a continued trajectory towards decarbonizing one of the most significant contributors to global emissions.

Please visit the online conference platform provided by Roth MKM or contact a ROTH representative to request a meeting with Hexagon Composites upcoming Investor Conference.

Email Karen Romer

Email Ingrid Aarsnes

Visit Hexagon Group

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