{"version":"https://www.mfn.se/feed/version/1","title":"","home_page_url":"https://mfn.se/all/a/hexagon-composites.json","feed_url":"https://mfn.se/all/a/hexagon-composites.json","description":"MFN is a feed for press releases in regards to publicly traded companies","next_url":"https://mfn.se/all/a/hexagon-composites.json?limit=48&offset=48","items":[{"news_id":"561506da-229b-5713-9f8f-a325e634e7e5","group_id":"cd21fe97-5dd1-45e6-90a9-de0cb8a3d358","url":"https://mfn.se/cis/a/hexagon-composites/hexagon-composites-asa-mandatory-notification-of-trade-settlement-of-psus-561506da","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Mandatory notification of trade - settlement of PSUs","slug":"hexagon-composites-asa-mandatory-notification-of-trade-settlement-of-psus-561506da","publish_date":"2024-03-26T09:08:08Z","preamble":"26 March 2024: Reference is made to the stock exchange release on 22 March 2024,\nregarding settlement of Performance Share Units (\"PSUs\") to senior executives\nand entitled employees. Pursuant to a sales process conducted by a third party\nto settle tax obligations, the following primary insiders have sold shares at a\nprice of NOK 18.5655 per share:\n","html":"
26 March 2024: Reference is made to the stock exchange release on 22 March 2024, regarding settlement of Performance Share Units ("PSUs") to senior executives and entitled employees. Pursuant to a sales process conducted by a third party to settle tax obligations, the following primary insiders have sold shares at a price of NOK 18.5655 per share:
* Ashley Remillard, SVP Legal & Government Affairs
* Karen Romer, SVP Communication
* Rick Rashilla, SVP Sustainability
Further details of the primary insider's transactions pursuant to the market abuse regulation article 19 are attached.
For more information:
Ingrid Aarsnes, VP IR & ESG, Hexagon Composites
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
22 March 2024: Reference is made to the announcement on 2 May 2021, in which Hexagon Composites ASA (the "Company") announced the provisional award of up to 1 734 990 Performance Share Units ("PSUs") to senior executives and entitled employees. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10. The total program ended at 813 421 PSUs of which 225 411 PSUs have been awarded to primary insiders.
The transaction is settled in treasury shares, following the transaction, the Company holds 566 433 treasury shares. Further details of the primary insiders' transactions pursuant to the market abuse regulation article 19 are attached.
For more information:
Ingrid Aarsnes, VP IR & ESG, Hexagon Composites
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
22 March 2024: The Annual General Meeting of Hexagon Composites ASA (OSE: HEX.OL) will be held on 17 April 2024 at 12:30 CEST at the company's offices in Korsegata 4B, Aalesund, Norway.
All documents related to the Annual General Meeting, including the annual report 2023 are available at https://hexagongroup.com/annual-general-meeting-2024
For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Email: ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
22 March 2024: The Board of Directors of Hexagon Composites ASA has approved the company's Annual and Sustainability report for 2023.
The documents are also available on www.hexagongroup.com
For more information:
Ingrid Aarsnes, VP IR & ESG, Hexagon Composites
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
","text":"22 March 2024: The Board of Directors of Hexagon Composites ASA has approved the\ncompany's Annual and Sustainability report for 2023.\n\nPlease find attached the following documents:\n\n* Hexagon Composites' Annual and Sustainability report 2023 in European Single\n Electronic Format (ESEF)\n* Copy of Hexagon Composites' Annual and Sustainability report 2023 in pdf.\n* Corporate Governance report 2023\n\nThe documents are also available on www.hexagongroup.com\n\nFor more information:\n\nIngrid Aarsnes, VP IR & ESG, Hexagon Composites\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com\n\nKaren Romer, SVP Communications, Hexagon Composites\nTelephone: +47 950 74 950 | karen.romer@hexagongroup.com\n\nAbout Hexagon Composites ASA\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation, and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more at\nwww.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.\n\nThis information is subject to the disclosure requirements pursuant to Section\n5-12 the Norwegian Securities Trading Act\n","attachments":[{"file_title":"PDF","content_type":"application/pdf","url":"https://mb.cision.com/Main/22853/3950230/2688346.pdf","tags":[]},{"file_title":"File","content_type":"application/octet-stream","url":"https://mb.cision.com/Main/22853/3950230/2688593.zip","tags":[]},{"file_title":"PDF","content_type":"application/pdf","url":"https://mb.cision.com/Public/22853/3950230/97c3d4a064422916.pdf","tags":[]}]},"extensions":{},"source":"cis"},{"news_id":"3427db14-e05e-5ccb-8e5a-b7ab40f45ed7","group_id":"a7eaf62c-9f24-48ad-97f0-b7275b010b5b","url":"https://mfn.se/cis/a/hexagon-composites/hexagon-composites-asa-total-return-swap-agreement-extended-3427db14","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Total Return Swap agreement extended","slug":"hexagon-composites-asa-total-return-swap-agreement-extended-3427db14","publish_date":"2024-03-15T15:41:33Z","preamble":"15 March 2024: Hexagon Composites refers to the Stock Exchange announcement from\n29 June 2023 where a Total Return Swap (\"TRS\") agreement with the Company's\nNordic banking partners was described. The TRS agreement has been extended to 31\nMarch 2025 at the same terms and conditions.\n","html":"15 March 2024: Hexagon Composites refers to the Stock Exchange announcement from 29 June 2023 where a Total Return Swap ("TRS") agreement with the Company's Nordic banking partners was described. The TRS agreement has been extended to 31 March 2025 at the same terms and conditions.
Hexagon Composites' financial exposure in Hexagon Purus remains unchanged at 120,101,133 shares, equivalent to 43% of total shares while the ownership and voting rights are equal to approximately 38%.
For further information, please contact:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
Hexagon Agility, the world's leading provider of (renewable) natural gas fuels systems, confirms new orders for CNG / RNG fuel system installations on pilot trucks powered by Cummins' new X15N natural gas engine developed for the North American commercial truck market. These orders are destined for major fleets and cover two leading original equipment manufacturers (OEMs). The orders come in addition to existing pilots that are already on the road with Hexagon Agility fuels systems.
Order books are now open
As of February, Kenworth Truck Company, one of the top three truck OEMs in North America, is the first to open its order books for trucks powered by the Cummins X15N engine.
Kenworth and Cummins have stated that trucks equipped with the X15N engine will be in serial production by mid-2024 with initial deliveries expected early in the third quarter.
Natural gas goes head-to-head with diesel in the heavy-duty sector
"The launch of the Cummins X15N, 15-liter engine will triple the addressable market for heavy-duty natural gas trucks over the next few years," says Eric Bippus, EVP Sales & Systems Development, Hexagon Agility. "This is a game-changer for our niche industry, enabling a powerhouse solution for Class 8 fleets traveling locally and cross country. The 15-liter delivers enhanced fuel efficiency and maximum uptime."
The highly anticipated, industry-first X15N natural gas engine by Cummins is designed to deliver a range of long-haul applications like diesel - while significantly reducing emissions. Powered by RNG/CNG the X15N is capable of meeting stringent EPA and CARB regulations in 2024 and 2027. With power ratings up to 500 hp (~370 kW) and torque up to 1850 lb.-ft, (~2500 Nm) the engine allows natural gas to go head-to-head with diesel in the heavy-duty sector.
Hexagon Agility expands capacity as more fleets are expected to "make the switch"
Hexagon Agility expects demand for the new engine will ramp-up gradually during 2024 and the Company's addressable market for natural gas long-haul trucks will increase at pace with the segment when this new engine is widely available.
Hexagon Agility's current capacity expansion program will substantially increase cylinder volumes for heavy-duty truck applications. Production start for the new line is set for the first quarter of 2025, to coincide with the increased market demand. Learn more in Hexagon's Q4 2023 results presentation (https://hexagongroup.com/news/hexagon-composites-asa-fourth-quarter-2023).
About the North America heavy-duty truck market
Approximately 330,000 heavy duty trucks are sold annually in the North American market[1].
100,000 of these trucks make up the addressable market for (renewable) natural gas (RNG/CNG) solutions currently. The 9- and 12- liter natural gas engines on the market are a good match for the usage patterns of these trucks - vocational and day cab regional haul applications, mainly. This is supported by a strong RNG/CNG filling station network of 1500+ stations across all key transport corridors in North America.
The introduction of the Cummins X15 will unlock the long-haul market segment for RNG/CNG that requires high horsepower applications and can demand a range of up to 1,300 miles/2,000 km (matching the capabilities of diesel). This adds 230,000 heavy duty trucks to the addressable RNG/CNG market annually.
For more information, please contact:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Jelena Rowe, Senior Manager Marketing & Communications, Hexagon Agility
Telephone: +1 310-872-0535| jelena.rowe@hexagonagility.com
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgilityon Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
1)Source: ACT Research
","text":"Hexagon Agility, the world's leading provider of (renewable) natural gas fuels\nsystems, confirms new orders for CNG / RNG fuel system installations on pilot\ntrucks powered by Cummins' new X15N natural gas engine developed for the North\nAmerican commercial truck market. These orders are destined for major fleets and\ncover two leading original equipment manufacturers (OEMs). The orders come in\naddition to existing pilots that are already on the road with Hexagon Agility\nfuels systems.\n\nOrder books are now open\nAs of February, Kenworth Truck Company, one of the top three truck OEMs in North\nAmerica, is the first to open its order books for trucks powered by the Cummins\nX15N engine.\nKenworth and Cummins have stated that trucks equipped with the X15N engine will\nbe in serial production by mid-2024 with initial deliveries expected early in\nthe third quarter.\n\nNatural gas goes head-to-head with diesel in the heavy-duty sector\n\"The launch of the Cummins X15N, 15-liter engine will triple the addressable\nmarket for heavy-duty natural gas trucks over the next few years,\" says Eric\nBippus, EVP Sales & Systems Development, Hexagon Agility. \"This is a\ngame-changer for our niche industry, enabling a powerhouse solution for Class 8\nfleets traveling locally and cross country. The 15-liter delivers enhanced fuel\nefficiency and maximum uptime.\"\n\nThe highly anticipated, industry-first X15N natural gas engine by Cummins is\ndesigned to deliver a range of long-haul applications like diesel - while\nsignificantly reducing emissions. Powered by RNG/CNG the X15N is capable of\nmeeting stringent EPA and CARB regulations in 2024 and 2027. With power ratings\nup to 500 hp (~370 kW) and torque up to 1850 lb.-ft, (~2500 Nm) the engine\nallows natural gas to go head-to-head with diesel in the heavy-duty sector.\n\nHexagon Agility expands capacity as more fleets are expected to \"make the\nswitch\"\nHexagon Agility expects demand for the new engine will ramp-up gradually during\n2024 and the Company's addressable market for natural gas long-haul trucks will\nincrease at pace with the segment when this new engine is widely available.\n\nHexagon Agility's current capacity expansion program will substantially increase\ncylinder volumes for heavy-duty truck applications. Production start for the new\nline is set for the first quarter of 2025, to coincide with the increased market\ndemand. Learn more in Hexagon's Q4 2023 results presentation\n(https://hexagongroup.com/news/hexagon-composites-asa-fourth-quarter-2023).\n\nAbout the North America heavy-duty truck market\nApproximately 330,000 heavy duty trucks are sold annually in the North American\nmarket[1].\n100,000 of these trucks make up the addressable market for (renewable) natural\ngas (RNG/CNG) solutions currently. The 9- and 12- liter natural gas engines on\nthe market are a good match for the usage patterns of these trucks - vocational\nand day cab regional haul applications, mainly. This is supported by a strong\nRNG/CNG filling station network of 1500+ stations across all key transport\ncorridors in North America.\n\nThe introduction of the Cummins X15 will unlock the long-haul market segment for\nRNG/CNG that requires high horsepower applications and can demand a range of up\nto 1,300 miles/2,000 km (matching the capabilities of diesel). This adds 230,000\nheavy duty trucks to the addressable RNG/CNG market annually.\n\nFor more information, please contact:\n\nKaren Romer, SVP Communications, Hexagon Composites\nTelephone: +47 950 74 950 | karen.romer@hexagongroup.com\n\nJelena Rowe, Senior Manager Marketing & Communications, Hexagon Agility\nTelephone: +1 310-872-0535| jelena.rowe@hexagonagility.com\n\nAbout Hexagon Agility\nHexagon Agility, a business of Hexagon Composites, is a leading global provider\nof clean fuel solutions for commercial vehicles and gas transportation\nsolutions. Its product offerings include (renewable) natural gas storage and\ndistribution systems, Type 4 composite natural gas cylinders, and (renewable)\nnatural gas fuel systems. These products transport clean gaseous fuels and\nenable vehicles to reduce emissions while saving operating costs. Learn more at\nhexagonagility.com and follow @HexagonAgilityon Twitter and LinkedIn.\n\nAbout Hexagon Composites ASA\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more at\nhexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.\n\n1)Source: ACT Research\n"},"extensions":{},"source":"cis"},{"news_id":"e15023a7-9c28-5468-8708-440e89bd6f96","group_id":"b57635c7-0808-4d1e-a83b-9498c04abd2e","url":"https://mfn.se/cis/a/hexagon-composites/correction-hexagon-composites-asa-mandatory-notification-of-trade-provisional-award-of-psus-e15023a7","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Correction: Hexagon Composites ASA: Mandatory notification of trade - provisional award of PSUs","slug":"correction-hexagon-composites-asa-mandatory-notification-of-trade-provisional-award-of-psus-e15023a7","publish_date":"2024-02-22T11:40:00Z","html":"Corrected number of PSUs in text
22 February 2024: The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has resolved to provisionally award up to 5,443,690 Performance Share Units ("PSUs") to executives. The PSU allocation is in accordance with the Board of Director's compensation policy for the executive management. This policy is described in the Company's Guidelines for remuneration of executive management as approved at the Annual General Meeting on 28 April 2021. The PSUs are non-transferable and will vest on 31 March 2027 subject to satisfaction of the applicable vesting conditions.
The actual number of PSUs to be allocated will depend on 2026 financial performance in addition to the development of market cap of the Company from award up to vesting. The number of PSUs will attain minimum zero and maximum 5,443,690. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10. The total number of outstanding restricted share units and PSUs are now 512,376 and provisionally 2,721,845 respectively. Of the maximum 5,443,690 provisionally awarded PSUs, maximum 1,510,680 PSUs will provisionally be awarded to primary insiders.
Further details of the primary insider's transactions pursuant to the market abuse regulation article 19 are attached.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and
LinkedIn.
22 February 2024: The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has resolved to provisionally award up to 4,929,268 Performance Share Units ("PSUs") to executives. The PSU allocation is in accordance with the Board of Director's compensation policy for the executive management. This policy is described in the Company's Guidelines for remuneration of executive management as approved at the Annual General Meeting on 28 April 2021. The PSUs are non-transferable and will vest on 31 March 2027 subject to satisfaction of the applicable vesting conditions.
The actual number of PSUs to be allocated will depend on 2026 financial performance in addition to the development of market cap of the Company from award up to vesting. The number of PSUs will attain minimum zero and maximum 4,929,268. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10. The total number of outstanding restricted share units and PSUs are now 512,376 and provisionally 8,953,988 respectively. Of the maximum 4,929,268 provisionally awarded PSUs, maximum 1,510,680 PSUs will provisionally be awarded to primary insiders.
Further details of the primary insider's transactions pursuant to the market abuse regulation article 19 are attached.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and
LinkedIn.
15 February 2024: Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems that enable safe delivery of clean gaseous energy for mobility, distribution, industries and homes, reported revenues of NOK ~5.2 billion for the year (4.3) and EBITDA of NOK 480 million (348). In the fourth quarter 2023, the Company delivered NOK 1 437 (1 276) million and an EBITDA of NOK 126 (105) million.
In the fourth quarter 2023, Hexagon recorded a one-off, non-cash impairment charge of its equity investment in Hexagon Purus of NOK 702 million. The accounting-driven impairment charge was a result of Hexagon Purus' negative share price development in the second half of 2023. For the full year 2023, the profit after tax reached NOK 1 136 million, primarily due to improved operational performance and a NOK 2 351 million gain from the deconsolidation of Hexagon Purus in June 2023.
"Our teams delivered a strong finish to the year, and we passed the NOK 5 billion annual revenue mark. Hexagon Agility's Mobile Pipeline distribution business was a key profit driver, combined with the successful recovery from the post covid cost inflation impacts," says Jon Erik Engeset, Group CEO of Hexagon Composites.
For 2023, full year revenues were NOK 5 186 (4 303) million, mainly driven by record high activity in the Mobile Pipeline distribution business. The full year EBITDA totaled NOK 480 (348) million after NOK 27 million of one-off charges related to restructuring and strategic projects.
Outlook
Going forward, Hexagon has much to look forward to, including the continuation of strong Renewable Natural Gas driven growth in the Mobile Pipeline business, and the upcoming launch of Cummins' new 15-liter natural gas engine, increasing the addressable market for natural gas fuel systems in North America by a factor of three. With digital innovation at the forefront, Hexagon expects to see renewed growth for the LPG cylinder business, and further strong growth for the high-pressure cylinder testing and requalification business.
For further details, please see the attached fourth quarter 2023 report and presentation.
Presentation of the results today at 08:30 am CET
Jon Erik Engeset (CEO) and David Bandele (CFO) will present the results at 08:30 am today in Oslo. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. If you would like to attend the presentation, please pre-register by emailing ir@hexagongroup.com,alternatively register upon arrival.
The presentation will also be broadcast live via: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240215_9
For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more atwww.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
1 February 2024: Hexagon Composites ASA's fourth quarter 2023 results will be released on 15 February 2024 at 07:00 am CET.
Jon Erik Engeset, CEO and David Bandele, CFO will present the results at 08:30 am the same morning.
The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. If you would like to attend the presentation, please pre-register by emailing ir@hexagongroup.com,alternatively register upon arrival.
The presentation will also be broadcasted live via: Hexagon Composites ASA Webcast Q4 2023 (royalcast.com) (https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240215_9)
For further information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
23 January 2024: Hexagon Digital Wave, a business of Hexagon Composites, has signed a long-term agreement with Linde Gas & Equipment Inc. (LG&E), a leading distributor of packaged and microbulk industrial, medical and specialty gases, and related hardgoods and safety equipment in the United States. The agreement covers the supply and service of Ultrasonic Examination (UE) testing equipment and services globally. The UE testing equipment will be used globally for requalification of Type 1 metallic cylinders used in various industrial and medical applications. LG&E is an indirect, wholly owned subsidiary of Linde plc.
The newly signed agreement confirms Hexagon Digital Wave's position as a long-term supplier to LG&E.
Reduced cost and increased safety
"This agreement reflects the further strengthening of our business relationship with the great team at Linde Gas & Equipment," says George Siedlecki, CEO of Hexagon Digital Wave. "Over the past 16 years we have supplied our equipment and expertise to one of the global market leaders in the industrial gases market and helped to improve the safety of their cylinders." The non-destructive UE test and process enables operators to detect even the smallest defects in metallic cylinders without removing the valve or product. The use of UE significantly reduces cost, cylinder downtime and water consumption.
The market continues to adopt UE testing for higher safety and testing efficiencies. UE advantages include reduced labor to inspect cylinders, detection and analysis of suspected flaws, retention of gas product and elimination of re-pressurization energy.
"Hexagon Digital Wave understands the importance of the safety of cylinders across the globe. We strongly believe that the precision, convenience and environmental benefits of UE testing of metallic cylinders give it a significant competitive advantage over hydrostatic testing which is currently used in the market today," concludes Siedlecki.
Contacts:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP IR & ESG, Hexagon Composites
Telephone: +47 950 38 364| Ingrid.aarsnes@hexagongroup.com
About Hexagon Digital Wave
Hexagon Digital Wave, a subsidiary of Hexagon Composites ASA, is a manufacturer of Ultrasonic Examination (UE) cylinder testing equipment, Modal Acoustic Emission (MAE) testing equipment and a provider of associated inspection services. With applications worldwide, Hexagon Digital Wave serves government entities, academic institutes, and private clients in the compressed gas and pressure vessel industries.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications.
Learn more at www.hexagongroup.com (https://eur02.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.hexagongroup.com%2F&data=05%7C02%7CKeith.Fountain%40hexagondigitalwave.com%7Cb67763cc71e041c6f9c808dbfff6da9a%7C3d2b5d62cb8c4078bfac5ec72f62f0f1%7C0%7C0%7C638385207927374361%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=hkyO%2B%2BzQ4iY0pInPcgKHYrNBcovtOR60UhVPDEkjFTg%3D&reserved=0) and follow @HexagonASAon Twitter and LinkedIn
","text":"23 January 2024: Hexagon Digital Wave, a business of Hexagon Composites, has\nsigned a long-term agreement with Linde Gas & Equipment Inc. (LG&E), a leading\ndistributor of packaged and microbulk industrial, medical and specialty gases,\nand related hardgoods and safety equipment in the United States. The agreement\ncovers the supply and service of Ultrasonic Examination (UE) testing equipment\nand services globally. The UE testing equipment will be used globally for\nrequalification of Type 1 metallic cylinders used in various industrial and\nmedical applications. LG&E is an indirect, wholly owned subsidiary of Linde plc.\n\nThe newly signed agreement confirms Hexagon Digital Wave's position as a\nlong-term supplier to LG&E.\n\nReduced cost and increased safety\n\"This agreement reflects the further strengthening of our business relationship\nwith the great team at Linde Gas & Equipment,\" says George Siedlecki, CEO of\nHexagon Digital Wave. \"Over the past 16 years we have supplied our equipment and\nexpertise to one of the global market leaders in the industrial gases market and\nhelped to improve the safety of their cylinders.\" The non-destructive UE test\nand process enables operators to detect even the smallest defects in metallic\ncylinders without removing the valve or product. The use of UE significantly\nreduces cost, cylinder downtime and water consumption.\n\nThe market continues to adopt UE testing for higher safety and testing\nefficiencies. UE advantages include reduced labor to inspect cylinders,\ndetection and analysis of suspected flaws, retention of gas product and\nelimination of re-pressurization energy.\n\n\"Hexagon Digital Wave understands the importance of the safety of cylinders\nacross the globe. We strongly believe that the precision, convenience and\nenvironmental benefits of UE testing of metallic cylinders give it a significant\ncompetitive advantage over hydrostatic testing which is currently used in the\nmarket today,\" concludes Siedlecki.\n\nContacts:\nKaren Romer, SVP Communications, Hexagon Composites\nTelephone: +47 950 74 950 | karen.romer@hexagongroup.com\n\nIngrid Aarsnes, VP IR & ESG, Hexagon Composites\nTelephone: +47 950 38 364| Ingrid.aarsnes@hexagongroup.com\n\nAbout Hexagon Digital Wave\nHexagon Digital Wave, a subsidiary of Hexagon Composites ASA, is a manufacturer\nof Ultrasonic Examination (UE) cylinder testing equipment, Modal Acoustic\nEmission (MAE) testing equipment and a provider of associated inspection\nservices. With applications worldwide, Hexagon Digital Wave serves government\nentities, academic institutes, and private clients in the compressed gas and\npressure vessel industries.\n\nAbout Hexagon Composites ASA\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications.\n\nLearn more at www.hexagongroup.com\n(https://eur02.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.hexagongro\nup.com%2F&data=05%7C02%7CKeith.Fountain%40hexagondigitalwave.com%7Cb67763cc71e04\n1c6f9c808dbfff6da9a%7C3d2b5d62cb8c4078bfac5ec72f62f0f1%7C0%7C0%7C638385207927374\n361%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwi\nLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=hkyO%2B%2BzQ4iY0pInPcgKHYrNBcovtOR60UhVPDEk\njFTg%3D&reserved=0) and follow @HexagonASAon Twitter and LinkedIn\n"},"extensions":{},"source":"cis"},{"news_id":"dbd64c1c-3de3-53d6-af93-5c7afa7d8239","group_id":"3bf24870-7a3c-4d4f-9944-b7d279f4dfe1","url":"https://mfn.se/ob/a/hexagon-composites/hex-hexagon-agility-receives-order-from-rev-lng-for-mobile-pipeline-r-titan-products-to-meet-growing-demand-for-rng-dbd64c1c","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"HEX: Hexagon Agility receives order from REV LNG for Mobile Pipeline® TITAN products to meet growing demand for RNG","slug":"hex-hexagon-agility-receives-order-from-rev-lng-for-mobile-pipeline-r-titan-products-to-meet-growing-demand-for-rng-dbd64c1c","publish_date":"2024-01-10T07:46:23Z","html":"10 January 2024: Hexagon Agility, a business of Hexagon Composites, has received","text":"10 January 2024: Hexagon Agility, a business of Hexagon Composites, has received\na new order for TITAN Mobile Pipeline® modules from REV LNG, a leading\nfull-service mobile energy supply and project development company. The modules\nwill be used to transport and deliver renewable natural gas (RNG) to its\ncustomers within the US. \n\nThis order represents an estimated value of USD 19 million (approx. NOK 197\nmillion).\n\n\"Our customers are continuing to diversify their energy portfolios and are\nembracing RNG as the key solution to reduce greenhouse gas emissions,\" says\nDavid Kailbourne, President and CEO of REV LNG. \"The reliability of Hexagon\nAgility's Mobile Pipeline products is excellent and allows us to meet our\ncustomers' demand.\"\n\nDriving energy transformation\n\nIn every industry, whether it is compressed natural gas (CNG) or RNG, there is a\nstrong desire among customers to transport larger quantities of gas with\nefficiency and safety in mind. For more than ten years, Hexagon Agility's TITAN\nmodules have provided customers with simple, safe and reliable equipment to\ntransport large volumes of CNG, environmentally friendly RNG, and other\ncompressed gases.\n\n\"Hexagon decided more that fifteen years ago to pursue game changing composite\ncylinder technology and modules to dramatically increase the volume of\ncompressed gases that could be transported,\" says Mark Babcock, Sr. Director of\nBusiness Development, Mobile Pipeline at Hexagon Agility. \"Our TITAN product\nenables customers like REV LNG to efficiently transport and deliver large\nvolumes of RNG. We look forward to continuing our ongoing partnership with REV\nLNG to achieve our vision of 'clean air everywhere'.\"\n\nTiming\n\nDeliveries of the Titan®53 modules are scheduled to start in the third quarter\nof 2024.\n\nFor more information: \n\nKaren Romer, SVP Communications, Hexagon Composites\nTelephone: +47 950 74 950 | karen.romer@hexagongroup.com\n\nIngrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com \n\n\nAbout REV LNG\n\nREV LNG is a full-service supplier of liquid natural gas (LNG), compressed\nnatural gas (CNG) and renewable natural gas (RNG) specializing in development,\nproduction, supply, transportation, and distribution solutions. As an integrated\nsolutions provider, REV has partnered with industry leading companies and led\nthe development of award-winning projects. Learn more at www.revlng.com.\n\n\nAbout Hexagon Agility\n\nHexagon Agility, a business of Hexagon Composites, is a leading global provider\nof clean fuel solutions for commercial vehicles and gas transportation. Its\nproduct offerings include (renewable) natural gas storage and distribution\nsystems, Type 4 composite natural gas cylinders, and (renewable) natural gas\nfuel systems. These products transport clean gaseous fuels and enable vehicles\nto reduce emissions while saving operating costs. Learn more at\nhexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.\n\n\nAbout Hexagon Composites ASA\n\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more at\nwww.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.\n"},"extensions":{},"source":"ob"},{"news_id":"ad19c224-2cc7-5b91-82bb-a0eb396abede","group_id":"40620531-a2fa-4667-89ee-cb80cf96f7f8","url":"https://mfn.se/cis/a/hexagon-composites/hexagon-composites-asa-hexagon-agility-receives-order-from-rev-lng-for-mobile-pipeline-r-titan-products-to-meet-growing-demand-for-rng-ad19c224","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Hexagon Agility receives order from REV LNG for Mobile Pipeline[®] TITAN products to meet growing demand for RNG","slug":"hexagon-composites-asa-hexagon-agility-receives-order-from-rev-lng-for-mobile-pipeline-r-titan-products-to-meet-growing-demand-for-rng-ad19c224","publish_date":"2024-01-10T07:20:34Z","preamble":"10 January 2024: Hexagon Agility, a business of Hexagon Composites, has received\na new order for TITAN Mobile Pipeline[®] modules from REV LNG, a leading\nfull-service mobile energy supply and project development company. The modules\nwill be used to transport and deliver renewable natural gas (RNG) to its\ncustomers within the US.\n","html":"
a new order for TITAN Mobile Pipeline® modules from REV LNG, a leading
full-service mobile energy supply and project development company. The modules
will be used to transport and deliver renewable natural gas (RNG) to its
customers within the US.
This order represents an estimated value of USD 19 million (approx. NOK 197
million).
"Our customers are continuing to diversify their energy portfolios and are
embracing RNG as the key solution to reduce greenhouse gas emissions," says
David Kailbourne, President and CEO of REV LNG. "The reliability of Hexagon
Agility's Mobile Pipeline products is excellent and allows us to meet our
customers' demand."
Driving energy transformation
In every industry, whether it is compressed natural gas (CNG) or RNG, there is a
strong desire among customers to transport larger quantities of gas with
efficiency and safety in mind. For more than ten years, Hexagon Agility's TITAN
modules have provided customers with simple, safe and reliable equipment to
transport large volumes of CNG, environmentally friendly RNG, and other
compressed gases.
"Hexagon decided more that fifteen years ago to pursue game changing composite
cylinder technology and modules to dramatically increase the volume of
compressed gases that could be transported," says Mark Babcock, Sr. Director of
Business Development, Mobile Pipeline at Hexagon Agility. "Our TITAN product
enables customers like REV LNG to efficiently transport and deliver large
volumes of RNG. We look forward to continuing our ongoing partnership with REV
LNG to achieve our vision of 'clean air everywhere'."
Timing
Deliveries of the Titan®53 modules are scheduled to start in the third quarter
of 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About REV LNG
REV LNG is a full-service supplier of liquid natural gas (LNG), compressed
natural gas (CNG) and renewable natural gas (RNG) specializing in development,
production, supply, transportation, and distribution solutions. As an integrated
solutions provider, REV has partnered with industry leading companies and led
the development of award-winning projects. Learn more at www.revlng.com.
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider
of clean fuel solutions for commercial vehicles and gas transportation. Its
product offerings include (renewable) natural gas storage and distribution
systems, Type 4 composite natural gas cylinders, and (renewable) natural gas
fuel systems. These products transport clean gaseous fuels and enable vehicles
to reduce emissions while saving operating costs. Learn more at
hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more at
www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
10 January 2024: Hexagon Agility, a business of Hexagon Composites, has received a new order for TITAN Mobile Pipeline[®] modules from REV LNG, a leading full-service mobile energy supply and project development company. The modules will be used to transport and deliver renewable natural gas (RNG) to its customers within the US.
This order represents an estimated value of USD 19 million (approx. NOK 197 million).
"Our customers are continuing to diversify their energy portfolios and are embracing RNG as the key solution to reduce greenhouse gas emissions," says David Kailbourne, President and CEO of REV LNG. "The reliability of Hexagon Agility's Mobile Pipeline products is excellent and allows us to meet our customers' demand."
Driving energy transformation
In every industry, whether it is compressed natural gas (CNG) or RNG, there is a strong desire among customers to transport larger quantities of gas with efficiency and safety in mind. For more than ten years, Hexagon Agility's TITAN modules have provided customers with simple, safe and reliable equipment to transport large volumes of CNG, environmentally friendly RNG, and other compressed gases.
"Hexagon decided more that fifteen years ago to pursue game changing composite cylinder technology and modules to dramatically increase the volume of compressed gases that could be transported," says Mark Babcock, Sr. Director of Business Development, Mobile Pipeline at Hexagon Agility. "Our TITAN product enables customers like REV LNG to efficiently transport and deliver large volumes of RNG. We look forward to continuing our ongoing partnership with REV LNG to achieve our vision of `clean air everywhere'."
Timing
Deliveries of the Titan[®]53 modules are scheduled to start in the third quarter of 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About REV LNG
REV LNG is a full-service supplier of liquid natural gas (LNG), compressed natural gas (CNG) and renewable natural gas (RNG) specializing in development, production, supply, transportation, and distribution solutions. As an integrated solutions provider, REV has partnered with industry leading companies and led the development of award-winning projects. Learn more at www.revlng.com.
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgilityon Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.
","text":"10 January 2024: Hexagon Agility, a business of Hexagon Composites, has received\na new order for TITAN Mobile Pipeline[®] modules from REV LNG, a leading\nfull-service mobile energy supply and project development company. The modules\nwill be used to transport and deliver renewable natural gas (RNG) to its\ncustomers within the US.\n\nThis order represents an estimated value of USD 19 million (approx. NOK 197\nmillion).\n\n\"Our customers are continuing to diversify their energy portfolios and are\nembracing RNG as the key solution to reduce greenhouse gas emissions,\" says\nDavid Kailbourne, President and CEO of REV LNG. \"The reliability of Hexagon\nAgility's Mobile Pipeline products is excellent and allows us to meet our\ncustomers' demand.\"\n\nDriving energy transformation\n\nIn every industry, whether it is compressed natural gas (CNG) or RNG, there is a\nstrong desire among customers to transport larger quantities of gas with\nefficiency and safety in mind. For more than ten years, Hexagon Agility's TITAN\nmodules have provided customers with simple, safe and reliable equipment to\ntransport large volumes of CNG, environmentally friendly RNG, and other\ncompressed gases.\n\n\"Hexagon decided more that fifteen years ago to pursue game changing composite\ncylinder technology and modules to dramatically increase the volume of\ncompressed gases that could be transported,\" says Mark Babcock, Sr. Director of\nBusiness Development, Mobile Pipeline at Hexagon Agility. \"Our TITAN product\nenables customers like REV LNG to efficiently transport and deliver large\nvolumes of RNG. We look forward to continuing our ongoing partnership with REV\nLNG to achieve our vision of `clean air everywhere'.\"\n\nTiming\n\nDeliveries of the Titan[®]53 modules are scheduled to start in the third quarter\nof 2024.\n\nFor more information:\n\nKaren Romer, SVP Communications, Hexagon Composites\n\nTelephone: +47 950 74 950 | karen.romer@hexagongroup.com\n\nIngrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA\n\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com\n\nAbout REV LNG\n\nREV LNG is a full-service supplier of liquid natural gas (LNG), compressed\nnatural gas (CNG) and renewable natural gas (RNG) specializing in development,\nproduction, supply, transportation, and distribution solutions. As an integrated\nsolutions provider, REV has partnered with industry leading companies and led\nthe development of award-winning projects. Learn more at www.revlng.com.\n\nAbout Hexagon Agility\n\nHexagon Agility, a business of Hexagon Composites, is a leading global provider\nof clean fuel solutions for commercial vehicles and gas transportation. Its\nproduct offerings include (renewable) natural gas storage and distribution\nsystems, Type 4 composite natural gas cylinders, and (renewable) natural gas\nfuel systems. These products transport clean gaseous fuels and enable vehicles\nto reduce emissions while saving operating costs. Learn more at\nhexagonagility.com and follow @HexagonAgilityon Twitter and LinkedIn.\n\nAbout Hexagon Composites ASA\n\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more at\nwww.hexagongroup.com and follow @HexagonASAon Twitter and LinkedIn.\n"},"extensions":{},"source":"cis"},{"news_id":"0ec29580-ac00-472c-8684-63224e7a5e6c","group_id":"ab0f525d-fde6-4ff0-b06c-50ba856cfafe","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-asa-participation-in-hexagon-purus-contemplated-convertible-bond-private-placement-0ec29580","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA - Participation in Hexagon Purus' contemplated convertible bond private placement","slug":"hexagon-composites-asa-participation-in-hexagon-purus-contemplated-convertible-bond-private-placement-0ec29580","publish_date":"2023-12-20T15:32:42Z","html":"20 December 2023: Reference is made to the stock exchange announcement from Hexagon Purus ASA ("Hexagon Purus" or the "Company") published 20 December 2023 at 16:31 (CET) whereby the Company announced the launch of a contemplated private placement of senior unsecured convertible bonds (the “Convertible Bonds”) raising gross proceeds of up to approximately NOK 1,000 million (the “Convertible Bond Private Placement”).
The Convertible Bond Private Placement is supported by Hexagon Composites ASA (“Hexagon Composites”), Mitsui & Co., Ltd. (“Mitsui”) and Hy24 Partners SAS (“Hy24”) through pre-commitments and pre-allocations for an aggregate of NOK 850 million, whereof Hexagon Composites has irrevocably committed to subscribe for, and will receive an allocation of NOK 200 million.
“Hexagon Purus has assumed market-leading positions in some of the strongest growing zero emission mobility and infrastructure technology segments globally. We are highly satisfied with the Company’s performance and growth to date. We intend to continue working closely together with Hexagon Purus in areas of mutual interest and benefit and as previously stated, retain a significant ownership stake, says Jon Erik Engeset, CEO of Hexagon Composites.”
The net proceeds from the Convertible Bond Private Placement will be used to support Hexagon Purus’ growth strategy, including its ongoing global capacity expansion program and delivering on customer commitments to reach its 2025 financial targets of NOK 4-5 billion in revenues and break-even EBITDA.
The settlement of the Convertible Bonds is expected to take place on or around 1 February 2024 and is conditional on an extraordinary general meeting (“EGM”) of the Company expected to be held on or about 11 January 2024 resolving to approve the issuance of the Convertible Bonds. Hexagon Composites and Mitsui have committed to vote in favour of the resolution at the EGM.
For key terms related to the Convertible Bond Private Placement, please refer to Hexagon Purus’ stock exchange announcement.
For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Ingrid Aarsnes, VP IR & ESG, Hexagon Composites ASA on 20 December 2023 at the time stamp of this release.
Financial calendar for Hexagon Composites ASA","text":"Financial calendar for Hexagon Composites ASA\n\nFINANCIAL YEAR 2023\n\n\n15.02.2024 - Quarterly Report - Q4\n\n\nFINANCIAL YEAR 2024\n\n15.08.2024 - Half-yearly Report\n22.03.2024 - Annual Report\n17.04.2024 - Annual General Meeting\n\n08.05.2024 - Quarterly Report - Q1\n07.11.2024 - Quarterly Report - Q3\n13.02.2025 - Quarterly Report - Q4\n\n\n\nThis information is published pursuant to the requirements set out in the\nContinuing obligations.\n"},"extensions":{},"source":"ob"},{"news_id":"1e51a902-c388-4dcf-999e-f135f5f8cba7","group_id":"f0c7892e-a0e5-4773-9371-4fad5ce8d8c4","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-asa-third-quarter-2023-1e51a902","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Third quarter 2023","slug":"hexagon-composites-asa-third-quarter-2023-1e51a902","publish_date":"2023-11-09T06:00:00Z","html":"
FINANCIAL YEAR 2023
15.02.2024 - Quarterly Report - Q4
FINANCIAL YEAR 2024
15.08.2024 - Half-yearly Report
22.03.2024 - Annual Report
17.04.2024 - Annual General Meeting
08.05.2024 - Quarterly Report - Q1
07.11.2024 - Quarterly Report - Q3
13.02.2025 - Quarterly Report - Q4
This information is published pursuant to the requirements set out in the
Continuing obligations.
9 November 2023: Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems that enable safe delivery of clean gaseous energy for mobility, distribution, industries and homes, reported revenues of NOK 1 252 (1 080) million in the third quarter 2023. This represents 16% growth compared to the same quarter last year, mainly driven by record high activity in Hexagon Agility’s Mobile Pipeline distribution business. The reported EBITDA was NOK 124 (68) million, after NOK 12 million in costs related to the ongoing strategic review of Hexagon Ragasco.
“Our Hexagon Agility business delivered high revenues and improved operational efficiency in the quarter. In combination with adjusted pricing, this resulted in improved EBITDA margins,” says Jon Erik Engeset, Group CEO of Hexagon Composites. “During the quarter we also initiated a strategic review of Hexagon Ragasco, a company we have owned for more than 20 years. It has an exciting pipeline of growth opportunities, and we wish to evaluate whether the company’s full potential can best be realized inside or outside the Hexagon Group.”
Outlook
In the second half of 2024, the launch of Cummins’ new 15-liter natural gas engine in the US is expected to be a game-changer in the heavy-duty truck segment, expanding the addressable market for long-haul trucks in the US threefold. To meet the expected demand, Hexagon is adding new cylinder capacity to its existing operations in North Carolina, US. In addition, with the current strong demand for Mobile Pipeline, capacity expansions for this segment are ongoing both in the US (Nebraska) and in Germany.
For further details, please see the attached third quarter 2023 report and presentation.
Presentation of the results today at 08:30 am CET
Jon Erik Engeset (CEO) and David Bandele (CFO) will present the results at 08:30 am today in Oslo. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. If you would like to attend the presentation, please pre-register by emailing ir@hexagongroup.com, alternatively register upon arrival.
The presentation will also be broadcast live via:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20231109_4
For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received an inaugural order for Mobile Pipeline® TITAN 450 modules from Promigas Peru, a subsidiary of Promigas and a leading energy distributor of natural gas for the Peru market.
The order represents an estimated value of USD 9 million (approx. NOK 100 million).
Promigas Peru enables customers without pipeline access to transition to lower carbon energy. The new TITAN 450 modules will complement Promigas Peru's current virtual pipeline fleet, enhancing its ability to distribute natural gas safely and economically to La Libertad, Cajamarca, Lambayeque and Ancash – all regions in Northern Peru with limited pipeline infrastructure.
“We’re excited to be selected by Promigas Peru to support the decarbonization of the industrial sector. Our Mobile Pipeline solutions have enabled the safe distribution of compressed natural gas throughout Latin America” says Nicolas Reyes, Director of Sales and Business Development Latin America at Hexagon Agility. “With deployment of our latest Mobile Pipeline innovation, Hexagon Agility and Promigas Peru are driving the transformation to cleaner and more affordable energy in Latin America.
Hexagon Agility has delivered safe, high-capacity modules into Latin America for the past ten years and has more than 300 Mobile Pipeline units in service throughout the region.
Higher capacity, lighter design, lower emissions
TITAN 450 enables the safe transport of almost half a million standard cubic feet of CNG/RNG in a 40-foot module. The new product employs the latest technology in Type 4 composite cylinders and high-strength frame design. It delivers 25% greater gas capacity than other compressed natural gas distribution modules, while being 20% lighter in the same 40-foot length. This results in fewer trips to deliver the same amount of gas, improving operational efficiency, and reducing total cost of ownership and transport emissions.
Timing
Deliveries of the modules are scheduled to start in the first half of 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Promigas
More than 48 years of connecting markets to energy sources and generating value through responsible management with the environment and committed to sustainable development. This is how we have led the natural gas revolution in Colombia and Peru. We have 23 companies dedicated to the transportation and distribution of natural gas, LNG regasification, electricity distribution, energy solutions and integrated services for the industry.
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Products offered include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas vehicle fuel systems. These products transport clean gaseous fuels and enable customers to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has","text":"30 October 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has\nreceived an inaugural order for Mobile Pipeline(®) TITAN 450 modules from\nPromigas Peru, a subsidiary of Promigas and a leading energy distributor of\nnatural gas for the Peru market.\n\nThe order represents an estimated value of USD 9 million (approx. NOK 100\nmillion).\n\nPromigas Peru enables customers without pipeline access to transition to lower\ncarbon energy. The new TITAN 450 modules will complement Promigas Peru's current\nvirtual pipeline fleet, enhancing its ability to distribute natural gas safely\nand economically to La Libertad, Cajamarca, Lambayeque and Ancash - all regions\nin Northern Peru with limited pipeline infrastructure.\n\n\"We're excited to be selected by Promigas Peru to support the decarbonization of\nthe industrial sector. Our Mobile Pipeline solutions have enabled the safe\ndistribution of compressed natural gas throughout Latin America\" says Nicolas\nReyes, Director of Sales and Business Development Latin America at Hexagon\nAgility. \"With deployment of our latest Mobile Pipeline innovation, Hexagon\nAgility and Promigas Peru are driving the transformation to cleaner and more\naffordable energy in Latin America.\n\nHexagon Agility has delivered safe, high-capacity modules into Latin America for\nthe past ten years and has more than 300 Mobile Pipeline units in service\nthroughout the region.\n\nHigher capacity, lighter design, lower emissions\n\nTITAN 450 enables the safe transport of almost half a million standard cubic\nfeet of CNG/RNG in a 40-foot module. The new product employs the latest\ntechnology in Type 4 composite cylinders and high-strength frame design. It\ndelivers 25% greater gas capacity than other compressed natural gas distribution\nmodules, while being 20% lighter in the same 40-foot length. This results in\nfewer trips to deliver the same amount of gas, improving operational efficiency,\nand reducing total cost of ownership and transport emissions.\n\nTiming\n\nDeliveries of the modules are scheduled to start in the first half of 2024.\n\nFor more information:\n\nKaren Romer, SVP Communications, Hexagon Composites ASA\nTelephone: +47 950 74 950 | karen.romer@hexagongroup.com\n(mailto:karen.romer@hexagongroup.com)\n\nIngrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com\n(mailto:ingrid.aarsnes@hexagongroup.com)\n\nAbout Promigas\n\nMore than 48 years of connecting markets to energy sources and generating value\nthrough responsible management with the environment and committed to sustainable\ndevelopment. This is how we have led the natural gas revolution in Colombia and\nPeru. We have 23 companies dedicated to the transportation and distribution of\nnatural gas, LNG regasification, electricity distribution, energy solutions and\nintegrated services for the industry.\n\nAbout Hexagon Agility\n\nHexagon Agility, a business of Hexagon Composites, is a leading global provider\nof clean fuel solutions for commercial vehicles and gas transportation\nsolutions. Products offered include (renewable) natural gas storage and\ndistribution systems, Type 4 composite natural gas cylinders, propane, and\n(renewable) natural gas vehicle fuel systems. These products transport clean\ngaseous fuels and enable customers to reduce emissions while saving operating\ncosts. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter\nand LinkedIn.\n\nAbout Hexagon Composites ASA\n\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more at\nhexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.\n"},"extensions":{},"source":"ob"},{"news_id":"5ffffd28-98ce-4b5e-939e-b8d808199737","group_id":"427d21a2-8561-4875-8ba2-3afcae446473","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-asa-invitation-to-presentation-of-q3-2023-results-5ffffd28","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Invitation to presentation of Q3 2023 results","slug":"hexagon-composites-asa-invitation-to-presentation-of-q3-2023-results-5ffffd28","publish_date":"2023-10-26T07:00:00Z","html":"
received an inaugural order for Mobile Pipeline(®) TITAN 450 modules from
Promigas Peru, a subsidiary of Promigas and a leading energy distributor of
natural gas for the Peru market.
The order represents an estimated value of USD 9 million (approx. NOK 100
million).
Promigas Peru enables customers without pipeline access to transition to lower
carbon energy. The new TITAN 450 modules will complement Promigas Peru's current
virtual pipeline fleet, enhancing its ability to distribute natural gas safely
and economically to La Libertad, Cajamarca, Lambayeque and Ancash - all regions
in Northern Peru with limited pipeline infrastructure.
"We're excited to be selected by Promigas Peru to support the decarbonization of
the industrial sector. Our Mobile Pipeline solutions have enabled the safe
distribution of compressed natural gas throughout Latin America" says Nicolas
Reyes, Director of Sales and Business Development Latin America at Hexagon
Agility. "With deployment of our latest Mobile Pipeline innovation, Hexagon
Agility and Promigas Peru are driving the transformation to cleaner and more
affordable energy in Latin America.
Hexagon Agility has delivered safe, high-capacity modules into Latin America for
the past ten years and has more than 300 Mobile Pipeline units in service
throughout the region.
Higher capacity, lighter design, lower emissions
TITAN 450 enables the safe transport of almost half a million standard cubic
feet of CNG/RNG in a 40-foot module. The new product employs the latest
technology in Type 4 composite cylinders and high-strength frame design. It
delivers 25% greater gas capacity than other compressed natural gas distribution
modules, while being 20% lighter in the same 40-foot length. This results in
fewer trips to deliver the same amount of gas, improving operational efficiency,
and reducing total cost of ownership and transport emissions.
Timing
Deliveries of the modules are scheduled to start in the first half of 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
(mailto:karen.romer@hexagongroup.com)
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
(mailto:ingrid.aarsnes@hexagongroup.com)
About Promigas
More than 48 years of connecting markets to energy sources and generating value
through responsible management with the environment and committed to sustainable
development. This is how we have led the natural gas revolution in Colombia and
Peru. We have 23 companies dedicated to the transportation and distribution of
natural gas, LNG regasification, electricity distribution, energy solutions and
integrated services for the industry.
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider
of clean fuel solutions for commercial vehicles and gas transportation
solutions. Products offered include (renewable) natural gas storage and
distribution systems, Type 4 composite natural gas cylinders, propane, and
(renewable) natural gas vehicle fuel systems. These products transport clean
gaseous fuels and enable customers to reduce emissions while saving operating
costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter
and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more at
hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
26 October 2023: Hexagon Composites ASA's third quarter results of 2023 will be released on 9 November 2023 at 07:00 am CET.
Jon Erik Engeset, CEO and David Bandele, CFO will present the results at 08:30 the same morning. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level.
If you would like to attend the presentation, please pre-register by emailing ir@hexagongroup.com, alternatively register upon arrival. The presentation will also be broadcasted live via: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20231109_4
For more information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
CENTENNIAL, CO., October 19, 2023: Hexagon Digital Wave, a business of Hexagon Composites, has entered into a strategic partnership with Compass Natural Gas, an industry leader of compressed natural gas (CNG) delivery, to perform Modal Acoustic Emission (MAE) requalification of composite Type 4 cylinders used in mobile pipeline trailers in the northeast region of the United States. This agreement expands the footprint and further strengthens the market position of Hexagon Digital Wave’s MAE services.
Driving energy transformation
Compass Natural Gas has commissioned a new site in Montoursville, Pennsylvania strategically located for easy and efficient distribution of natural gas to a large regional customer base using mobile pipeline trailers. The Department of Transportation requires mobile pipeline trailers to be requalified every fifth year.
“We are excited about this new partnership with Hexagon Digital Wave as it will provide mobile pipeline operators in the northeast region with the opportunity to utilize Hexagon’s proven MAE technology. Compass Natural Gas is committed to the safety, quality, and reliability of our mobile pipeline trailers. Partnering with Hexagon Digital Wave on this new Montoursville, PA site will allow us to meet those objectives efficiently and effectively,” says Oscar Mendez, COO, Compass Natural Gas. “Hexagon has been pivotal to the growth of Compass over the years, and we feel that our talented and experienced staff coupled with their skilled team and innovative technology will make this a successful partnership.”
“We are very pleased to strengthen our relationship with Compass Natural Gas – and to make our MAE technology more regionally accessible within North America,” says George Siedlecki, CEO, Hexagon Digital Wave. “This initiative enhances operational efficiency while alleviating major pain points for our customers. Our unique capabilities, together with Compass’ industry operating experience, make this partnership appealing to both parties.”
Timing
Teams from Hexagon Digital Wave and Compass began performing MAE requalification services on Type 4 mobile pipeline CNG fleets in Q3 2023, with services scheduled through Q4 2023. The strategic partnership agreement will automatically be renewed annually.
About the technology
MAE uses advanced electronics and sensors that capture broadband waveforms and specialty algorithms to identify structural integrity flaws present in composite pressure vessels. MAE is an authorized periodic inspection method approved by the Department of Transportation / Pipeline of Hazardous Materials Safety Administration and Transport Canada. Testing using the MAE technology eliminates venting of contents to the atmosphere thereby minimizing environmental impact.
A significant increase in customer demand for compressed gas transport is driving trailer owners to seek safe, yet time efficient, methods of cylinder requalification. Hexagon Digital Wave’s MAE technology meets these needed requirements, and when deployed alleviates pain points for owners / operators and trailer OEMs alike.
Contacts:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ryan C. Pennock, Head of Business Development
Telephone: 770 262 4719 | ryan.pennock@hexagondigitalwave.com
About Compass Natural Gas
Compass Natural Gas Partners LP is an industry leader in compressed natural gas distribution (CNG). Compass utilizes a virtual pipeline to deliver compressed natural gas (CNG) via truck across the Mid- Atlantic region in the northeast of the United States to customers not located on a pipeline. Compass Natural Gas technologies have evolved as the industry standard for best practices of compressed natural gas delivery. With the Quaker Terminal in Montoursville, PA and strategic gas supply partners in the Greater Pittsburgh region, and the Midwest, Compass provides end to end CNG solutions comprised of gas sourcing, compression via stationary or mobile compressors, gas transportation, decompression via our specialized mobile pressure reduction units, and remote 24/7 monitoring. Compass Natural Gas serves numerous customer types such as oil & gas producers, gas utilities, government facilities, greenhouses, food processors, manufacturers, aggregate producers, and vehicle fleets. Compass Natural Gas was born out of a desire to supply clean, safe, and American natural gas to customers across North America and our promise to them is rapid implementation followed by uninterrupted energy delivery.
About Hexagon Digital Wave
Hexagon Digital Wave, a subsidiary of Hexagon Composites ASA, is a leading digital solutions provider of non-destructive testing methods, which includes Ultrasonic Examination (UE) and Modal Acoustic Emission (MAE) inspection products and services. With applications in the industrial gas, fire service equipment, medical oxygen, automotive, alternative fuels, and aerospace industries, Hexagon Digital Wave’s goal is to remove technology barriers and simplify workflows with digital and automated platforms that enhance productivity and reduce total cost of ownership. Through its platforms, Hexagon Digital Wave is on the leading edge of reducing cylinder landfill waste and increasing asset availability and up-time.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
18 October 2023: National Gas and Industrial Company (Gasco), the largest Liquefied Petroleum Gas (LPG) distributor in the Kingdom of Saudi Arabia, and Hexagon Composites' subsidiary Hexagon Ragasco have signed a long-term distribution agreement. The five-year contract (2023-2028) covers the provision and distribution of custom-made LPG cylinders on the Saudi Arabian domestic market and is valued at approximately 20 million euros.
Gasco has played a significant role in the development of the composite cylinder market in Saudi Arabia, which is the largest market for domestic LPG utilization in the Middle East. Since 2015, Hexagon Ragasco has been a supplier to Gasco.
A Collaborative Strategy for Enhancing Operational Effectiveness
The new custom-sized composite cylinder by Hexagon Ragasco is specifically designed to increase Gasco’s filling and logistical operational efficiency. The broader and shorter cylinder fits seamlessly with Gasco’s filling systems and logistic equipment, making filling, storage, and transport of the cylinders more streamlined and efficient.
“We are pleased to have this agreement in place with our long-time partner, Hexagon Ragasco. Hexagon Ragasco’s collaborative approach continually adds value to our business. The new cylinder is designed specifically for our existing pallets and bottling systems, allowing us to fill and deliver modern LPG composite cylinders more cost-effectively to customers that reap the benefits of lightweight, durable composite cylinders and a lower CO2 footprint" says Eng. Abdulrahman Bin Sulaiman, CEO of Gasco.
The new cylinder will be manufactured at Hexagon Ragasco’s world-class, high-volume, fully automated production facility in Raufoss, Norway.
"This is our second long-term distribution agreement with Gasco—an alliance that has strengthened our position in the Middle East region over the last decade. As a preferred supplier, we are able to engage with Gasco’s team and help them address some of the operational challenges that face business growth in a key region for both the LPG industry and Hexagon Ragasco," says Skjalg Stavheim, President of Hexagon Ragasco. "Today’s announcement is an example of the role customer intimacy plays in driving innovation."
Timing
The first new composite LPG cylinders will be shipped and introduced to the Saudi market in 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About National Gas and Industrial Company (Gasco)
Gasco was incorporated in 1963 (1383H) via the merger of National Gas Company in Dammam and its two branches in Riyadh and Jeddah, together with Saudi manufacturing and Gas Company in Riyadh and its branches in Dammam.
Gasco's main activities are transportation, filling, distributing, and marketing of Liquefied Petroleum Gas (LPG), which consists of propane (C3H8), butane (C4H10), or a mixture of both. Gasco has generated revenues of more than SAR 2 billion in 2022.
About Hexagon Ragasco AS
At Hexagon Ragasco, we are committed to quality, safety, and innovation. We are the leading manufacturer of composite LPG cylinders, with an industry-leading safety record of 20+ years and more than 20 million cylinders sold worldwide. Our products bring unique benefits to both LPG marketers and their customers.
LPG has a significant role to play as a transitional energy source with the potential to improve air quality and health for billions of people who rely on highly polluting and toxic fuels as their primary energy source. We believe in cleaner air and safer LPG for everyone, everywhere.
Learn more at www.hexagonragasco.com and follow @Hexagon_Ragasco on Twitter and LinkedIn.
About Hexagon Composites
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications.
Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Ingrid Aarsnes, VP IR & ESG, Hexagon Composites ASA on 18 October 2023 at 18:45 CEST.
28 September 2023: Reference is made to the stock exchange notice published on","text":"28 September 2023: Reference is made to the stock exchange notice published on\n27 September 2023 regarding a potential sale of existing shares in Hexagon\nComposites ASA (the \"Company\") by Flakk Composites AS and Flakk Gruppen AS (the\n\"Sellers\") through a private placement (the \"Placing\").\n\nThe Sellers have today sold 5,300,000 shares in the Company through the Placing\n(representing approximately 2.63% of the share capital and votes in the Company)\nat a price of NOK 28 per share.\n\nFollowing completion of the Placing, Flakk Composites AS holds 15,213,217 shares\nin the Company, representing approximately 7.55% of the share capital and votes\nin the Company, and Flakk Gruppen AS holds 1,690,504 share in the Company,\nrepresenting approximately 0.84% of the share capital and votes in the Company.\nFlakk Composites AS and Flakk Gruppen AS are partially owned and controlled by\nKnut Flakk, founder and Chairman of the Board in the Company.\n\nKnut Flakk and related parties hold an additional 5,631,248 shares in the\nCompany, representing approximately 2.79% of the number of the share capital and\nvotes in the Company.\n\nThe Sellers have entered into a 3-month customary lock-up with the Manager (as\ndefined below) on the remaining shares in the Company held by the Sellers after\nthe Placing.\n\nDNB Markets, a part of DNB Bank ASA acted as Sole Bookrunner in connection with\nthe Placing (the \"Manager\"). \n\nPlease see attached notification forms for further details.\n\nThis disclosure is made pursuant to article 19 of the Market Abuse Regulation\nand section 5-12 of the Norwegian Securities Trading Act\n"},"extensions":{},"source":"ob"},{"news_id":"d67d5a34-669c-54a3-a58f-cad97e2e9625","group_id":"3c7adf4e-e7d8-4d2d-9174-02dd39fc0887","url":"https://mfn.se/ob/a/hexagon-composites/hex-contemplated-block-sale-of-existing-shares-in-hexagon-composites-asa-hex-d67d5a34","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"HEX: Contemplated block sale of existing shares in Hexagon Composites ASA (HEX)","slug":"hex-contemplated-block-sale-of-existing-shares-in-hexagon-composites-asa-hex-d67d5a34","publish_date":"2023-09-27T14:30:23Z","html":"
27 September 2023 regarding a potential sale of existing shares in Hexagon
Composites ASA (the "Company") by Flakk Composites AS and Flakk Gruppen AS (the
"Sellers") through a private placement (the "Placing").
The Sellers have today sold 5,300,000 shares in the Company through the Placing
(representing approximately 2.63% of the share capital and votes in the Company)
at a price of NOK 28 per share.
Following completion of the Placing, Flakk Composites AS holds 15,213,217 shares
in the Company, representing approximately 7.55% of the share capital and votes
in the Company, and Flakk Gruppen AS holds 1,690,504 share in the Company,
representing approximately 0.84% of the share capital and votes in the Company.
Flakk Composites AS and Flakk Gruppen AS are partially owned and controlled by
Knut Flakk, founder and Chairman of the Board in the Company.
Knut Flakk and related parties hold an additional 5,631,248 shares in the
Company, representing approximately 2.79% of the number of the share capital and
votes in the Company.
The Sellers have entered into a 3-month customary lock-up with the Manager (as
defined below) on the remaining shares in the Company held by the Sellers after
the Placing.
DNB Markets, a part of DNB Bank ASA acted as Sole Bookrunner in connection with
the Placing (the "Manager").
Please see attached notification forms for further details.
This disclosure is made pursuant to article 19 of the Market Abuse Regulation
and section 5-12 of the Norwegian Securities Trading Act
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO","text":"NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO\nTHE UNITED STATES, CANADA, AUSTRALIA, JAPAN, HONG KONG, SOUTH AFRICA OR IN ANY\nJURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE\nUNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE\nSECURITIES DESCRIBED HEREIN.\n\nFlakk Composites AS and Flakk Gruppen AS (together the \"Sellers\"), have retained\nDNB Markets, a part of DNB Bank ASA as Sole Bookrunner (the \"Manager\") to\nexplore a potential block sale of existing shares in Hexagon Composites ASA (the\n\"Company\") through a private placement (the \"Offering\"). \n\nThe Sellers are contemplating selling up to approximately 5,000,000 shares in\nthe Company (up to 4,486,783 shares sold by Flakk Composites AS and up to\n513,217 shares sold by Flakk Gruppen AS), equivalent to approximately 2.48% of\nthe Company's outstanding shares. The price in the Offering will be set through\nan accelerated bookbuilding process and will be denominated in NOK. The Sellers\nreserve the right, at their sole discretion, to decide the number of shares to\nbe sold, or to sell no shares at all in the Offering. \n\nThe bookbuilding period in the Offering will commence today, 27 September 2023\nat 16:30 CEST and will close on 28 September 2023 at 08:00 CEST. The Sellers, in\nconsultation with the Manager, reserve the right to close the bookbuilding\nperiod at any time at their sole discretion, at short notice. The Offering is\nexpected to be priced and allocated before 08:00 CEST on 28 September 2023 (T).\nThe settlement in the Offering will be conducted on a normal\ndelivery-versus-payment basis (DVP, T+2).\n\nFlakk Composites AS currently owns 20,000,000 shares in the Company,\nrepresenting approximately 9.92% of the number of outstanding shares in the\nCompany, and will following the Transaction hold 15,513,217 shares assuming all\nshares are sold as part of the Transaction, representing 7.69% of the number of\nshares outstanding in the Company. Flakk Composites AS is partially owned and\ncontrolled by Knut Flakk, founder and Chairman of the Board in the Company.\n\nFlakk Gruppen AS currently owns 2,203,721 shares in the Company, representing\napproximately 1.09% of the number of outstanding shares in the Company, and will\nfollowing the Transaction hold 1,690,504 shares assuming all shares are sold as\npart of the Transaction, representing 0.84% of the number of shares outstanding\nin the Company. Flakk Composites partially owned and controlled by Knut Flakk,\nfounder and Chairman of the Board in the Company.\n\nKnut Flakk and related parties hold an additional 5,631,248 shares in the\nCompany, representing approximately 2.79% of the number of shares outstanding in\nthe Company. \n\nThe minimum order and allocation in the Offering have been set to the NOK\nequivalent of EUR 100,000. The Manager may, however, offer and allocate an\namount below the NOK equivalent of EUR 100,000 in the Offering to the extent\nexemptions from prospectus requirements, in accordance with Regulation (EU)\n2017/1129, are available.\n\nFor more information about the Offering please contact the Manager:\n\nDNB Markets, a part of DNB Bank ASA: \n+47 24 16 90 20\n\nThis information is considered to include inside information pursuant to the EU\nMarket Abuse Regulation article 7 and is subject to the disclosure requirements\npursuant to section 5-12 of the Norwegian Securities Trading Act. \n\nImportant Notices:\nThis announcement is not and does not form a part of any offer to sell, or a\nsolicitation of an offer to purchase, any securities of the Company. The\ndistribution of this announcement and other information may be restricted by law\nin certain jurisdictions. Copies of this announcement are not being made and may\nnot be distributed or sent into any jurisdiction in which such distribution\nwould be unlawful or would require registration or other measures. Persons into\nwhose possession this announcement or such other information should come are\nrequired to inform themselves about and to observe any such restrictions. \n\nThe securities referred to in this announcement have not been and will not be\nregistered under the U.S. Securities Act of 1933, as amended (the \"Securities\nAct\"), and accordingly may not be offered or sold in the United States absent\nregistration or an applicable exemption from the registration requirements of\nthe Securities Act and in accordance with applicable U.S. state securities laws.\nThe Company does not intend to register any part of the offering or its\nsecurities in the United States or to conduct a public offering of securities in\nthe United States. \n\nIn any EEA Member State, this communication is only addressed to and is only\ndirected at qualified investors in that Member State within the meaning of the\nProspectus Regulation, i.e., only to investors who can receive the offer without\nan approved prospectus in such EEA Member State. The expression \"Prospectus\nRegulation\" means Regulation (EU) 2017/1129 as amended together with any\napplicable implementing measures in any Member State. \n\nThis communication is only being distributed to and is only directed at persons\nin the United Kingdom that are \"qualified investors\" within the meaning of the\nProspectus Regulation as it forms part of English law by virtue of the European\nUnion (Withdrawal) Act 2018 and that are (i) investment professionals falling\nwithin Article 19(5) of the Financial Services and Markets Act 2000 (Financial\nPromotion) Order 2005, as amended (the \"Order\") or (ii) high net worth entities,\nand other persons to whom this announcement may lawfully be communicated,\nfalling within Article 49(2)(a) to (d) of the Order (all such persons together\nbeing referred to as \"relevant persons\"). This communication must not be acted\non or relied on by persons who are not relevant persons. Any investment or\ninvestment activity to which this communication relates is available only for\nrelevant persons and will be engaged in only with relevant persons. Persons\ndistributing this communication must satisfy themselves that it is lawful to do\nso. \n\nMatters discussed in this announcement may constitute forward-looking\nstatements. Forward-looking statements are statements that are not historical\nfacts and may be identified by words such as \"believe\", \"expect\", \"anticipate\",\n\"strategy\", \"intends\", \"estimate\", \"will\", \"may\", \"continue\", \"should\" and\nsimilar expressions. The forward-looking statements in this release are based\nupon various assumptions, many of which are based, in turn, upon further\nassumptions. Although the Sellers believe that these assumptions were reasonable\nwhen made, these assumptions are inherently subject to significant known and\nunknown risks, uncertainties, contingencies and other important factors which\nare difficult or impossible to predict and are beyond their control. \nBy their nature, forward-looking statements are subject to numerous factors,\nrisks and uncertainties that could cause actual outcomes and results to be\nmaterially different from those projected. Readers are cautioned not to place\nundue reliance on these forward-looking statements. Except for any ongoing\nobligation to disclose material information as required by the applicable law,\nthe Sellers do not have any intention or obligation to publicly update or revise\nany forward-looking statements after they distributes this announcement, whether\nto reflect any future events or circumstances or otherwise.\n\nIn connection with the sale of the shares, the Manager and any of their\naffiliates may take up a portion of the shares in the Offering as a principal\nposition and in that capacity may retain, purchase, sell, offer to sell for\ntheir own accounts such shares and other securities of the Company or related\ninvestments in connection with the Offering or otherwise. Accordingly,\nreferences in this announcement to the shares being sold, offered, subscribed,\nacquired, placed or otherwise dealt in should be read as including any issue or\noffer to, or subscription, acquisition, placing or dealing by, the Manager and\nany of their affiliates acting in such capacity. In addition the Manager and\nany of their affiliates may enter into financing arrangements (including swaps\nor contracts for differences) with investors in connection with which the\nManager and its affiliates may from time to time acquire, hold or dispose of\nShares. The Managers do not intend to disclose the extent of any such investment\nor transactions otherwise than in accordance with any legal or regulatory\nobligations to do so.\n\nA communication that a transaction is or that the book is \"covered\" (i.e.\nindicated demand from investors in the book equals or exceeds the amount of the\nsecurities being offered) is not any indication or assurance that the book will\nremain covered or that the transaction and securities will be fully distributed\nby Manager. The Manager reserves the right to take up a portion of the\nsecurities in the offering as a principal position at any stage at their sole\ndiscretion, inter alia, to take account of the objectives of the seller, MiFID\nII requirements and in accordance with allocation policies.\n\nNeither the Manager nor any of its or its affiliates' directors, officers,\nemployees, advisers or agents accepts any responsibility or liability whatsoever\nfor or makes any representation or warranty, express or implied, as to the\ntruth, accuracy or completeness of the information in this announcement (or\nwhether any information has been omitted from the announcement) or any other\ninformation relating to the Sellers, the Company, their respective subsidiaries\nor associated companies, whether written, oral or in a visual or electronic\nform, and howsoever transmitted or made available or for any loss howsoever\narising from any use of this announcement or its contents or otherwise arising\nin connection therewith.\n\nThe Manager is acting on behalf of the Sellers and no one else in connection\nwith any offering of the Shares and will not be responsible to any other person\nfor providing the protections afforded to any of its clients or for providing\nadvice in relation to any offering of the shares.\n\nThis announcement is for information purposes only and is not to be relied upon\nin substitution for the exercise of independent judgment. It is not intended as\ninvestment advice and under no circumstances is it to be used or considered as\nan offer to sell, or a solicitation of an offer to buy any securities or a\nrecommendation to buy or sell any securities in the Company. Neither the\nManagers nor any of their respective affiliates accepts any liability arising\nfrom the use of this announcement.\n"},"extensions":{},"source":"ob"},{"news_id":"886ffa81-d3cd-484b-974c-32d3385290f9","group_id":"0c356c4e-e16e-4ec6-98b0-5a274ed79de4","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-initiates-strategic-review-of-its-lpg-cylinder-business-886ffa81","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites initiates strategic review of its LPG cylinder business","slug":"hexagon-composites-initiates-strategic-review-of-its-lpg-cylinder-business-886ffa81","publish_date":"2023-09-26T06:00:00Z","html":"
THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, HONG KONG, SOUTH AFRICA OR IN ANY
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.
Flakk Composites AS and Flakk Gruppen AS (together the "Sellers"), have retained
DNB Markets, a part of DNB Bank ASA as Sole Bookrunner (the "Manager") to
explore a potential block sale of existing shares in Hexagon Composites ASA (the
"Company") through a private placement (the "Offering").
The Sellers are contemplating selling up to approximately 5,000,000 shares in
the Company (up to 4,486,783 shares sold by Flakk Composites AS and up to
513,217 shares sold by Flakk Gruppen AS), equivalent to approximately 2.48% of
the Company's outstanding shares. The price in the Offering will be set through
an accelerated bookbuilding process and will be denominated in NOK. The Sellers
reserve the right, at their sole discretion, to decide the number of shares to
be sold, or to sell no shares at all in the Offering.
The bookbuilding period in the Offering will commence today, 27 September 2023
at 16:30 CEST and will close on 28 September 2023 at 08:00 CEST. The Sellers, in
consultation with the Manager, reserve the right to close the bookbuilding
period at any time at their sole discretion, at short notice. The Offering is
expected to be priced and allocated before 08:00 CEST on 28 September 2023 (T).
The settlement in the Offering will be conducted on a normal
delivery-versus-payment basis (DVP, T+2).
Flakk Composites AS currently owns 20,000,000 shares in the Company,
representing approximately 9.92% of the number of outstanding shares in the
Company, and will following the Transaction hold 15,513,217 shares assuming all
shares are sold as part of the Transaction, representing 7.69% of the number of
shares outstanding in the Company. Flakk Composites AS is partially owned and
controlled by Knut Flakk, founder and Chairman of the Board in the Company.
Flakk Gruppen AS currently owns 2,203,721 shares in the Company, representing
approximately 1.09% of the number of outstanding shares in the Company, and will
following the Transaction hold 1,690,504 shares assuming all shares are sold as
part of the Transaction, representing 0.84% of the number of shares outstanding
in the Company. Flakk Composites partially owned and controlled by Knut Flakk,
founder and Chairman of the Board in the Company.
Knut Flakk and related parties hold an additional 5,631,248 shares in the
Company, representing approximately 2.79% of the number of shares outstanding in
the Company.
The minimum order and allocation in the Offering have been set to the NOK
equivalent of EUR 100,000. The Manager may, however, offer and allocate an
amount below the NOK equivalent of EUR 100,000 in the Offering to the extent
exemptions from prospectus requirements, in accordance with Regulation (EU)
2017/1129, are available.
For more information about the Offering please contact the Manager:
DNB Markets, a part of DNB Bank ASA:
+47 24 16 90 20
This information is considered to include inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act.
Important Notices:
This announcement is not and does not form a part of any offer to sell, or a
solicitation of an offer to purchase, any securities of the Company. The
distribution of this announcement and other information may be restricted by law
in certain jurisdictions. Copies of this announcement are not being made and may
not be distributed or sent into any jurisdiction in which such distribution
would be unlawful or would require registration or other measures. Persons into
whose possession this announcement or such other information should come are
required to inform themselves about and to observe any such restrictions.
The securities referred to in this announcement have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and accordingly may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act and in accordance with applicable U.S. state securities laws.
The Company does not intend to register any part of the offering or its
securities in the United States or to conduct a public offering of securities in
the United States.
In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors who can receive the offer without
an approved prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 as amended together with any
applicable implementing measures in any Member State.
This communication is only being distributed to and is only directed at persons
in the United Kingdom that are "qualified investors" within the meaning of the
Prospectus Regulation as it forms part of English law by virtue of the European
Union (Withdrawal) Act 2018 and that are (i) investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (ii) high net worth entities,
and other persons to whom this announcement may lawfully be communicated,
falling within Article 49(2)(a) to (d) of the Order (all such persons together
being referred to as "relevant persons"). This communication must not be acted
on or relied on by persons who are not relevant persons. Any investment or
investment activity to which this communication relates is available only for
relevant persons and will be engaged in only with relevant persons. Persons
distributing this communication must satisfy themselves that it is lawful to do
so.
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Sellers believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict and are beyond their control.
By their nature, forward-looking statements are subject to numerous factors,
risks and uncertainties that could cause actual outcomes and results to be
materially different from those projected. Readers are cautioned not to place
undue reliance on these forward-looking statements. Except for any ongoing
obligation to disclose material information as required by the applicable law,
the Sellers do not have any intention or obligation to publicly update or revise
any forward-looking statements after they distributes this announcement, whether
to reflect any future events or circumstances or otherwise.
In connection with the sale of the shares, the Manager and any of their
affiliates may take up a portion of the shares in the Offering as a principal
position and in that capacity may retain, purchase, sell, offer to sell for
their own accounts such shares and other securities of the Company or related
investments in connection with the Offering or otherwise. Accordingly,
references in this announcement to the shares being sold, offered, subscribed,
acquired, placed or otherwise dealt in should be read as including any issue or
offer to, or subscription, acquisition, placing or dealing by, the Manager and
any of their affiliates acting in such capacity. In addition the Manager and
any of their affiliates may enter into financing arrangements (including swaps
or contracts for differences) with investors in connection with which the
Manager and its affiliates may from time to time acquire, hold or dispose of
Shares. The Managers do not intend to disclose the extent of any such investment
or transactions otherwise than in accordance with any legal or regulatory
obligations to do so.
A communication that a transaction is or that the book is "covered" (i.e.
indicated demand from investors in the book equals or exceeds the amount of the
securities being offered) is not any indication or assurance that the book will
remain covered or that the transaction and securities will be fully distributed
by Manager. The Manager reserves the right to take up a portion of the
securities in the offering as a principal position at any stage at their sole
discretion, inter alia, to take account of the objectives of the seller, MiFID
II requirements and in accordance with allocation policies.
Neither the Manager nor any of its or its affiliates' directors, officers,
employees, advisers or agents accepts any responsibility or liability whatsoever
for or makes any representation or warranty, express or implied, as to the
truth, accuracy or completeness of the information in this announcement (or
whether any information has been omitted from the announcement) or any other
information relating to the Sellers, the Company, their respective subsidiaries
or associated companies, whether written, oral or in a visual or electronic
form, and howsoever transmitted or made available or for any loss howsoever
arising from any use of this announcement or its contents or otherwise arising
in connection therewith.
The Manager is acting on behalf of the Sellers and no one else in connection
with any offering of the Shares and will not be responsible to any other person
for providing the protections afforded to any of its clients or for providing
advice in relation to any offering of the shares.
This announcement is for information purposes only and is not to be relied upon
in substitution for the exercise of independent judgment. It is not intended as
investment advice and under no circumstances is it to be used or considered as
an offer to sell, or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities in the Company. Neither the
Managers nor any of their respective affiliates accepts any liability arising
from the use of this announcement.
26 September 2023: Hexagon Composites’ (OSE: HEX.OL) wholly owned subsidiary, Hexagon Ragasco (the “Company”) is the global market leader in composite cylinders for liquid petroleum gas (LPG) with more than 22 million cylinders sold to over 100 countries worldwide. Its portfolio of products, used for leisure, household, and industrial applications, are manufactured in its highly automated production facility in Norway. Today, Hexagon Composites announces a strategic review of the Company.
Hexagon Ragasco is currently developing the next generation composite LPG cylinder concept; a sensor-based digital ecosystem with the potential to improve data insights to drive down costs across the value chain and unlock new business opportunities for LPG distributors. An initial pilot is being carried out together with the leading LPG distributor in Norway.
The Company is also eyeing substantial growth opportunities outside its core market in Europe. This includes developing markets where LPG is expected to be a critical part of the energy transition, improving air quality and health for billions of people who today rely on highly pollutant and toxic fuels.
“Hexagon Ragasco has an exciting pipeline of growth opportunities which may be realized through, inter alia, structural strategic moves. We will carefully evaluate whether the Company’s growth potential can best be realized inside or outside the Hexagon Group,” says Jon Erik Engeset, CEO, Hexagon Group. “We take tremendous pride in the position Hexagon Ragasco has developed to date and we intend to secure the Company the best possible conditions for continued success.”
DNB Markets and Danske Bank Norwegian Branch have been retained as financial advisors.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Ragasco AS
Hexagon Ragasco is committed to quality, safety, and innovation. We are the leading manufacturer of composite LPG cylinders with an industry-leading safety record of 20+ years and more than 20 million cylinders sold worldwide. Its products bring unique benefits to both LPG marketers and their customers.
Learn more at www.hexagonragasco.com and follow @Hexagon_Ragasco on Twitter and LinkedIn.
About Hexagon Composites
Hexagon Composites (OSE: HEX.OL) is a world leader in composite cylinder technology and related systems, delivering safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications.
Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Ingrid Aarsnes, VP IR & ESG, Hexagon Composites ASA on 26 September 2023 at 08:00 am CEST.
14 September 2023: With reference to the share buyback program announced 18 August 2023, Hexagon Composites ASA ("the Company") has from 7 to 14 September 2023 purchased 476,880 of its own shares. The shares were purchased at an average price of NOK 37.3105 per share. An overview of daily share purchases, as well as a detailed overview of all transactions made under the share buyback program is attached.
Date on which the buyback program was announced: 18 August 2023
The duration of the buyback program: 18 August 2023 until 31 October 2023
Size of the buyback program: Up to NOK 50 million
Following the transactions, the Company owns 1,379,853 of its own shares, which represents 0.68% of the total shares outstanding.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
\n\n14 September 2023: With reference to the share buyback program announced 18","text":"14 September 2023: With reference to the share buyback program announced 18\nAugust 2023, Hexagon Composites ASA (\"the Company\") has from 7 to 14 September\n2023 purchased 476,880 of its own shares. The shares were purchased at an\naverage price of NOK 37.3105 per share. An overview of daily share purchases, as\nwell as a detailed overview of all transactions made under the share buyback\nprogram is attached.\n\nDate on which the buyback program was announced: 18 August 2023\n\nThe duration of the buyback program: 18 August 2023 until 31 October 2023\n\nSize of the buyback program: Up to NOK 50 million\n\nFollowing the transactions, the Company owns 1,379,853 of its own shares, which\nrepresents 0.68% of the total shares outstanding.\n\nFor additional information:\nIngrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com\n\nAbout Hexagon Composites ASA\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation, and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more\nat www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.\n\nThis information is made public by Hexagon Composites pursuant to the EU Market\nAbuse Regulation and subject to the disclosure requirements pursuant to Section\n5-12 of the Norwegian Securities Trading Act.\n"},"extensions":{},"source":"ob"},{"news_id":"da90b5eb-641e-41dc-9f75-65e394fbe69f","group_id":"11bf7af5-0a89-45ad-b504-e159fcae47f3","url":"https://mfn.se/one/a/hexagon-composites/hexagon-digital-waves-proprietary-modal-acoustic-emission-technology-approved-for-use-in-canada-da90b5eb","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Digital Wave’s proprietary Modal Acoustic Emission technology approved for use in Canada","slug":"hexagon-digital-waves-proprietary-modal-acoustic-emission-technology-approved-for-use-in-canada-da90b5eb","publish_date":"2023-09-11T17:00:00Z","html":"
August 2023, Hexagon Composites ASA ("the Company") has from 7 to 14 September
2023 purchased 476,880 of its own shares. The shares were purchased at an
average price of NOK 37.3105 per share. An overview of daily share purchases, as
well as a detailed overview of all transactions made under the share buyback
program is attached.
Date on which the buyback program was announced: 18 August 2023
The duration of the buyback program: 18 August 2023 until 31 October 2023
Size of the buyback program: Up to NOK 50 million
Following the transactions, the Company owns 1,379,853 of its own shares, which
represents 0.68% of the total shares outstanding.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation, and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more
at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU Market
Abuse Regulation and subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
CENTENNIAL, CO., September 11, 2023 - Hexagon Digital Wave, a business of Hexagon Composites, has received an equivalency certificate from Transport Canada (TC) authorizing the use of its Modal Acoustic Emission (MAE) technology to requalify composite overwrapped pressure vessels (COPV) used in virtual pipeline trailers manufactured by Quantum Fuel Systems which are subject to periodic inspection and testing once every five years.
This equivalency certificate opens a new market for Hexagon Digital Wave’s MAE technology in Canada and further positions the company as the leader in the North American requalification market.
Driving energy transformation
“Hexagon Digital Wave’s MAE technology provides a faster, and more accurate means of assessing structural integrity in cylinders used to transport compressed gases. We are excited to offer the benefits of our superior technology to Canadian customers that enables safe and efficient operations,” says George Siedlecki, CEO, Hexagon Digital Wave.
With the issuance of this TC-SH 13911 equivalency certification, Transport Canada becomes the second regulatory agency authority with high pressure compressed gas cylinder oversight to acknowledge and approve the benefits and safety provided by MAE testing.
About the technology
MAE uses advanced electronics and sensors that capture broadband waveforms and specialty algorithms to identify structural integrity flaws present in composite pressure vessels. MAE is an authorized periodic inspection method for the Department of Transportation / Pipeline of Hazardous Materials Safety Administration and Transport Canada jurisdictions. Testing using the MAE technology eliminates venting of contents to the atmosphere thereby minimizing environmental impact.
A significant increase in customer demand for compressed gas transport is driving trailer owners to seek safe, yet time efficient, methods of cylinder requalification. Hexagon Digital Wave’s MAE technology meets these needed requirements, and when deployed alleviates pain points for owners / operators and trailer OEMs alike.
Contacts:
Karen Romer, SVP Communications, Hexagon Composites
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ryan C. Pennock, Head of Business Development
Telephone: 770 262 4719 | ryan.pennock@hexagondigitalwave.com
About Hexagon Digital Wave
Hexagon Digital Wave, a subsidiary of Hexagon Composites ASA, is a leading digital solutions provider of non-destructive testing methods, which includes Ultrasonic Examination (UE) and Modal Acoustic Emission (MAE) inspection products and services. With applications in the industrial gas, fire service equipment, medical oxygen, automotive, alternative fuels, and aerospace industries, Hexagon Digital Wave’s goal is to remove technology barriers and simplify workflows with digital and automated platforms that enhance productivity and reduce total cost of ownership. Through its platforms, Hexagon Digital Wave is on the leading edge of reducing cylinder landfill waste and increasing asset availability and up-time.
Learn more at www.hexagondigitalwave.com and follow @HexagonDigitalWave on LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications.
Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
6 September 2023: With reference to the share buyback program announced 18 August 2023, Hexagon Composites ASA ("the Company") has from 29 August to 6 September 2023 purchased 501,398 of its own shares. The shares were purchased at an average price of NOK 37.6778 per share. An overview of daily share purchases, as well as a detailed overview of all transactions made under the share buyback program is attached.
Date on which the buyback program was announced: 18 August 2023
The duration of the buyback program: 18 August 2023 until 31 October 2023
Size of the buyback program: Up to NOK 50 million
Following the transactions, the Company owns 902,973 of its own shares, which represents 0.45% of the total shares outstanding.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
\n\n6 September 2023: With reference to the share buyback program announced 18","text":"6 September 2023: With reference to the share buyback program announced 18\nAugust 2023, Hexagon Composites ASA (\"the Company\") has from 29 August to 6\nSeptember 2023 purchased 501,398 of its own shares. The shares were purchased at\nan average price of NOK 37.6778 per share. An overview of daily share purchases,\nas well as a detailed overview of all transactions made under the share buyback\nprogram is attached.\n\nDate on which the buyback program was announced: 18 August 2023\n\nThe duration of the buyback program: 18 August 2023 until 31 October 2023\n\nSize of the buyback program: Up to NOK 50 million\n\nFollowing the transactions, the Company owns 902,973 of its own shares, which\nrepresents 0.45% of the total shares outstanding.\n\nFor additional information:\nIngrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com\n\nAbout Hexagon Composites ASA\nHexagon delivers safe and innovative solutions for a cleaner energy future. Our\nsolutions enable storage, transportation, and conversion to clean energy in a\nwide range of mobility, industrial and consumer applications. Learn more\nat www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.\n\nThis information is made public by Hexagon Composites pursuant to the EU Market\nAbuse Regulation and subject to the disclosure requirements pursuant to Section\n5-12 of the Norwegian Securities Trading Act.\n"},"extensions":{},"source":"ob"},{"news_id":"7428d5c5-47d3-4ac8-b80e-9b612b87f8ab","group_id":"101bd066-e523-49f1-b0b8-00567dd253c6","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-asa-share-buyback-program-status-7428d5c5","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory","sub:ca","sub:ca:ma"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Share buyback program status","slug":"hexagon-composites-asa-share-buyback-program-status-7428d5c5","publish_date":"2023-08-28T17:44:59Z","html":"
August 2023, Hexagon Composites ASA ("the Company") has from 29 August to 6
September 2023 purchased 501,398 of its own shares. The shares were purchased at
an average price of NOK 37.6778 per share. An overview of daily share purchases,
as well as a detailed overview of all transactions made under the share buyback
program is attached.
Date on which the buyback program was announced: 18 August 2023
The duration of the buyback program: 18 August 2023 until 31 October 2023
Size of the buyback program: Up to NOK 50 million
Following the transactions, the Company owns 902,973 of its own shares, which
represents 0.45% of the total shares outstanding.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation, and conversion to clean energy in a
wide range of mobility, industrial and consumer applications. Learn more
at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU Market
Abuse Regulation and subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act.
28 August 2023: With reference to the share buyback program announced 18 August 2023, Hexagon Composites ASA ("the Company") has purchased 392,102 of its own shares. The shares were purchased at an average price of NOK 33.88 per share. An overview of daily share purchases, as well as a detailed overview of all transactions made under the share buyback program is attached.
Date on which the buyback program was announced: 18 August 2023
The duration of the buyback program: 18 August 2023 until 31 October 2023
Size of the buyback program: Up to NOK 50 million
Following the transactions, the Company owns 401,575 of its own shares, which represents 0.2% of the total shares outstanding.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
\n\n
28 August 2023: With reference to the share buyback program announced 18 August","text":"28 August 2023: With reference to the share buyback program announced 18 August\n2023, Hexagon Composites ASA (\"the Company\") has purchased 392,102 of its own\nshares. The shares were purchased at an average price of NOK 33.88 per share. An\noverview of daily share purchases, as well as a detailed overview of all\ntransactions made under the share buyback program is attached.\n\nDate on which the buyback program was announced: 18 August 2023\n\nThe duration of the buyback program: 18 August 2023 until 31 October 2023\n\nSize of the buyback program: Up to NOK 50 million\n\nFollowing the transactions, the Company owns 401,575 of its own shares, which\nrepresents 0.2% of the total shares outstanding.\n\nFor additional information:\nIngrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA\nTelephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com\n\nAbout Hexagon Composites ASA\nHexagon delivers safe and innovative solutions for a cleaner energy future.\nOur solutions enable storage, transportation, and conversion to clean energy in\na wide range of mobility, industrial and consumer applications. Learn\nmore at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.\n\nThis information is made public by Hexagon Composites pursuant to the EU\nMarket Abuse Regulation and subject to the disclosure requirements pursuant to\nSection 5-12 of the Norwegian Securities Trading Act.\n"},"extensions":{},"source":"ob"},{"news_id":"8f0db5f8-c378-43e9-aa2f-c2348dc8bb9a","group_id":"85cc731f-18b5-45a4-ad97-493a8a5f63e2","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-asa-initiation-of-share-buyback-program-to-fulfil-incentive-programs-obligations-8f0db5f8","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Initiation of share buyback program to fulfil incentive programs obligations","slug":"hexagon-composites-asa-initiation-of-share-buyback-program-to-fulfil-incentive-programs-obligations-8f0db5f8","publish_date":"2023-08-18T06:00:00Z","html":"
2023, Hexagon Composites ASA ("the Company") has purchased 392,102 of its own
shares. The shares were purchased at an average price of NOK 33.88 per share. An
overview of daily share purchases, as well as a detailed overview of all
transactions made under the share buyback program is attached.
Date on which the buyback program was announced: 18 August 2023
The duration of the buyback program: 18 August 2023 until 31 October 2023
Size of the buyback program: Up to NOK 50 million
Following the transactions, the Company owns 401,575 of its own shares, which
represents 0.2% of the total shares outstanding.
For additional information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future.
Our solutions enable storage, transportation, and conversion to clean energy in
a wide range of mobility, industrial and consumer applications. Learn
more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU
Market Abuse Regulation and subject to the disclosure requirements pursuant to
Section 5-12 of the Norwegian Securities Trading Act.
18 August 2023: Hexagon Composite ASA has decided to initiate a buyback of up to 2,000,000 of its own shares for an amount up to NOK 50 million. The buyback program may be carried out in the period from this announcement and until 31 October 2023. The[DB1] purpose of the program is to fulfil the Company's obligations under its incentive programs.
Hexagon Composites has engaged a third party to carry out the share buybacks in the market. The third party will make its trading decisions independently of, and uninfluenced by the Company. The share buybacks will be made in accordance with the authorization granted to the Board of Directors by the Company's Annual General Meeting held on 26 April 2023.
Transactions will be conducted in accordance with the Market Abuse Regulation (EU) No 596/2014 ("MAR") and Commission Delegated Regulation (EU) No 2016/1052 ("Safe Harbour Regulation").
Hexagon Composites holds 9,473 own shares as of the date of this announcement.
For more information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is made public by Hexagon Composites pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
@Ingrid Aarsnes - can we put a future date that already goes into MAR 30 day/ 14 day (Q1/Q3) close period? [DB1]
18 August 2023: Reference is made to the announcement on 29 July 2020, in which Hexagon Composites ASA (the "Company") announced the provisional award of Restricted Share Units ("RSUs") under a Long-Term Incentive Program (LTIP) to align the interests of the participating employees with those of the Company's shareholders. Each vested RSU give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10.
The total program ended at 85,058 RSUs. The transaction is settled in treasury shares, and following the transaction, the Company holds 9,473 treasury shares.
For more information:
Ingrid Aarsnes, VP IR & ESG, Hexagon Composites Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com (http://www.hexagongroup.com) and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
18 August 2023: Reference is made to the announcement on 29 July 2020, in which","text":"18 August 2023: Reference is made to the announcement on 29 July 2020, in which\nHexagon Composites ASA (the \"Company\") announced the provisional award of\nRestricted Share Units (\"RSUs\") under a Long-Term Incentive Program (LTIP) to\nalign the interests of the participating employees with those of the Company's\nshareholders. Each vested RSU give the holder the right to receive one share in\nthe Company at an exercise price corresponding to the par value of the shares\nbeing NOK 0.10.\n\nThe total program ended at 85,058 RSUs. The transaction is settled in treasury\nshares, and following the transaction, the Company holds 9,473 treasury shares.\n\nFor more information:\nIngrid Aarsnes, VP IR & ESG, Hexagon Composites Telephone: +47 950 38 364 |\ningrid.aarsnes@hexagongroup.com (mailto:ingrid.aarsnes@hexagongroup.com)\n\nAbout Hexagon Composites ASA Hexagon delivers safe and innovative solutions for\na cleaner energy future. Our solutions enable storage, transportation, and\nconversion to clean energy in a wide range of mobility, industrial and consumer\napplications. Learn more at www.hexagongroup.com (http://www.hexagongroup.com)\nand follow @HexagonASA on Twitter and LinkedIn.\n\nThis information is subject to the disclosure requirements pursuant to Section\n5-12 the Norwegian Securities Trading Act\n"},"extensions":{},"source":"ob"},{"news_id":"fe5e4e81-a5f8-40a9-be83-c241c2120e1c","group_id":"27cd9367-ddc4-447f-9342-abc3de6460e7","url":"https://mfn.se/one/a/hexagon-composites/hexagon-composites-asa-second-quarter-2023-fe5e4e81","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory","sub:report","sub:report:interim"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Composites ASA: Second quarter 2023","slug":"hexagon-composites-asa-second-quarter-2023-fe5e4e81","publish_date":"2023-08-17T05:00:00Z","html":"
Hexagon Composites ASA (the "Company") announced the provisional award of
Restricted Share Units ("RSUs") under a Long-Term Incentive Program (LTIP) to
align the interests of the participating employees with those of the Company's
shareholders. Each vested RSU give the holder the right to receive one share in
the Company at an exercise price corresponding to the par value of the shares
being NOK 0.10.
The total program ended at 85,058 RSUs. The transaction is settled in treasury
shares, and following the transaction, the Company holds 9,473 treasury shares.
For more information:
Ingrid Aarsnes, VP IR & ESG, Hexagon Composites Telephone: +47 950 38 364 |
ingrid.aarsnes@hexagongroup.com (mailto:ingrid.aarsnes@hexagongroup.com)
About Hexagon Composites ASA Hexagon delivers safe and innovative solutions for
a cleaner energy future. Our solutions enable storage, transportation, and
conversion to clean energy in a wide range of mobility, industrial and consumer
applications. Learn more at www.hexagongroup.com (http://www.hexagongroup.com)
and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act
17 August 2023: Hexagon Composites (OSE: HEX.OL), world leader in composite cylinder technology and related systems that enable safe delivery of clean gaseous energy for transportation, industries and homes, reported record high revenues of NOK 1 368 (1 034) million (excluding Hexagon Purus) in the second quarter 2023. This represents 32% growth compared to the same quarter last year, driven by higher volumes and improved pricing. The EBITDA reached NOK 148 (90) million.
On 29 June, the board of directors of Hexagon Composites ASA resolved to distribute 25% of the outstanding shares in Hexagon Purus ASA as a dividend-in-kind to its shareholders and enter into a total return swap for an additional 5% of the shares, effectively reducing ownership in Hexagon Purus to 38.4%. This reduction entailed deconsolidation of Hexagon Purus from Hexagon Composites and generated an accounting gain of NOK 2.35 billion.
Chief Executive Officer statement
“We are pleased to see the profit improvement measures taking effect in Hexagon Agility, and together with high recurring volumes in Hexagon Ragasco driving increased profitability in the quarter,” says Jon Erik Engeset, CEO Hexagon Composites.
Outlook
The ongoing sustainability-driven developments in the EU and the US, as well as changes in industry dynamics, support significant long-term clean energy technology opportunities. These trends are positive for all Hexagon business units.
For further details, please see the attached second quarter 2023 report and presentation.
Presentation of the results today at 08:30 am CEST
Jon Erik Engeset (CEO) and David Bandele (CFO) will present the results at 08:30 am today in Oslo. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level. If you would like to attend the presentation, please pre-register by emailing ir@hexagongroup.com, alternatively register upon arrival.
The presentation will also be broadcast live via:
https://channel.royalcast.com/landingpage/hegnarmedia/20230817_2/
For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
\n\n10 August 2023: As previously disclosed, Hexagon Agility, a business of Hexagon Composites, signed a multi-year agreement in March 2021 with Certarus, a leading full-service provider of bulk gas transport, to supply Mobile Pipeline® modules for compressed gases.
Under this agreement, Hexagon Agility has received an additional order estimated at USD 54 million (approx. NOK 553 million). This is the largest single order for Mobile Pipeline ever received.
As the industry leader, Certarus enables customers without pipeline access to transition to lower carbon energy, including compressed natural gas, renewable natural gas (CNG/RNG), and hydrogen rapidly driving customer decarbonization.
“We are accelerating the adoption of low carbon fuels with use of Hexagon Agility’s next generation TITAN modules,” said Curtis Philippon, President and CEO of Certarus. “The demand for our offering continues to rapidly grow as customer urgency to reduce emissions and secure reliable energy cost effectively is consistently driving us to improve our capabilities and scale our platform. The TITAN modules have been the backbone of our fleet and we are excited to expand our operations with the new TITAN 450 that will allow us to deliver more gas with fewer trips.
Driving energy transformation
“We’re proud to have worked with Certarus for over a decade to drive energy transformation,” said Miguel Raimao, Vice President of Mobile Pipeline at Hexagon Agility. “Our newest innovation, the TITAN 450, is a game-changer. It expands our portfolio of gas transport solutions at a critical time when the world is increasingly turning to RNG as an immediate and cost-effective carbon negative solution.”
The new modules will be used by Certarus to transport CNG/RNG to decarbonize industrial applications; provide critical utility support during demand peaks and pipeline outages and connect RNG production facilities to natural gas pipelines.
Higher capacity, lighter design, lower emissions
TITAN 450 enables the safe transport of almost half a million standard cubic feet of CNG/RNG in a 40-foot module, resulting in a lower carbon footprint and reduced operating costs. The new product employs the latest technology in Type 4 composite cylinders and high-strength frame design. It delivers 25% greater gas capacity, while being 20% lighter in the same 40-foot length.
As with the current generation of TITAN products, the modules are approved for a variety of gases including CNG, RNG, Helium, and Hydrogen.
Timing
Deliveries of the new orders will commence in Q1 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Certarus
Certarus is the North American leader in providing on-road low carbon energy solutions through a fully integrated CNG, RNG, and hydrogen platform. Certarus operates the largest virtual pipeline fleet in North America, with over 730 trailers by the end of 2023, to safely deliver clean burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Certarus is leading the energy transition and helping customers lower operating costs and improve environmental performance. With the largest fleet of mobile storage units in North America, Certarus is uniquely positioned to meet the growing demand for low and zero emission energy distribution. Learn more at certarus.com.
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange release was published by Ingrid Aarsnes, VP IR & ESG, Hexagon Composites ASA on 10 August 2023 at 06:44 am CEST.
3 August 2023: Hexagon Composites ASA's second quarter and half-year results for 2023 will be released on 17 August 2023 at 07:00 am CEST.
Jon Erik Engeset, CEO and David Bandele, CFO will present the results at 08:30 the same morning. The presentation will be held in the Auditorium at Hexagon's location in Oslo, Haakon VIIs gate 2, on the lower level.
If you would like to attend the presentation, please pre-register by emailing ir@hexagongroup.com, alternatively register upon arrival. The presentation will also be broadcasted live via: https://channel.royalcast.com/landingpage/hegnarmedia/20230817_2/
For more information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
26 July 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received orders for Mobile Pipeline® modules and renewable natural gas (RNG) fuel systems at a total value of USD 31 million (approximately NOK 310 million) from a major refuse fleet in North America. The modules will be used in mobile refueling of the company’s growing fleet of RNG vehicles.
“We applaud our customer for their continued commitment to reduce emissions through use of renewable natural gas,” said Miguel Raimao, Vice President of Mobile Pipeline at Hexagon Agility. “These orders demonstrate the great synergy across our product portfolio. Our mobile refueling modules enable fleets to accelerate adoption of natural gas vehicles at locations lacking fueling infrastructure. Conversely, the growing demand for natural gas vehicles is driving the need for mobile refueling solutions.”
About the market
RNG results in the greatest reduction of greenhouse gas emissions of any clean energy solution available today in the transport sector. In addition, RNG is supported by a vast pipeline infrastructure in North America, allowing for immediate deployment of this cost effective and commercially available technology. Research shows that RNG derived from agricultural waste can offer more than 200% improvement in well-to-wheel emissions compared to diesel and is the only carbon negative fuel available.
According to NGVAmerica and the Coalition for Renewable Natural Gas, in 2022, 69% of all on-road fuel used in natural gas vehicles was RNG. This number grew by 17% compared to 2021 volumes, increasing 218% over the last five years.
Timing
Deliveries of the fuel systems are scheduled to start in the fourth quarter of 2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
26 July 2023: Hexagon Agility, a subsidiary of Hexagon Composites, has received orders for Mobile Pipeline® modules and fuel systems from a major refuse fleet in North America. The modules will be used in mobile refueling of the company’s growing fleet of renewable natural gas (RNG) vehicles.
Total orders received to date represent an estimated value of USD 31 million (approx. NOK 310 million).
“We applaud our customer for their continued commitment to reduce emissions through use of renewable natural gas,” said Miguel Raimao, Vice President of Mobile Pipeline at Hexagon Agility. “These orders demonstrate the great synergy across our product portfolio. Our mobile refueling modules enable fleets to accelerate adoption of natural gas vehicles at locations lacking fueling infrastructure. Conversely, the growing demand for natural gas vehicles is driving the need for mobile refueling solutions.”
About the market
RNG results in the greatest reduction of greenhouse gas emissions of any clean energy solution available today in the transport sector. In addition, RNG is supported by a vast pipeline infrastructure in North America, allowing for immediate deployment of this cost effective and commercially available technology. Research shows that RNG derived from agricultural waste can offer more than 200% improvement in well-to-wheel emissions compared to diesel and is the only carbon negative fuel available.
According to NGVAmerica and the Coalition for Renewable Natural Gas, in 2022, 69% of all on-road fuel used in natural gas vehicles was RNG. This number grew by 17% compared to 2021 volumes, increasing 218% over the last five years.
Timing
Deliveries of the fuel systems are scheduled to start in the fourth quarter of 2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
7 July 2023: Hexagon Agility, a business of Hexagon Composites, has received an inaugural order for Mobile Pipeline® TITAN 450 modules from an industry-leading U.S. energy company. The modules will be used to supply clean natural gas to its fleet to reduce carbon emissions and operating cost.
The order represents an estimated value of USD 14.3 million (approx. NOK 155 million).
Mobile Pipeline is vital to driving energy transformation by providing alternatives to petroleum fuels with the use of clean and renewable natural gas. Natural gas is today's low carbon, cost effective alternative energy. With more than 1,800 Mobile Pipeline modules deployed around the world, Hexagon Agility continues to set the standard for safety, reliability, and performance.
“We remain committed to driving energy transformation,” says Miguel Raimao, VP Mobile Pipeline, Hexagon Agility. “Our TITAN 450 modules are engineered to deliver world class performance in the most demanding applications, and we look forward to serving our customer with this exciting new product.”
Timing
Deliveries of the new orders will commence in the second quarter of 2024.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Issuer: Hexagon Composites ASA
Ex-date: 6 July 2023
Dividend-in-Kind amount: 0.3432 Hexagon Purus ASA shares per Hexagon Composites ASA share
Announced currency: NOK
This information is published in accordance with the requirements of the Continuing Obligations
Attached is also an information letter that has been prepared by Hexagon Composites ASA.
For further information, please contact:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Email: ingrid.aarsnes@hexagongroup.com
Issuer: Hexagon Composites ASA","text":"Issuer: Hexagon Composites ASA\n\nEx-date: 6 July 2023\nDividend-in-Kind amount: 0.3432 Hexagon Purus ASA shares per Hexagon Composites\nASA share\nAnnounced currency: NOK\n\nThis information is published in accordance with the requirements of the\nContinuing Obligations\n\nAttached is also an information letter that has been prepared by Hexagon\nComposites ASA.\n\nFor further information, please contact:\nIngrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA\nEmail: ingrid.aarsnes@hexagongroup.com\n"},"extensions":{},"source":"ob"},{"news_id":"0ea54004-0e8d-4d13-a4f8-91857dea9c31","group_id":"a8cbaa49-ba8f-4cad-8bc3-96f43b7e06cd","url":"https://mfn.se/one/a/hexagon-composites/hexagon-purus-enters-into-framework-agreement-to-deliver-hydrogen-distribution-systems-to-a-leading-global-energy-company-0ea54004","author":{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]},"subjects":[{"entity_id":"2512e693-bd29-447d-b6ba-f09f71bc7eab","slug":"hexagon-composites","slugs":["hexagon-composites"],"name":"Hexagon Composites","isins":["NO0003067902"],"leis":["5967007LIEEXZXJWMW49"],"tickers":["XOSL:HEX"]}],"properties":{"lang":"en","tags":[":regulatory"],"type":"ir","scopes":["NO"]},"content":{"title":"Hexagon Purus enters into framework agreement to deliver hydrogen distribution systems to a leading global energy company","slug":"hexagon-purus-enters-into-framework-agreement-to-deliver-hydrogen-distribution-systems-to-a-leading-global-energy-company-0ea54004","publish_date":"2023-07-05T09:16:00Z","html":"
Ex-date: 6 July 2023
Dividend-in-Kind amount: 0.3432 Hexagon Purus ASA shares per Hexagon Composites
ASA share
Announced currency: NOK
This information is published in accordance with the requirements of the
Continuing Obligations
Attached is also an information letter that has been prepared by Hexagon
Composites ASA.
For further information, please contact:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Email: ingrid.aarsnes@hexagongroup.com
(Oslo, 5 July 2023) Hexagon Purus, a world leading manufacturer of zero emission mobility and infrastructure solutions, has secured a five-year framework agreement for the delivery of hydrogen distribution systems to a leading global energy company. Hexagon Purus’ hydrogen distribution systems including its type 4 hydrogen cylinders will be used to deliver hydrogen to a network of hydrogen refueling stations in Europe. The framework agreement represents a potential sales value of approximately EUR 27 million.
Driving Energy Transformation
“The demand for our distribution system technology continues to remain strong on the back of increased use of hydrogen as feedstock in industry processes but also increasingly for zero-emission mobility. Our hydrogen distribution systems based on Type-4 high-pressure cylinders offers the optimal combination of weight and payload resulting in lower total cost of ownership compared to other available technologies for transportation of hydrogen”, says Michael Kleschinski, EVP of Hexagon Purus.
About the market
The mobility sector is accountable for approximately 20% of annual carbon emissions globally, and hydrogen has a significant role to play in reducing these emissions. Making green hydrogen available for use in the mobility sector and in other “hard to abate” industrial sectors is critical to reduce carbon emissions.
As hydrogen, a key contributor to the energy transition, continues to build momentum globally, more than 30 countries have released hydrogen roadmaps, USD 320 billion in direct investments into hydrogen projects have been announced through 2030, more than 1,000 hydrogen projects have been announced globally to date and green hydrogen is projected to supply up to 25% of the world's energy needs by 2050.
For more information:
Mathias Meidell, Investor Relations Director, Hexagon Purus
Telephone: +47 909 82 242 | mathias.meidell@hexagonpurus.com
About Hexagon Purus
Hexagon Purus, a Hexagon Composites company, enables zero emission mobility for a cleaner energy future. The company is a world leading provider of hydrogen Type 4 high-pressure cylinders and systems, battery systems and vehicle integration solutions for fuel cell electric and battery electric vehicles. Hexagon Purus' products are used in a variety of applications including light, medium and heavy-duty vehicles, buses, ground storage, distribution, refueling, maritime, rail and aerospace.
Learn more at www.hexagonpurus.com and follow @HexagonPurus on Twitter and LinkedIn.
29 June 2023: Reference is made to the announcement by the Company today regarding the resolution to distribute 69,199,264 shares in Hexagon Purus as a dividend in kind.
Dividend-in-Kind amount: 0.3432 Hexagon Purus ASA shares per Hexagon Composites ASA share
Announced currency: NOK
Last day including right: 5 July 2023
Ex-date: 6 July 2023
Record date: 7 July 2023
Payment date: 14 July 2023
Date of resolution: 29 June 2023
This information is published in accordance with the requirements of the Continuing Obligations.
29 June 2023: Hexagon Composites ASA (“Hexagon Composites” or the “Company”) refers to the resolutions by the extraordinary general meeting of the Company on 28 June 2023, authorizing the Board of Directors to distribute shares in Hexagon Purus ASA as dividend-in-kind to its shareholders. Hexagon Composites’ Board of Directors has today resolved to use the authorization to distribute 0.3432 Hexagon Purus ASA shares per Hexagon Composites ASA shares held, in total 69 199 364 shares. The dividend-in-kind will be distributed to shareholders in the Company as per the expiry of 5 July 2023 (last day including right) as registered with the Company’s shareholder register with the VPS as per the expiry of 7 July 2023 (record date). The Company’s shares will trade excluding dividend-in-kind on 6 July 2023. The key information is also published as a separate announcement.
The distribution represents 25% of the total number of outstanding shares in Hexagon Purus and will serve to increase the free float in the Hexagon Purus share. The Company believes it is in the interest of the shareholders of both Hexagon Composites and Hexagon Purus that the businesses are operated and directed as independent companies, enabling both businesses to fully leverage their growth potential. The Company intends to retain its current ownership in Hexagon Purus for the foreseeable future, taking into account the TRS referenced below.
Statement from Hexagon Composites ASA to all shareholders in Hexagon Purus ASA related to Hexagon Composites ASA’s influence in the Board of Hexagon Purus ASA
On 25 May 2023, Hexagon Purus ASA held its annual general meeting where changes to the Board of Directors were effectuated. Hexagon Composites currently has two (2) out of seven (7) representatives of the Board of Directors of Hexagon Purus ASA, reflecting the Company’s intention of a non-controlling ownership position.
To further substantiate the non-controlling ownership position in Hexagon Purus, the Board of the Company has today resolved that for as long as the Company holds less than 55% of the total number of issued shares in Hexagon Purus, (a) the number of board members who are (i) nominated or proposed by the Company, or (ii) an employee or board member of the Company (each in the case of (i) and (ii) a “Hexagon Composites Director”) shall be less than 50% of the total number of board members in Hexagon Purus at any time.
Furthermore, due to the Company’s longstanding relationship with the Flakk Group, controlled and owned by the chairman of Hexagon Composites ASA, Mr. Knut Flakk, the Board also resolved that in the event (i) Mr. Knut Flakk, or (ii) any representative of himself, or his related parties (in each case a “Flakk Director”) are nominated and elected as a board member of Hexagon Purus, the sum of all Hexagon Composites Directors together with all Flakk Directors shall be less than 50% of the total number of board members in Hexagon Purus at any time for as long as the Company holds less than 55% of the total number of issued shares in Hexagon Purus.
The resolutions made are irrevocable until 31 December 2027.
Total Return Swap (“TRS”) agreement
The Company has entered into a TRS agreement with its Nordic banking partners, with financial exposure to 13,839,872 shares, equivalent to 5% of Hexagon Purus’ issued shares. The price under the TRS agreement is 19.80 NOK and the expiry date of the agreement is 28 June 2024.
Following the sale of 5% shares under the TRS agreement to the Nordic banks, Hexagon Composites’ financial exposure in Hexagon Purus remains unchanged at 120,101,133 shares, equivalent to 43% of total shares while the ownership and voting rights will be equal to approximately 38%.
The proceeds from the TRS will improve Hexagon’s capital structure and liquidity.
For further information, please contact:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
\n\n28 June 2023: The extraordinary general meeting of Hexagon Composites ASA was held today, 28 June 2023 in Oslo, Norway. All proposals on the agenda were adopted as proposed. Complete minutes of the meeting are attached to this release and available on www.hexagongroup.com.
For more information:
Ingrid Aarsnes, VP Investor Relations & ESG, Hexagon Composites ASA Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
\n\n28 June 2023: As previously disclosed, Hexagon Agility, a business of Hexagon Composites, signed a master services agreement in October 2019 with UPS, the world’s premier package delivery company and a leading provider of global supply chain management solutions, to supply renewable natural gas (RNG) fuel systems for medium- and heavy-duty trucks.
Under this agreement, Hexagon Agility has received additional 2023 orders of USD 20.9 million (approx. NOK 225 million) for delivery of RNG fuel systems for heavy- and medium-duty trucks. This is in addition to the USD 19 million (approx. NOK 205 million) of previously announced orders from February 2023.
“We are pleased to support UPS’ continued commitment to transition its fleet to RNG resulting in greater emission reductions,” said Eric Bippus, EVP Sales and Systems Development at Hexagon Agility. “Together, we are paving the way for a cleaner and greener future.”
About the market
RNG results in significant reductions of greenhouse gas (GHG) emissions when compared to other clean energy solutions available today. In North America, RNG is supported by abundant natural gas pipeline infrastructure which allows for its immediate use today, and for decades to come. Hexagon Agility is enabling the adoption of RNG to cost effectively combat climate change.
Timing
Deliveries of the new orders will commence in the third quarter of 2023.
For more information:
Karen Romer, SVP Communications, Hexagon Composites ASA
Telephone: +47 950 74 950 | karen.romer@hexagongroup.com
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA
Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation solutions. Its product offerings include (renewable) natural gas storage and distribution systems, Type 4 composite natural gas cylinders, propane, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on Twitter and LinkedIn.
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
23 June 2023: The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has resolved to provisionally award up to 73,106 Performance Share Units ("PSUs") to a primary insider. The PSU allocation is in accordance with the Board of Director's compensation policy for the executive management. This policy is described in the Company's Guidelines for remuneration of executive management as approved at the Annual General Meeting on 28 April 2021.
The PSUs are non-transferable and will vest on 31 March 2026 subject to satisfaction of the applicable vesting conditions. The actual number of PSUs to be allocated will depend on 2025 financial performance in addition to the development of market cap of the Company from award up to vesting. The number of PSUs will attain minimum zero and maximum 73,106. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10. The total number of outstanding PSUs are now provisionally 6,129,326.
Further details of the primary insider's transactions pursuant to the market abuse regulation article 19 are attached.
For more information:
Ingrid Aarsnes, VP Investor Relations and ESG, Hexagon Composites ASA Telephone: +47 950 38 364 | ingrid.aarsnes@hexagongroup.com
About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation, and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com (http://www.hexagongroup.com) and follow @HexagonASA on Twitter and LinkedIn.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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