Hexagon Agility Announces Additional Orders from UPS

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 compressed natural gas (CNG) and renewable natural gas (RNG) fuel systems for medium- and heavy-duty trucks.

Under this agreement, Hexagon Agility has received USD 21.9 million (approx. NOK 204 million) in new orders in 2022 for delivery of heavy-duty and yard-hauler products. This is in addition to USD 3.7 million (approx. NOK 34 million) of previously announced orders from 2021 expected to be completed in 2022. UPS has also committed under the agreement to purchase USD 32.1 million (approx. NOK 299 million) of medium-duty step van fuel systems.

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