1. Hexagon Agility receives $4.2 million in new orders for fuel systems. 2. Orders come from 10 leading Class 8 fleets in the U.S. and Canada. 3. Natural gas adoption is increasing in challenging freight environments. 4. Cummins X15N engine broadens the addressable market for natural gas trucks. 5. Strong fueling infrastructure supports natural gas trucking in North America.
The substantial order influx underscores growing demand for natural gas solutions. Past similar announcements often boosted stock prices significantly, reflecting market optimism.
The influx of orders signals strong market confidence in Hexagon's products. Economic shifts towards cleaner fuel solutions provide a long-term growth trajectory.
The shift towards natural gas in trucks is ongoing, indicating sustainable growth. Similar patterns in energy transitions have shown prolonged positive market effects.
OSLO, Norway, Sept. 2, 2025 /PRNewswire/ -- Hexagon Agility, a subsidiary of Hexagon Composites ASA (OSE: HEX.OL) and the world's leading provider of natural gas (CNG/RNG) fuel systems, has received a new wave of orders totaling USD 4.2 million (approx. NOK 42 million). These orders are for fuel systems installations in trucks powered by Cummins' X15N natural gas engine, designed specifically for the North American heavy-duty truck market.
This latest batch of orders have come from over 10 leading Class 8 fleets in the United States and Canada, and span multiple industries, including logistics, food & beverage, oil & gas, and construction companies.
"Even in a challenging freight environment, we're seeing broad uptake from across North America as fleets look to transition from diesel to natural gas," Eric Bippus, Chief Commercial Officer at Hexagon Agility. "Adoption is gaining traction across industries, driven by the new 15L natural gas engine's diesel-like performance and the immediate fuel cost savings and emissions reductions of natural gas and renewable natural gas."
The North American truck market
Approximately 300,000 heavy-duty trucks are sold annually in the North American market. Previously, 100,000 of these trucks made up the addressable market for natural gas solutions. Now with the Cummins X15N natural gas engine there are natural gas trucks today that are well-suited for every operational, haul and load requirement a fleet may have, adding 200,000 heavy-duty trucks to the addressable market for CNG/RNG annually.
With power ratings up to 500 hp (~370 kW) and torque up to 1850 lb.-ft (~2500 Nm), the new 15L engine meets the needs of long haul/heavy load demands for high horsepower and offers a range of up to 1,200 miles (2,000 km), matching the capabilities of diesel.
Natural gas trucking is supported by a robust network of over 1,600 public and private CNG/RNG fueling stations across key transport corridors in North America.
Contacts:
Berit-Cathrin Høyvik, Senior Director, Communications, Hexagon Composites
Telephone: +47 988 92 161 | berit-cathrin.hoyvik@hexagongroup.com
David Bandele, CFO, Hexagon Composites
Telephone: +47 920 91 483 | david.bandele@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 bulk gas transportation. Its product offerings include (renewable) natural gas bulk distribution systems of compressed gases, lightweight 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 lowering operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on X 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 and industrial applications. Learn more at hexagongroup.com and follow @HexagonASA on LinkedIn.
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SOURCE Hexagon Composites ASA