Hexagon Composites ASA: Hexagon Agility receives orders for Class 8 series trucks piloting the new Cummins X15N CNG engine

26.2.2024 07:00 • Cision •

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.

https://www.nordnet.no/market/news/1009123782

Below the X5’s floor, a massive pair of carbon-fiber-reinforced plastic tanks hold 6 kilograms of hydrogen, pressurized at a hydrogen industry standard of 700 bars (70,000 kilopascals).

https://spectrum.ieee.org/bmw-hydrogen-fuel-cell


Hexagon Purus joins forces with BMW, Bosch and TesTneT on project “FlatHyStor” to research innovative hydrogen storage system solutions for hydrogen-powered vehicles

February 03, 2022 10:35 ET|

https://www.globenewswire.com/news-release/2022/02/03/2378688/0/en/Hexagon-Purus-joins-forces-with-BMW-Bosch-and-TesTneT-on-project-FlatHyStor-to-research-innovative-hydrogen-storage-system-solutions-for-hydrogen-powered-vehicles.html

https://www.sustainable-bus.com/cng-lng-bus/iveco-urbanway-cng-athens-greece-order-100/


13.november 2023:
https://www.guests.co.uk/iveco-s-way-6x2-cng/

WASHINGTON, D.C. – Following U.S. Senator Sherrod Brown’s (D-OH) push, the U.S. Department of Treasury agreed to revise its proposed rules for implementing the revised Section 48 Investment Tax Credit (ITC) of the Inflation Reduction Act to ensure the final language promotes the conversion of biogas into renewable natural gas to support American manufacturing innovation, the waste management industry, and American farmers.

https://www.brown.senate.gov/newsroom/press/release/sherrod-brown-successfully-pushes-treasury-fix-proposed-rule-support-american-biogas-manufacturing

Innen såkalt 'grønn sektor' er vel situasjonen den at de fleste selskap ikke guider særlig spesifikt langsiktig og/eller ikke innfrir forventningene markedet har.

Desto sterkere levert er det altså dermed av Hexagon Purus å skille seg positivt ut gjennom å gjenta det man må kunne betegne som meget spenstig guiding for 2025, gitt ved børsnoteringen høsten 2020, så seint som i forrige uke!

Sett på denne bakgrunn, fremstår den ekstremt svake kursutviklingen som besynderlig.

i 82 kr lå det litt grønn overhyping også:-)
Er enig med deg at det er solid at de holder guidingen fra 2020 og det er bare 1-2 år igjen til de er der.

Hexagon Purus (HPUR).

1 146% oppside fra dagens sluttkurs (7.17 NOK) til ATH 4.januar 2021 (82.10 NOK).

Aksjen steg til ATH som en følge av langsiktig, tallfestet guiding for 2025, gitt ved børsnoteringen høsten 2020. Selskapet fastholdt og gjentok denne guidingen i forrige uke, under Q4 2023, 13.februar 2024. Ekstremt imponerende dette, spør du meg.

Guiding gitt høsten 2020, og altså gjentatt så seint som i forrige uke:

Omsetning 4 - 5 milliarder NOK og EBITDA break-even i 2025.

https://www.youtube.com/watch?v=dygYj9qn7i0

Er vi på rock bottom nå?
Det går jo ikke krisedårlig med dem heller.

Stadler has secured a deal with the State of California to construct an additional six hydrogen-powered trains. This agreement, an extension of a contract initially inked in October 2023, will bolster California’s fleet to a total of ten eco-friendly hydrogen trains.

The expansion follows Stadler’s previous announcement of an 80 million US dollars (approximately 75 million euros) order for four four-car hydrogen fuel cell trains for California State Transportation Agency (CalSTA) and Caltrans last autumn.

https://www.railtech.com/rolling-stock/2024/02/20/california-to-receive-6-more-stadler-hydrogen-powered-trains/?gdpr=deny

Fra 2020:

https://www.globenewswire.com/news-release/2020/11/06/2121714/0/en/Hexagon-Purus-to-supply-composite-high-pressure-cylinders-for-the-development-of-the-first-hydrogen-powered-commuter-train-in-the-U-S.html


https://www.pipeline-journal.net/news/eu-approves-eu69-billion-hydrogen-infrastructure-project-boosting-green-goals

I all hovedsak blir Hex straffet pga nedskrivning av eiendeler i Hexagon Purus...Litt morsomt med tanke på at eiendelene ikke er synliggjort i selskapsverdien til Hexagon Comp! Spesielt at dette også toppes med et kursfall på 20% i tillegg da...

A Norwegian manufacturer focused on zero emission products will move ahead with plans to open a facility in Mesquite that could employ hundreds.

Hexagon Purus signed an agreement with commercial vehicle manufacturer Hino Motors in March 2023 and began its quest to find the right site for capacity to not only support existing contracts, but to grow. It also entered into a strategic agreement with Daimler Truck North America to incorporate Hexagon Purus technology into electric freightliners.

The Oslo-based company’s search led it to North Texas, where it will install lithium-ion batteries for its vehicle partners.

https://www.dallasnews.com/business/jobs/2024/02/16/norwegian-company-to-bring-up-to-250-jobs-to-mesquite/

https://bnnbreaking.com/tech/hexagon-purus-pioneers-zero-emission-mobility-solutions-in-mesquite-texas

Hexagon Composites ASA (HXGCF) reported a robust financial performance for the fourth quarter of 2023, with CEO Jon Erik Engeset announcing revenues of NOK 5.2 billion and an improved EBITDA margin of 9%.

https://www.investing.com/news/stock-market-news/earnings-call-hexagon-composites-reports-strong-2023-optimistic-on-2024-93CH-3305816


One company featured in this year’s OKGo campaign is Hexagon Purus, which has a 60,000 sq.-ft. plant in the airport business park where more than 1,000 battery-electric systems will be produced annually. 

Hexagon Purus has also signed a $2 billion deal with Hino Trucks, a Japanese firm, that could see the production of thousands of electric-powered heavy duty trucks using batteries made in Kelowna. 

https://www.kelownadailycourier.ca/news/article_020b80d6-cc52-11ee-90a5-5319889505ad.html

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.

https://hexagongroup.com/news/hexagon-composites-asa-fourth-quarter-2023

Renewable electricity from biogas remains dominant, but growth is in RNG

While power projects that make renewable electricity from biogas account for 69% of all biogas produced in the US, RNG projects represented 91% of all new projects that came online in 2023.

This mainly stems from policies such as the federal Renewable Fuel Standard (RFS) and the California Low Carbon Fuel Standard (LCFS), which promote using renewable fuels to replace fossil transportation fuels and to eliminate emissions in natural gas vehicles.

https://www.bioenergy-news.com/news/american-biogas-council-2023-was-third-year-of-record-us-biogas-growth/

https://www.webwire.com/ViewPressRel.asp?aId=317828

Det er kun 2 år til dette og de virker selvsikre på å klare det!

The Company retains its target of NOK 4-5 billion of revenue in 2025. Improving profitability and reaching EBITDA break-even in 2025, combined with prudent and restrictive capital deployment, is of critical importance to the Company.

https://hexagonpurus.com/news/hexagon-purus-asa-results-for-the-fourth-quarter-2023

https://www.offshore-energy.biz/hexagon-purus-gears-up-for-hydrogen-surge-by-expanding-business/

https://www.globenewswire.com/news-release/2024/02/07/2824857/0/en/Hexagon-Purus-selected-by-New-Flyer-for-the-fourth-time-as-partner-for-the-hydrogen-bus-market-in-North-America.html


https://www.nrk.no/sorlandet/hydrogen-skal-kutte-fly-utslipp_-oslo-kristiansand-kan-bli-forst-ut-1.16744005


https://www.vestlandfylke.no/nyheitsarkiv/2024/vil-ha-staten-med-pa-framtidas-hurtigbat/

The company announced several collaborations that further enable our customers to achieve their decarbonization goals. Freightliner announced they are partnering with Cummins to offer the new Cummins X15N natural gas engine in its heavy-duty Freightliner Cascadia trucks. Also, Cummins Inc. and Knight Transportation, Inc. announced that the industry’s largest full truckload company has successfully tested Cummins’ new X15N engine, using renewable natural gas to realize reductions in nitrous oxides and greenhouse gas without compromising performance. The X15N, which will launch in North America in 2024, is the first natural gas engine to be designed specifically for heavy-duty and on-highway truck applications. The X15N has already achieved success in the heavy-duty truck market in China with strong customer demand and market penetration.

https://www.therepublic.com/2024/02/06/cummins-reports-fourth-quarter-and-full-year-2023-results/


https://www.topspeed.com/cummins-plans-for-electrified-future/

https://www.wastetodaymagazine.com/news/deloitte-report-highlights-potential-for-renewable-natural-gas-to-displace-natural-gas-demand/

https://www.hydrogeninsight.com/transport/chinese-provinces-aim-to-install-more-than-1-200-hydrogen-refuelling-stations-by-end-of-next-year-analyst/2-1-1592421

https://kommunikasjon.ntb.no/pressemelding/18043587/innovasjon-noreg-stotter-norwegian-hydrogens-byggeprosjekt-pa-hellesylt?publisherId=89989&lang=no


https://hexagonpurus.com/news/japanese-mitsui-co-invests-in-norwegian-hydrogen-as

https://www.investing.com/news/stock-market-news/hexagon-digital-wave-secures-deal-with-linde-gas-93CH-3280264

https://dtgreviews.com/uncategorised/revolutionary-alternatives-to-cylinder-testing-enhancing-safety-and-efficiency/215209/#gsc.tab=0

Som så ofte, ikke så mye som et lite pip i norske finans-/næringslivspresse når Hexagon Composites's Hexagon Agility i dag børsmelder ny kontrakt verdt ca. 200 millioner NOK.

Når det gjelder Hexagon Groups fremtidsutsikter, er troen sterkere enn noensinne nå ved inngangen til det nye året. Det gjelder såvel for Composites som for Purus. Det tegner veldig, veldig bra nå som store triggere rykker nærmere for hver dag som går. Produksjon for Toyotas Hino, Cummins 15l motor (!), Daimler og Ford, mer med Toyota. For å nevne noe.

Tyske DER AKTIONÄR publisererer om dagens storfine nyhet, kaller kontrakten et storoppdrag innen mobile pipeline som man han har god tro på at snart vil bli fulgt av flere i samme gate, sier kjøpsanledning og har Hexagon Composites som en av sine favorittaksjer i børsåret 2024.


Heute, 12:00 ‧ Michel Doepke

Hexagon Composites: Nächster Top‑Auftrag – Rücksetzer als Kaufchance
...
Hexagon Composites startet mit einem Großauftrag ins neue Jahr. Die Chancen, dass die Norweger vor allem in Nordamerika in den kommenden Wochen und Monaten weitere Großaufträge einfädeln können, stehen gut. Für DER AKTIONÄR gehört die Aktie des Unternehmens zu den favorisierten Titeln für das Jahr 2024. Spekulativ ausgerichtete Anleger nutzen den jüngsten Rücksetzer zum Einstieg.

https://www.deraktionaer.de/artikel/mobilitaet-oel-energie/hexagon-composites-naechster-top-auftrag-ruecksetzer-als-kaufchance-20347324.html

Nydelig kontraktsmelding. Markedet bryr seg fint lite, men det er vi jo vant med. De må nok imponere mer i kvartalsrapportene først

meet growing demand for RNG
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.”

https://kommunikasjon.ntb.no/pressemelding/18035487/hexagon-purus-extends-framework-agreement-with-leading-european-green-hydrogen-producer-for-hydrogen-distribution-systems-in-europe?publisherId=4954260

Noe skjer her nå.Flakk er tydligvis ikke beredt til å gi japanerne alt og har derfor gjennom Flakk Composities AS kjøpte over 2 mill Purus aksjer 13 -14 d.m . Godt nytt for HEX også dette. Kampend tettner til

Nå blinker den grønn på alle parameter på programmet mitt. Se volumutviklingen spesielt! - Dette blir stort !

Ikke uten grunn at mange holder denne som sin favoritt av årets nyttårsrakketter

Da har hexa satt seg på kosteskaftet og flyr. Japanerne vet hva de driver med her.

Hex med dets underselskaper vokser nå kraftig ute i verden. Ikke rart at japanerne strammer grepet. Skulle ikke undre meg om de snart sluker hele Hex gruppen og tar det hele av børs

Hexagon Purus skal levere lagringssystem til Ford Trucks
Hydrogenselskapet Hexagon Purus har fått en kjøpsordre fra Ford Trucks om å levere et lagringssystem for hydrogendrivstoff til Fords tunge lastebiler, ifølge en børsmelding.

Ordren inngår i et prosjekt der Ford ønsker å utvikle en større flåte av nullutslippslastebiler.

Levering av systemet er planlagt i første kvartal 2024.

Hexagon Purus meldte søndag kveld at de har mottatt ordrer på hydrogendistribusjonssystemer til en verdi på rundt 9,6 millioner euro.

Gode kontrakter strømmer inn i datterselskapene. - Se børsmeldinger

Flakk ble fornærmet da han måtte styre etter direktiver fra Japan. Nå er han heldigvis bare en marjonettefigur. Japanerne trekker i alle trådene her. Så følg med !

Toget er repparert og japanerne styrer nå. TUT-TUT.

Flakk knuste fronten på det Donald toget såpass ettertrykkelig at tut tut virker noe malplassert

Da går toget. Tut-tut

Du tenker på enigheten ifm. COP28..!? Har egentlig ikke fulgt helt med, men viss du sikter til enigheten om et felles fond for å bekjempe klimautfordringer i fattige land, bør det gi muligheter...😉

Sier bare en ting. - Følg med NÅ !

WOW her ble kjøpsdag i dag

Var det noe jeg ikke fikk med meg ift Q3 resultatet!?🤔Resultatene er på tur oppover, men hva får selskaper som leverer på/over estimater å falle 5-10% etter resultat framleggelser...!? Dette ser vi ikke bare i Norge, men er kommentert som en observasjon både her og over dammen...Ikke vanskelig å forstå at handel foregår av roboter, når man ser Oslo børs beveger seg mellom definerte bunner og topper vekselvis gjennom hele dagen!🤔 For en jævla saueflokk!

HEX tjener 1 mrd NOK i året og er priset til 5 mrd NOK. Hvorfor er de priset med en slik rabatt? Det normale ville vært prising til 10 ganger overskuddet for en bedrift med en fornuftig fremtid.

Takk for svar. Det jeg finner mest plagsomt med dette nedsalget var at ikke det ble foretatt på høyere nivå da kursen noen få uker før tross alt strakk seg mot og over 38. Ser panisk ut på 32 med storsalg rabatt til 28.
Han klarte uomtvistelig å skade kursen betydelig. Også skal etterdønningene dra det ytterligere ned.

Aksjemarkedet må kanskje ha noen kvartal til for å bli overbevist om at det ikke er noen svarte skyer Flakk så som vi andre ikke ser....
Altfor stort salg til å ha noe med skatteinnbetalinger å gjøre.
Kan vi håpe at den bunnet på 24 idag, noen som vet om det passer teknisk også?

Flakks 'ettermiddagssalg' av 5 millioner aksjer+ på kurs 28 (mer enn 4 kroner under sluttkurs samme dag, såvidt jeg husker) opplevdes jo selvfølgelig som en gedigen en, midt på trynet. Kursmessig, og en på ingen måte noen god opplevelse for en småaksjonær. I etterkant har jo dessuten kursen falt videre.

Antar Flakk, som jo har profilert seg som 'formueskatt på arbeidende kapital opprører' bl.a. trengte penger til skatteinnbetaling. Når han tok så godt i, kan man kanskje i det minste kanskje håpe at slikt nå ikke blir en årlig foreteelse???

Kan ikke skjønne at salget er forankret i det fundamentale, altså at han ville ut på grunn av det. Marginforbedringene i Q2 2023 var jo langt mer oppløftende enn noen hadde forventet samtidig som omsetningsveksten YOY kom inn i klart akseptabelt 'vekst-aksje-terreng'. Stemningen og kroppsspråk under Q2 presentasjonen vil jeg dessuten karakterisere som veldig 'upbeat'. Så har fortsatt god tro når det gjelder det fundamentale.

Aner ikke om dette er et tilfredstillende svar på spørsmålet du stilte, men er litt slik jeg ser det.

RA. Flack sendte kursen ned så det sang etter. Hvor skadelig anser du det mot det faktisk fundamentale

En liten digresjon i feelgood kategorien.

Extremely successful visit of Bulgarian companies to Norway

Published on 18.10.2023

Five Bulgarian companies participated in an exchange visit to the project Greening For Growth, funded by the Norwegian Financial Mechanism. Exchanging experience, getting acquainted with on-site innovations, contacts, new ideas are only part of the benefits of the trip shared by the participants.
...
Chavdar Yordanov, „ MEMTEX “ EOOD: „ The visit was extremely well organized. The program was great and the companies very well selected, covering a wide range of activities. I am impressed by the Raufoss industrial park and in particular the Hexagon Ragasco company with its extremely automated production.“

https://rousse.info/%D0%B8%D0%B7%D0%BA%D0%BB%D1%8E%D1%87%D0%B8%D1%82%D0%B5%D0%BB%D0%BD%D0%BE-%D1%83%D1%81%D0%BF%D0%B5%D1%88%D0%BD%D0%B0-%D0%B2%D0%B8%D0%B7%D0%B8%D1%82%D0%B0-%D0%BD%D0%B0-%D0%B1%D1%8A%D0%BB%D0%B3%D0%B0/