Hexagon Composites Nominated by Major Car Manufacturer to Supply Fuel Tanks

15 July 2014

Hexagon Composites' wholly-owned subsidiary Hexagon Raufoss has been nominated to supply Type 4 high-pressure compressed natural gas (CNG) fuel tanks.

The company explains the cooperation commences in third quarter 2014 with an initial product development phase, with the first deliveries targeted for the beginning of 2017. The programme is scheduled to run for up to seven years.

According to Hexagon Composites the estimated overall delivery value is around NOK 525 million (approximately USD 90 million).

"This nomination puts Hexagon Composites in the lead position as Type 4 CNG tank supplier to the passenger car segment and contributes to growth for the company in the following years," commented Jørn Helge Dahl, Director of Market and Sales at Hexagon Raufoss. "This further gives traction to CNG as an alternative fuel solution."

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