Hexagon Composites, a manufacturer of composite cylinders for natural gas vehicles (NGVs), and Agility Fuel Systems, which provides gas fuel system solutions for commercial vehicles, plan to merge Hexagon Composites’ CNG automotive products division, which includes medium- and heavy-duty vehicle composite cylinder manufacturing operations and its bus systems business unit, with Agility, to form Agility Fuel Solutions.
The new entity will be owned equally by Hexagon Composites and Agility’s current investors. According to the companies, the integration of fuel systems and cylinders will provide value by reducing up-front costs for clean technology, accelerating commercialization of new product ideas, and driving faster returns on investments.
The combined company will have production sites in the US, Norway, and Brazil, with technical centers located in Lincoln, Nebraska and Kelowna, British Columbia. Agility Fuel Solutions will manufacture cylinders for use in its systems, as well as for direct sale with offices in the US, Canada, Latin America, Norway, India, and Southeast Asia.
‘This merger combines two market leaders with strong backgrounds in engineering creativity, profitable growth and operational excellence,’ said Kathleen Ligocki, CEO of the newly merged company, Agility Fuel Solutions. ‘Agility is proud of our successful relationship with Hexagon, and together we will target driving adoption of clean natural gas systems in commercial vehicle markets around the world.’
This story is reprinted from material from Agility, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
