Hexagon Composites' wholly owned subsidiary Hexagon Lincoln has entered into a joint venture agreement with Allegheny Creative Energy Solutions LLC (ACES) and engineering firm Resonance Mode Inc to create a new entity. As the majority shareholder, Hexagon Composites will support the new entity to develop and manufacture compressed natural gas (CNG) fuel solutions for the rail industry.
‘We are confident that CNG will become the railroad fuel of the future. Hexagon Composites' strength and capacity make it the only manufacturer able to meet the CNG storage demand,’ said Ross Rowland, Chairman of ACES, LLC.
ACES and Resonance Mode have experience with American railroads and have designed prototype CNG tenders, fuel storage, and trackside refueling systems with Hexagon Composites' bulk-capacity TITAN cylinders. The joint venture's primary focus will be the US market, but it will provide CNG rail solutions globally.
‘We see great opportunities in the global rail market, even with current oil prices,’ says Frank Häberli, vice president, mobile pipeline, Hexagon Lincoln. ‘Long-term competitive fuel pricing and meeting reduced emissions requirements, especially for railroads operating in metropolitan areas, are very important market drivers for the adoption of CNG in this segment.’
This story is reprinted from material from Hexagon, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
