18.05.2017 07:57:31

Hexagon Composites supports Indonesia's CNG conversion ramp-up

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Hexagon Composites' subsidiary Hexagon Raufoss has recently received orders from PT Autogas in Indonesia for CNG cylinders for conversion of 5,000 taxis and government vehicles to compressed natural gas (CNG).

The Indonesian government is actively promoting the usage of natural gas in order to achieve their oil-to-gas program goal to reduce pollution and diversify fuel in the public transportation sector. According to new legislation that is expected to be issued by the government shortly, all gas stations will be required to have at least one dispenser of natural gas.

"We are pleased to continue our partnership with Hexagon Raufoss for the supply of lightweight CNG cylinders to the government's oil-to-gas automotive conversion projects," says Thomas Nurhakim, President Director of PT Autogas. "We selected Hexagon Raufoss' cylinders due to the company's leading industry position in this sector, product durability and reliability, and a proven safety track record."

"We are excited about the momentum of the adoption of environmentally friendly fuels in Indonesia and are pleased that our leading CNG solutions are playing a part in helping reduce pollution in Indonesia. With the country's ambitious goals, we believe that CNG will be a widely-adopted fuel in Indonesia," says Ragnar Holthe, Managing Director of Hexagon Raufoss.

PT Autogas Indonesia, a subsidiary of PT Draco, is a leading conversion company for natural gas powered heavy-duty vehicles, transit buses and passenger cars. In 2016, Hexagon Raufoss delivered 1,000 CNG cylinders to Indonesia for conversion of taxis and governmental vehicles. Its lightweight Type 4 CNG cylinders are ideal for these applications as they are 30% the weight of steel, which reduces fuel consumption and extends range between refillings.

Deliveries are scheduled for second quarter of 2017.

For more information:

Solveig D Saether, Communication Manager, Hexagon Composites ASA

Telephone: +47 906 34 977 | solveig.saether@hexagon.no

Ragnar Holthe, Managing Director Automotive, Hexagon Raufoss AS

Telephone: +47 970 74 245 | ragnar.holthe@hexagonraufoss.com

About PT Autogas

PT Autogas Indonesia established in 2005, is a subsidiary company of PT Draco International, committed to expand a natural gas as an alternative fuel system that uses Compressed Natural Gas (CNG) or Liquefied Gas Vehicle (LGV) as a cleaner alternative fuel.

About Hexagon Composites

Hexagon Composites ASA is a publicly listed company with its headquarters in Aalesund, Norway. The Group develops and produces composite pressure cylinders and systems for storage and transportation of various gases. www.hexagon.no

Follow us on Twitter: @HexagonASA

Hexagon supports Indonesias CNG conversion ramp-up

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Hexagon Composites ASA via Globenewswire

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