SOURCE: Hexagon Composites ASA

Hexagon Composites ASA

August 03, 2012 08:16 ET

First TITAN Modules to Hit the Road in North America

ALESUND, NORWAY--(Marketwire - Aug 3, 2012) - Hexagon Composites' subsidiary, Lincoln Composites has been awarded orders totalling approximately USD 3.5 million (NOK 21 million) to supply lightweight TITAN™ transportation modules to NG Advantage and LNG Energy Solutions in the U.S. These are the company's first TITAN™ orders in the North American market.

"The first TITAN™ orders to the North American market represent a major milestone for us", says Chet Dawes, Sales Director North America. "TITAN™ has opened up the domestic CNG supply market and allows our customers to take advantage of the same operational cost savings we have seen demonstrated in other areas of the world."

DOT Special Permit
The U.S. Department of Transportation (DOT) awarded Lincoln Composites a special permit in February of this year to allow use of TITAN™ transportation modules in the U.S. The market interest in natural gas as an alternative energy source is rapidly growing due to the large price difference between natural gas and oil. Even with significant pipeline networks in the U.S., there are still many commercial operations located off the pipeline grid that will realize significant cost savings by switching to natural gas for their power generation needs.

The North American market
NG Advantage is a Vermont company delivering natural gas to large industrial, commercial and institutional customers currently not served by pipelines. NG Advantage will load the TITAN™ trailers with CNG (Compressed Natural Gas) for delivery to large fuel users such as factories and food processors throughout Vermont and adjacent New York, New Hampshire, and Southern Maine. NG Advantage was the first U.S. company to place an order with Lincoln Composites for TITAN™ trailers.

LNG Energy Solutions is a Pennsylvania company formed to take advantage of rapidly growing shale gas resources and provide long-term gas supply to customers currently off the infrastructure grid. Traditionally LNG (Liquefied natural gas) has been used by LNG Energy Solutions to transport gas to their clients' industrial needs but with TITAN™ trailers, this process can be simplified with the use of CNG, in many cases, instead of LNG making the delivery even more cost efficient for a broader scope of delivery need.

World's largest Type 4 cylinders
TITAN™ gas transportation modules are made by Lincoln Composites in the United States and contain the world's largest Type 4 cylinders. Each module is designed for 8,510 litre water capacity and 250 bar (3,600 PSI) service pressure. This allows for almost 9,500 litre diesel equivalent (over 2,500 gallon DGE) of fuel. The modular design approach allows movement of up to 10,200 SCM (355,000 SCF) of natural gas on a 40 ft. trailer with a gross weight of less than 30 metric tons (66,000 pounds). With its significantly lighter weight and substantially larger transport capacity, the TITAN™ has proven to reduce operational fuel consumption by more than 60% compared with conventional steel trailer technology.

Leading position
In June Hexagon Composites was awarded a new contract to supply 55 lightweight TITAN™ transport modules to SC Group in Thailand. This represents the largest single TITAN™ contract to date for Hexagon Composites worldwide and demonstrates the company's leading position in Asia.

Hexagon Composites ASA is a listed company with headquarters in Aalesund, Norway. The group has 374 employees and had a turnover of NOK 992 million in 2011. The group develops and manufactures composite cylinders for storage and transport of various pressurized gases and multiaxial composite reinforcements.

Definitions:
Type 4 Composite cylinder with polymer liner

Bar 
Unit of pressure. 1 millibar = 100 N/m²

PSI 
Pounds per Square Inch. Common unit of measurement for pressure

DGE 
Diesel Gallon Equivalent

SCM 
Standard Cubic Meter

SCF 
Standard Cubic Foot

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Images:
TITAN™ transport module on truck: http://hugin.info/132600/R/1631754/523191.jpg
TITAN™ transport module on truck_2: http://hugin.info/132600/R/1631754/523192.jpg

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