Hexagon Ragasco, a Hexagon Composites company, received its first order in 2021 from a long-term customer in South Asia. The total estimated value of the order is USD 3.8 million (approx. NOK 32 million).

Driving energy transformation

The use of LPG for cooking produces practically no particulates. Its CO2 footprint is 20% lower than that of heating oil and 50% lower than coal. Use of Hexagon Ragasco’s easy-to-handle lightweight, LPG composite cylinders provide a safer and cleaner fuel alternative, while also enabling people to spend less time cooking and gathering fuel, and more time on education and income generation.

“This region of the world is facing the tough effects of the pandemic. Continuing our work with key customers in this region to support their local efforts to meet basic domestic cooking needs safely and efficiently is gratifying,” says Skjalg Sylte Stavheim, President Hexagon Ragasco.

Timing

Hexagon Ragasco’s cylinders will be produced and delivered in Q2 2021.

For more information:

Karen Romer, SVP Communications, Hexagon Composites ASA Telephone: +47 950 74 950 | karen.romer@hexagongroup.com (mailto:karen.romer@hexagongroup.com)

Hiva Ghiri, VP IR, Hexagon Composites ASA Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com (mailto:hiva.ghiri@hexagongroup.com)

About Hexagon Ragasco

Hexagon Ragasco, a Hexagon Composites company, is the world's leading producer of composite LPG cylinders with over 19 million units in use globally. The high-volume, highly automated production facility in Raufoss, Norway is the most advanced of its kind world-wide. Hexagon Ragasco's products are unique and provide many advantages over steel cylinders in terms of safety and user-friendliness. Learn more at www.hexagonragasco.com and follow @Hexagon_Ragasco on Twitter and LinkedIn.

About Hexagon Composites ASA

Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility, industrial and consumer applications. Learn more at www.hexagongroup.com and follow @HexagonASA on Twitter and LinkedIn.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act