Hexagon Composites’ wholly owned subsidiary has been nominated by a major international car manufacturer to supply Type 4 high-pressure compressed natural gas fuel tanks. The cooperation is expected to commence in third quarter 2014 with an initial product development phase.
The first deliveries are targeted for the beginning of 2017, and the program is scheduled to run for up to seven years. The estimated overall delivery value is around NOK 525 million (approximately US$ 90 million).
“This nomination puts Hexagon Composites in the lead position as Type 4 CNG tank supplier to the passenger car segment and contributes to growth for the company in the following years,” said Jørn Helge Dahl, Director of Market and Sales at Hexagon Raufoss. “This further gives traction to CNG as an alternative fuel solution.”
With around 70% lower weight compared with a Type 1 steel cylinder the Type 4 composite cylinder manufactured by Hexagon Raufoss allows lower vehicle fuel consumption.
Source: Hexagon Composites