Hexagon Composites has transferred its compressed natural gas light-duty vehicle (CNG LDV) activities from Hexagon Purus to Hexagon’s gas-mobility (g-mobility) business.
This transfer establishes Hexagon Purus as a pure e-mobility business.
Post initial COVID-19 disruption, de-carbonization is high up on the global agenda and there is a strong push to limit carbon emissions. This momentum is evidenced by many government responses that have put attention firmly back on climate change, renewable energy and new green technologies. This is creating opportunities for both g-mobility and e-mobility players.
Hexagon Group’s business covers the spectrum of low-carbon and no-carbon mobility solutions. Its strategy focuses along three axes; g-mobility, e-mobility and manufacturing.
Since January, the company has combined all its e-mobility activities in Hexagon Purus to develop its position and pursue zero-emission opportunities in the growing e-mobility market. In that reorganization, CNG LDV remained a part of the Hexagon Purus structure.
“The transfer of CNG LDV to the g-mobility business is a logical step from an industrial perspective. It conforms more with Hexagon’s g-mobility business and benefits from the increased adoption of cleaner energy alternatives, especially natural gas and renewable natural gas,” says Jon Erik Engeset, CEO of Hexagon.
“As the company ramps up for the future and seeks to unlock further value creation in both its g-mobility and e-mobility businesses, now is the time to accelerate our momentum and build on our strengths,” he adds.
The reorganization is expected to be completed by year end of the year.
Photo: Hexagon Purus’ Info & Media web page
