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Thursday, 15 February 2018

Hexagon expands its Mobile Pipeline® business into the maritime industry

Hexagon Composites ASA    

Published: 09:40 CET 15-02-2018 /GlobeNewswire /Source: Hexagon Composites ASA / : HEX /ISIN: NO0003067902

Hexagon expands its Mobile Pipeline® business into the maritime industry

Hexagon Composites' subsidiary Hexagon Lincoln has been awarded to supply high-pressure CNG TITAN® tanks for fuel storage onboard a LNG (Liquefied Natural Gas) gas supply vessel (GSV) being built for Babcock Schulte Energy. The TITAN® cylinders will store compressed boil-off-gas from the LNG tanks and flash gas from cargo operations and supply the CNG as fuel to the ship's dual-fuel propulsion engines.

 

The boil-off-gas recovery system is designed by the UK based company, Babcock LGE Process, a market leader in specialized systems for handling, storage and distribution of liquefied gases in both the marine and onshore sectors. The TITAN® cylinders are an integral part of the ship's patent pending FGSV0TM system, developed by Babcock LGE Process, to enable the LNG bunker vessel to meet the emission limits of the IMO Emission Control Areas (ECA) regulations. 

 

"By compressing the boil-off and flash gas and supplying it as fuel to the ship's engines, our clients will save distillate fuel costs and at the same time reduce the vessel's emissions of sulphur oxides (SOx) and particulate matter (PM)," said Andrew Scott, General Manager at Babcock LGE Process. "In addition, we eliminate fugitive emissions of LNG from the cargo systems, providing a true zero emissions solution."

 

"We're really pleased to have been chosen by Babcock LGE Process to work on this cutting-edge project. Babcock's boil-off-gas recovery system is an innovative way of meeting stringent emission regulations. It is a cost-effective way for vessel operators to address environmental concerns, and our TITAN® tanks are a key enabler for achieving this," said Miguel Raimao, Vice President Mobile Pipeline® Americas at Hexagon Lincoln. "TITAN® remains the industry leader for large scale Type 4 storage vessels; it's the only marine scale solution that combines lightweight with high pressure performance."

 

"This order marks our expansion of our Mobile Pipeline® solutions into high-horsepower fuel systems and the maritime application, which we see as a great future market opportunity," said Jack Schimenti, President of Hexagon Lincoln.

 

The maritime class acceptance for this project is performed by Lloyds Register.

 

 

For more information:

Jack Schimenti, President, Hexagon Lincoln LLC

Telephone: +1 402 430 3863 | jack.schimenti@hexagonlincoln.com

 

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | david.bandele@hexagon.no

 

Solveig D Saether, Communication Manager, Hexagon Composites ASA

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

 

About Babcock International Group PLC

For more than a century, Babcock has been trusted to deliver bespoke, highly-skilled engineering services. We help customers in the UK and around the world to improve the capability, reliability and availability of their most critical assets within the four market sectors of Marine, Land, Aviation, and Nuclear, underpinned by a deep understanding of technology integration, unique infrastructure, and specialist training.

 

About Hexagon Composites

Hexagon Composites delivers safe and innovative solutions for a cleaner energy future. We are adapting our leading composite pressure vessel technology for a wide range of mobility and storage applications. The energy transition towards a low-carbon society is constantly opening up exciting growth opportunities for us.

 

For more information: www.hexagon.no

 

Follow us on Twitter: @HexagonASA

 



Hexagon expanding into the maritime industry



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Hexagon Composites ASA, Postboks 836, Sentrum, Ålesund 6001, Norway
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