In 2016, Agility and Hexagon’s medium- and heavy-duty CNG automotive businesses merged to create Agility Fuel Solutions, resulting in Hexagon owning 50% of Agility. Since then, the companies have delivered more than half a million cylinders and 40,000 fuel systems to customers around the world.
The latest deal, signed on 8 November and due to complete in January 2019, values Agility’s equity at US$250 million.
The two clean energy companies will drive change by promoting the use of natural gas, biogas, hydrogen, propane and electrification to a range of markets, including light-, medium- and heavy-duty vehicles.
Hexagon Composites is based in Norway, with production facilities also situated in Germany and the US.
Agility has production sites in the US and Norway, and its sales office locations include the UK.