Tue 16, Oct 2018
This is the third automotive company which has committed to Hexagon Composites as supplier for composite hydrogen tanks.
The company is currently working towards fulfilling the demands of tanks to support anticipated production activities as early as 2020. The production is planned to run for minimum five years. As per the composite cylinder specialist, the combined value for development and serial production to be in the range of USD 50 to 70 million.
"This is a major contract for Hexagon and for the growing FCEV industry. Hexagon Composites is committed to investing resources into the success of this project and for the adoption of Hydrogen in combination with fuel-cell technology as a low-carbon alternative fuel for mobility applications. This selection further confirms our leading position as a light duty hydrogen tank developer for the FCEV industry.", said Rick Rashilla, Senior Vice President of Hexagon Composites' Hydrogen Automotive business.
"We are pleased to secure yet another major contract from a leading OEM and maintaining market leadership based on our integrity, attention to safety and delivering to customer specifications. By receiving our third serial production commitment, it cements the value proposition and long-term potential we see in the hydrogen space", said Jack Schimenti, Executive Vice President of Hexagon Composites.
As per Hexagon, the life cycling properties of all-composite pressure cylinders, with plastic liners and carbon fiber structure, are better alternatives than metal lined cylinders. It makes it easier to store hydrogen, which is a clean and safe fuel, with a wide range of application.
News and Image Source: Hexagon Composites