Hexagon Composites ASA: Hexagon Agility signs exclusive long-term agreement with Iveco Bus

OSLO, Norway, July 28, 2026 /PRNewswire/ -- Hexagon Agility, a business of Hexagon Composites and the world's leading provider of compressed natural gas (CNG) fuel systems, has signed an exclusive long-term agreement with IVECO BUS, a global leader in commercial vehicles, for the delivery of CNG fuel systems for transit buses globally.

The three-year agreement covers the exclusive supply of Hexagon Agility's fuel systems and Type 4 carbon fiber cylinders across IVECO's CNG bus range. 

For 2026, annual revenues from deliveries to IVECO BUS, including deliveries under this agreement, are estimated to be EUR 20 million (approx. NOK 200 million).

IVECO is the European leader in natural gas commercial vehicles, with a leading position in sustainable public transport and a worldwide presence across Latin America, Asia Pacific, Africa and the Middle East.

"Our two-decade long collaboration with IVECO, rooted in Europe and expanding globally, continues to enable CNG and biomethane fueled buses to reduce emissions and operator costs for transit fleets," said Eric Bippus, Chief Commercial Officer, Hexagon Agility.

"Building on more than 10,000 buses delivered together, this new and extended agreement reinforces our role in supporting the continued improvement of global public transport systems."

About the market

Buses remain the backbone of public transport worldwide, accounting for approximately 48% of public transport journeys, according to the International Association of Public Transport (UITP).

Across global markets, decarbonization pathways are increasingly application- and region-specific, with fleets and authorities adopting electric, CNG, hybrid, or combination solutions, depending on the energy available to them, and their fleets performance needs.

CNG and biomethane (its drop-in renewable form) are proven, scalable solutions for public transport, delivering immediate emissions reductions and lower operating costs. In Europe, CNG and biomethane buses represented 7% of city bus registrations in 2025, rising to more than 20% in France, Greece, and Italy (T&E).

Timing
The fuel systems will be produced at Hexagon Agility's facility in Kassel, Germany. First deliveries under this agreement will start in Q3 2026.

For more information
Emily Cherry, Communications Manager, Hexagon Composites
Telephone: +47 480 90 239 | emily.cherry@hexagongroup.com

Eirik Løhre, CFO, Hexagon Composites
Telephone: +1 704 777 5171 (US eastern time zone) | eirik.lohre@hexagongroup.com 

About Hexagon Agility
Hexagon Agility, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and bulk gas transportation. Its product offerings include (renewable) natural gas bulk distribution systems of compressed gases, lightweight Type 4 composite natural gas cylinders, and (renewable) natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while lowering operating costs. Learn more at hexagonagility.com and follow @HexagonAgility on LinkedIn.

About Hexagon Composites ASA
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our solutions enable storage, transportation and conversion to clean energy in a wide range of mobility and industrial applications. Learn more at hexagongroup.com and follow @HexagonASA on LinkedIn.

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