Hexagon Composites ASA: Expanding Global Footprint with Strategic Orders

In a series of recent developments, Hexagon Composites ASA, a Norwegian company specializing in composite pressure cylinders, has made significant strides in expanding its global presence. The company, which operates through segments like Hexagon Purus, Hexagon Mobile Pipeline & Other, and Hexagon Ragasco LPG, has recently secured pivotal orders that underscore its leadership in the compressed natural gas (CNG) and hydrogen applications sectors.

Inaugural Mobile Pipeline Order from Jordan

On August 13, 2025, Hexagon Agility, a business unit of Hexagon Composites, announced its first-ever order for Mobile Pipeline® modules from Watani, The National Advanced Natural Gas Company of Jordan. This order involves the delivery of Mobile Pipeline® ADR X-Store 45ft modules, which are designed to enhance the safe and efficient delivery of compressed natural gas (CNG) in Jordan. This strategic move aligns with Jordan’s national energy strategy, marking a significant milestone for Hexagon Agility in the Middle Eastern market.

The order, highlighted across multiple financial news platforms, represents a substantial value and is expected to bolster Hexagon’s position as a key player in the global energy transition. The collaboration with Watani not only strengthens Hexagon’s market presence in the Middle East but also showcases its capability to support national energy strategies through innovative solutions.

Major Rollout in Mexico

In another significant development, Hexagon Agility has been tasked with delivering fuel systems for 100 heavy-duty trucks in a major rollout in Mexico. This order, announced on August 12, 2025, involves collaboration with Trayecto, the largest trucking company in Mexico, and Kenworth Mexicana. The deployment of these natural gas-powered trucks is a landmark achievement for the region, highlighting Hexagon’s role as a leading provider of CNG/RNG fuel systems.

This project is not just a testament to Hexagon’s technological prowess but also its ability to forge strategic partnerships that drive regional energy transitions. The successful execution of this order is expected to pave the way for further expansions in Latin America, reinforcing Hexagon’s commitment to sustainable energy solutions.

Financial Overview

Despite these promising developments, Hexagon Composites ASA’s financial metrics present a mixed picture. As of August 11, 2025, the company’s close price stood at 18.36 NOK, with a market capitalization of 3.62 billion NOK. The company’s price-to-earnings ratio is currently at -2.397, reflecting challenges in profitability. However, the recent orders could potentially enhance future earnings and investor confidence.

The company’s stock has experienced volatility, with a 52-week high of 48.8 NOK on November 6, 2024, and a low of 15.46 NOK on June 18, 2025. These fluctuations underscore the dynamic nature of the industrial sector and the impact of strategic initiatives on market perception.

Looking Ahead

Hexagon Composites ASA’s recent orders from Jordan and Mexico are pivotal in its strategic expansion and commitment to sustainable energy solutions. As the company continues to navigate the complexities of the global energy landscape, these developments are likely to bolster its market position and drive future growth. Investors and industry observers will be keenly watching how Hexagon leverages these opportunities to enhance its financial performance and solidify its leadership in the machinery and industrial sectors.