The Hexagon Group, through its subsidiary Hexagon Composites, will now be able to offer liquid natural gas (LNG) and liquid hydrogen (LH2) options after acquiring a 40% stake in Cryoshelter, an Austria-based company that specializes in the development of cryogenic tank technology.
Adding to the Hexagon Group’s compressed natural gas (CNG), renewable natural gas (RNG), compressed hydrogen, and battery-electric systems that are currently available, the ability to offer liquid storage of natural gas and hydrogen will add a new dimension for fleets.
“Cryoshelter has a potentially disruptive technology with competitive edge compared to existing technology alternatives in the market. Our goal is to aid the commercialization and industrialization of this technology,” says Jon Erik Engeset, CEO of Hexagon Composites. “This will further strengthen our efforts to drive decarbonization in the heavy-duty transport sector, support Europe and other key geographies in securing energy independence, and reinforce our position as a global leader in clean energy solutions.”
RNG, in liquid or gaseous form, is a cost-competitive fuel with the immediate potential to reduce heavy-duty trucking emissions, giving fleet owners even more options to reach their ambitious sustainability targets in the commercial transportation sector. Cryoshelter’s technology leverages this high energy density of natural gas by providing utilization of vehicle frame rail space. As a result, driving range is increased, making it comparable to diesel and offering an improved total cost of ownership.