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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Power Solutions International, Hexagon Agility Enter Into Master Development and Collaboration ...

August 30, 2021 GMT

WOOD DALE, Ill., Aug. 30, 2021 (GLOBE NEWSWIRE) -- Power Solutions International, Inc. (“PSI”) (OTC Pink: PSIX), a leader in the design, engineering and manufacture of emissions-certified engines and power systems, today announced that it has entered into a master development and collaboration agreement with Hexagon Agility.

Hexagon Agility is a global leader in the development, manufacturing, and supply of compressed natural gas (CNG) and liquid petroleum gas (LPG) fuel systems used in medium vehicles.

PSI manufactures and develops 6.0- and 8.8-liter alternative fuel engines for OEMs of on-road transportation vehicles such as delivery trucks, school buses and terminal tractors.

The agreement enables both companies to focus on core competencies and better respond to the ever-changing technical landscape and growing demand for low emission vehicles driven by the tightening greenhouse gas (GHG) regulations. Under the agreement, both companies will work with medium duty OEMs to provide CNG & LPG system solutions. Hexagon Agility will focus on the development and supply of CNG and LPG fuel systems and PSI will focus on the development and supply of engines and engine controls. The partnership also includes a teaming approach to proactively supporting service and service parts for CNG and LPG fleet vehicles in the field.

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“This partnership helps us to better scale our engine platform,” CEO Lance Arnett said. “By utilizing Agility’s experience with alternative fuel systems, we can focus our resources on our core engine and engine controls competence while broadening our reach into the expanding alternative fuel commercial vehicle market.”

Brad Garner, senior vice president, global customer care and technical service at Hexagon Agility, added, “This collaboration enables us to provide additional alternate fuels system options for our global OEMs to support their need for low emission vehicle offerings that enable their fleet customers to control fuel costs and meet environmental sustainability goals.”

About Power Solutions International, Inc.

Power Solutions International, Inc. (PSI) is a leader in the design, engineering, and manufacture of a broad range of advanced, emission-certified engines and power systems. PSI provides integrated turnkey solutions to leading global original equipment manufacturers and end-user customers within the energy, industrial and transportation end markets. The Company’s unique in-house design, prototyping, engineering and testing capacities allow PSI to customize clean, high-performance engines using a fuel agnostic strategy to run on a wide variety of fuels, including natural gas, propane, gasoline, diesel and biofuels.

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PSI develops and delivers powertrains purpose-built for medium-duty trucks and buses including school and transit buses, work trucks, terminal tractors, and various other vocational vehicles. In addition, PSI develops and delivers complete power systems that are used worldwide in stationary and mobile power generation applications supporting standby, prime, demand response, microgrid, and co-generation power (CHP) applications; and industrial applications that include forklifts, agricultural and turf, arbor care, industrial sweepers, aerial lifts, irrigation pumps, ground support, and construction equipment.  For more information on PSI, visit  www.psiengines.com.

About Hexagon Agility

Hexagon Agility®, a business of Hexagon Composites, is a leading global provider of clean fuel solutions for commercial vehicles and gas transportation. Its product offerings include natural gas storage and delivery systems, Type 4 composite natural gas cylinders, propane, and natural gas fuel systems. These products transport clean gaseous fuels and enable vehicles to reduce emissions while saving operating costs. Learn more at www.hexagonagility.com and follow us on social media.

Contact:

Power Solutions International, Inc.
Dan M. Dun
Director of Marketing & Communications
+1 (630) 350-9400
ddun@psiengines.com