Certarus Announces Largest Single Order of MSUs
TORONTO–(BUSINESS WIRE)–Certarus, Superior Plus Corp.’s (“Superior”) low carbon energy solutions business, (TSX: SPB), announces it has placed an order for USD $54 million of Mobile Storage Units (“MSUs”) with longtime partner, Hexagon Agility (“Hexagon“), a business of Hexagon Composite. This is the single largest order of MSUs ever placed with Hexagon with deliveries expected to commence in Q1 2024.
As the industry leader in on-road low carbon energy distribution, Certarus enables customers without pipeline access to transition to lower carbon energy, including compressed natural gas (“CNG”), renewable natural gas (“RNG”), and hydrogen to help rapidly drive decarbonization efforts.
“We are continuing to invest to enable the adoption of low carbon fuels with the use of Hexagon’s next generation TITAN modules,” said Curtis Philippon, President of Certarus. “With the Superior transaction now complete, we are aggressively investing to grow as customer urgency to reduce emissions and secure reliable portable energy in a cost-effective manner accelerates. The TITAN modules have been the backbone of our fleet and we are excited to expand our operations with the new TITAN 450 that will allow us to deliver more gas with fewer trips.”
The new MSUs will be used by Certarus to transport CNG, RNG and hydrogen to decarbonize industrial applications, provide critical utility support during demand peaks and pipeline outages, and connect RNG production facilities to natural gas pipelines.
About Superior Plus
Superior is a leading North American distributor of propane, compressed natural gas, renewable energy and related products and services, servicing approximately 936,500 customer locations in the U.S. and Canada. Through its primary businesses, propane distribution and CNG, RNG and hydrogen distribution, Superior safely delivers clean burning fuels to residential, commercial, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon intensive fuels, Superior is a leader in the energy transition and helping customers lower operating costs and improve environmental performance.
Forward-Looking Information
This news release contains certain forward-looking information and statements based on Superior’s current expectations, estimates, projections and assumptions in light of its experience and perception of historical trends. In this news release, such forward-looking information and statements can be identified by terminology such as “will”, “expects”, and similar expressions.
In particular, this news release contains forward-looking statements and information relating to: the future delivery of MSUs and expected timing of such delivery and the expected use of such MSUs. These forward-looking statements are being made by Superior based on certain assumptions that Superior has made in respect thereof as at the date of this news release regarding, among other things: the success of Superior’s operations; prevailing commodity prices, margins, volumes and exchange rates; that Superior’s future results of operations will be consistent with past performance and management expectations in relation thereto; the continued availability of capital at attractive prices to fund future capital requirements; future operating costs; that any required commercial agreements can be reached; that all required regulatory and environmental approvals can be obtained on the necessary terms promptly and that Superior’s counterparties perform their obligations under supply and other commercial contracts. These forward-looking statements are not guarantees of future performance and are subject to several known and unknown risks and uncertainties, including, but not limited to: the regulatory environment and decisions; non-performance of agreements in accordance with their terms; the impact of competitive entities and pricing; reliance on key industry partners and agreements; actions by governmental or regulatory authorities including changes in tax laws and treatment, or increased environmental regulation; adverse general economic and market conditions in Canada, North America and elsewhere; fluctuations in operating results; labour and material shortages; and certain other risks detailed from time to time in Superior’s public disclosure documents including, among other things, those detailed under the heading “Risk Factors” in Superior’s management’s discussion and analysis and annual information form for the year ended December 31, 2022, which can be found at www.sedar.com.
Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected. Such forward-looking statements are expressly qualified by the above statements. Superior does not undertake any obligation to publicly update or revise any forward looking statements or information contained herein, except as required by applicable laws.
Contacts
Superior Plus Corp.
Website: www.superiorplus.com
E-mail: investor-relations@superiorplus.com
Toll-Free: 1-866-490-PLUS (7587)
Beth Summers, Executive Vice President and CFO
Tel: (416) 340-6015
Rob Dorran, Vice President, Capital Markets
Tel: (416) 340-6003
