Worthington Industries Inc. announced that it has acquired a majority interest in dHybrid Systems, a designer and manufacturer of compressed natural gas (CNG) fuel systems. Worthington will own 80% of the equity, with the founder retaining 20% and continuing in a leadership role.
“The acquisition of dHybrid gives us the opportunity to increase our participation in the fast growing CNG fuel market and enhance the value of our supply chain offering,” said Andrew Billman, president of the Worthington Industries Pressure Cylinders business. “We expect the combination of dHydrid’s innovative system designs and Worthington’s commercial and manufacturing capabilities to help drive significant growth for this portion of our alternative fuel platform.”
“As a result, we are also analyzing the expansion of our composite cylinder manufacturing capacity, including the potential to integrate this new capacity within the fuel systems operation,” Billman added. “We expect this approach to increase operational efficiencies and reduce customer lead times.”
Based in Salt Lake City, Utah, dHybrid Systems operates in a 50,000-sq. ft. facility with 28 employees. According to dHybrid Systems, the main markets for the CNG fuel systems are refuse and heavy duty trucks.
