Clean Energy Contracts with Florida-Based Saddle Creek Transportation, Inc. To Build, Operate & Maintain Major CNG Truck Fuel...
October 03 2011 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed a 10-year
contract with third-party logistics provider Saddle Creek
Transportation, Inc. (Saddle Creek) to build, operate and maintain
a new compressed natural gas (CNG) truck fueling station at Saddle
Creek’s headquarters and warehouse complex in Lakeland, Florida.
The combined fast-fill and time-fill fueling facility will support
Saddle Creek’s expanding fleet of CNG trucks.
Development of the new Saddle Creek CNG station is already
underway, with the opening projected for December 2011. Saddle
Creek expects to deploy 40 new Freightliner CNG trucks by year-end
to serve its Florida customers. An additional 40 for-hire CNG
trucks are scheduled to roll out early in 2012 and the fleet is
anticipated to grow to 120 trucks in the future. It is projected
that the first 80 trucks will use approximately 1.5 million gallons
of fuel per year.
Saddle Creek is a nationwide third-party supply chain logistics
(3PL) company integrating warehousing, for-hire transportation,
contract packaging and fulfillment services.
James Harger, Clean Energy’s Chief Marketing Officer, said,
“Investing in natural gas vehicles for its for-hire fleet as part
of the company’s commitment to sustainability makes Saddle Creek a
leader in the rapidly-growing movement to transition trucking to
natural gas to add fuel diversity, curtail harmful emissions and
reduce dependence on imported oil. They will have the largest
over-the-road CNG fleet in Florida.”
Currently priced $1.50—$2.00 per gallon lower than diesel or
gasoline (depending upon local markets), the use of natural gas
fuel reduces costs significantly for vehicle and fleet owners,
reduces greenhouse gas emissions up to 30% in light-duty vehicles
and 23% in medium to heavy-duty vehicles. Additionally, natural gas
is a secure North American energy source with 98% of the natural
gas consumed produced in the U.S. and Canada.
Clean Energy (Nasdaq: CLNE) is the largest provider of
natural gas fuel for transportation in North America and a global
leader in the expanding natural gas vehicle market. It has
operations in CNG and LNG vehicle fueling, construction and
operation of CNG and LNG fueling stations, biomethane production,
vehicle conversion and compressor technology.
Clean Energy fuels over 23,300 vehicles at 248 strategic
locations across the United States and Canada with a broad customer
base in the refuse, transit, trucking, shuttle, taxi, airport and
municipal fleet markets. Clean Energy del Peru, a joint venture,
fuels vehicles and provides CNG to commercial customers in Peru. We
own (70%) and operate a landfill gas facility in Dallas, Texas,
that produces renewable natural gas, or biomethane, for delivery in
the nation’s gas pipeline network, and we plan to build a second
facility in Michigan. We own and operate LNG production plants in
Willis, Texas and Boron, Calif. with combined capacity of 260,000
LNG gallons per day and that are designed to expand to 340,000 LNG
gallons per day as demand increases. NorthStar, a wholly owned
subsidiary, is the recognized leader in LNG/LCNG (liquefied to
compressed natural gas) fueling system technologies and station
construction and operations. BAF Technologies, Inc., a wholly owned
subsidiary, is a leading provider of natural gas vehicle systems
and conversions for taxis, vans, pick-up trucks and shuttle buses.
IMW Industries, Ltd., a wholly owned subsidiary based in Canada, is
a leading supplier of compressed natural gas equipment for vehicle
fueling and industrial applications with more than 1,200
installations in 24 countries. For more information, visit
www.cleanenergyfuels.com
Forward-Looking Statements — This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 that involve risks, uncertainties and assumptions,
including statements about the procurement and deployment of CNG
vehicles, the volume of CNG that will be consumed at the station,
the potential impact of replacing diesel and gasoline with CNG, and
the timing for completion of the station. Actual results and the
timing of events could differ materially from those anticipated in
these forward-looking statements as a result of several factors,
including the performance, availability and price of CNG trucks
relative to gasoline and diesel trucks, the price per gallon of CNG
relative to diesel and gasoline, and permitting or other delays
encountered during construction of the station. The forward-looking
statements made herein speak only as of the date of this press
release and, unless otherwise required by law, the company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
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