Clean Energy and Mansfield Form Mansfield Clean Energy Partners Joint Venture to Serve Bulk Fuel Hauling Market
September 16 2014 - 6:01AM
Business Wire
Clean Energy Fuels Corp. (NASDAQ: CLNE) and Mansfield Energy
Corp. today announced the formation of Mansfield Clean Energy
Partners (MCEP), a joint venture which will provide natural gas
fueling solutions to bulk fuel haulers in the United States, a
segment that consumes over three billion gallons of fuel every
year. Ira G. Pearl, a veteran of the natural gas industry, has been
tapped to lead the Mansfield Clean Energy Partners team.
MCEP’s first customer will be Mansfield Oil Company, one of the
nation’s largest providers of transportation fuel, which has
deployed the first of its recently-purchased 12 heavy-duty
compressed natural gas (CNG) trucks to haul diesel and gasoline for
its customers. This fleet of CNG trucks will fuel at a new Atlanta,
Ga., area card-lock natural gas station available to fleets
throughout the region. The station was built by Clean Energy and
forecasted to open by November 2014. A second natural gas fueling
station in Tampa, Fla., which will support additional Mansfield CNG
trucks as well as other regional and national bulk fuel haulers, is
expected to open in early 2015.
“As a family-owned company, Mansfield is committed to
responsibly operating within the communities where we do business,”
said Michael Mansfield, CEO of Mansfield. “Creating this
partnership with Clean Energy and deploying natural gas trucks is
preparing us for the future and will allow other bulk fuel haulers
to take advantage of the benefits of clean-burning natural
gas.”
“The deep relationships Mansfield has built with America’s bulk
fuel haulers are virtually un-paralleled,” said Andrew J.
Littlefair, president and CEO of Clean Energy. “Our joint sales
forces will leverage these relationships and Clean Energy’s natural
gas fueling expertise to offer the critical market segment of bulk
fuel haulers the best natural gas fueling solutions on the
market.”
MCEP is in advanced discussions with several bulk fuel trucking
companies, representing potentially over 100 new heavy-duty CNG
trucks. To support these Class 8 natural gas trucks, MCEP will
develop new public-access natural gas fueling stations throughout
the United States in addition to the Atlanta and Tampa
facilities.
Mansfield is uniquely positioned to serve the bulk fuel hauling
market because of the Company’s over half-century experience in the
refined fuel products supply chain and its deep relationships in
this business. Clean Energy has built more natural gas stations
than any other company in the United States including almost 100
stations which are currently opened and can accommodate Class 8
tractors.
Natural gas fuel costs up to $1.50 less per gallon than gasoline
or diesel, depending on local market conditions. The use of natural
gas fuel not only reduces operating costs for vehicles, but also
reduces greenhouse gas emissions up to 30% in light-duty vehicles
and 23% in medium to heavy-duty vehicles. In addition, nearly all
natural gas consumed in North America is produced domestically.
About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading provider
of natural gas fuel for transportation in North America. We build
and operate compressed natural gas (CNG) and liquefied natural gas
(LNG) fueling stations; manufacture CNG and LNG equipment and
technologies for ourselves and other companies; develop renewable
natural gas (RNG) production facilities; and deliver more CNG, LNG
and Redeem RNG fuel than any other company in the U.S. For more
information, visit www.cleanenergyfuels.com.
About Mansfield
Ranked as one of the Top 50 privately held companies in America
by Forbes magazine, Mansfield defines the next generation
transportation fuels company. Founded in 1957, the company has
achieved double-digit growth for three decades by focusing on
optimizing and controlling fuel-related costs for its customers
using innovation, technology and high touch service. Mansfield’s
corporate headquarters is located in Gainesville, GA, with regional
operations centers located in Mark, Illinois, Detroit, Denver, Loma
Linda, California, Houston, Calgary and renewable energy operations
in Bloomington, MN. For more information, visit
www.mansfieldoil.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 without limitation
statements about the number of trucks expected to be deployed and
the amount of natural gas fuel expected to be consumed by Mansfield
Oil Company and other bulk fuel hauling companies, the benefits of
natural gas relative to gasoline and diesel, and construction of
stations in Atlanta, GA, Tampa, FL, and other locations. 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, without limitation, the price of
natural gas relative to gasoline and diesel, the cost and operating
experience associated with natural gas trucks, and permitting and
other factors affecting construction. 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.
Additionally, the reports and other documents the Company files
with the SEC (available at www.sec.gov) contain risk factors, which
may cause actual results to differ materially from the
forward-looking statements contained in this news release.
Clean EnergyPatric Rayburn, 949-437-1411
(media)patric.rayburn@cleanenergyfuels.comorTony Kritzer,
949-437-1403
(investors)tkritzer@cleanenergyfuels.comorMansfieldKristin
Sanderson, 678-450-2119 (media)ksanderson@mansfieldoil.com
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