Major Public Transit Agencies in San Diego, Las Vegas & Phoenix Significantly Expand Bus Fleets Powered by Compressed Natural...
November 17 2008 - 8:00AM
Business Wire
Public transit agencies in San Diego, CA, Las Vegas, NV and
Phoenix, AZ have undertaken major expansions of their compressed
natural gas (CNG)-powered bus fleets. Clean Energy Fuels Corp.
(Nasdaq:CLNE) currently contracts for CNG fueling services with the
San Diego Metropolitan Transit System, the Phoenix Regional Public
Transportation Authority (RPTA) and the Regional Transportation
Commission of Southern Nevada (RTC). With the addition of new CNG
buses to these three transit agency fleets, the combined fuel
requirement is anticipated to lead to an incremental increase of
approximately 2.5 million gallons per year. James Harger, Clean
Energy Senior Vice President, said, �Industry acceptance of natural
gas-fueled buses is increasingly enthusiastic and widespread. In
their moves to replace older diesel buses with new CNG models,
transit agencies tell us that lower fuel costs, reduced harmful
emissions and improved performance are key factors in their
decision to switch to natural gas power.� The San Diego
Metropolitan Transit System (MTS), operating 82 fixed bus routes
throughout San Diego County, is scheduled to deploy 26 new 60-foot
articulated CNG buses as well as 50 new 40-foot CNG buses by the
end of November, bringing the agency�s total CNG fleet to well over
400 buses. Clean Energy operates and maintains three fuel stations
for San Diego MTS. When the new buses are fully deployed, total
annual CNG fuel consumption is expected to top 6.5 million gallons.
The Regional Public Transportation Authority (RPTA) in Phoenix, AZ
is adding 51 new CNG buses to their current contingent, bringing to
132 the total number of CNG buses deployed by RPTA. Clean Energy
provides station operation and fueling service to the CNG bus
fleet, which is now projected to use more than 900,000 gallons of
fuel annually. Serving the Greater Las Vegas area, the Regional
Transportation Commission of Southern Nevada (RTC) contracts with
Clean Energy to operate and maintain two RTC transit fueling
stations. These stations currently fuel more than 50 CNG buses and
paratransit vehicles. A total of 45 new CNG buses are on order for
delivery in early 2009. When fully deployed, the fleet of 95 CNG
buses will consume up to 1.5 million gallons annually. Clean Energy
(Nasdaq:CLNE) is the leading provider of natural gas (CNG and LNG)
for transportation in North America. It has a broad customer base
in the refuse, transit, ports, shuttle, taxi, trucking, airport and
municipal fleet markets, fueling more than 14,000 vehicles daily at
over 170 strategic locations across the United States and Canada.
Clean Energy del Peru, Clean Energy�s Peruvian joint venture,
operates the world�s largest natural gas vehicle fueling station in
Lima, Peru. Please 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. Actual results and the timing
of events could differ materially from those anticipated in these
forward-looking statements, including statements made with respect
to CNG bus deployment and anticipated CNG fuel consumption. The
forward-looking statements made herein speak only as of the date of
this press release and the company undertakes no obligation to
publicly update such forward-looking statements to reflect
subsequent events or circumstances.
Clean Energy Fuels (NASDAQ:CLNE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Clean Energy Fuels (NASDAQ:CLNE)
Historical Stock Chart
From Jul 2023 to Jul 2024