Clean Energy Contracts with National Grid to Assume Management of 13 Existing Retail CNG Fuel Stations in New York, Massachus...
March 25 2010 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) has contracted with
National Grid (NYSE: NGG, LSE: NG), an international energy
delivery company, to assume the management of 13 existing
National-Grid owned compressed natural gas (CNG) retail vehicle
fueling stations in New York, Massachusetts and Rhode Island.
Under the terms of the management agreement, Clean Energy will
operate and maintain the National Grid stations, sell CNG to third
parties, upgrade the onsite equipment to increase vehicle fueling
capacity for the growth of the National Grid CNG truck fleet, and
work together with National Grid to continue the growth of the CNG
vehicle market.
Four of the stations are located in New York City and four are
located on Long Island; three are in Massachusetts; and two are in
Rhode Island. The agreement provides the ability to maintain or
improve the high levels of service to third party vehicle fleets
and provides National Grid with a consistent approach to station
maintenance and operations throughout the National Grid
territory.
“These facilities are important strategic fueling locations for
CNG vehicles that are being deployed in large numbers by area
refuse operators, local trucking firms, and New York taxi, black
car and shuttle customers,” said James Harger, Chief Marketing
Officer, Clean Energy.
The retail CNG stations in Massachusetts and Rhode Island —
located in the greater Boston, Cape Cod, and Providence areas —
represent Clean Energy’s entry into the retail CNG market in these
states. National Grid supplies the natural gas used to produce CNG
onsite at the stations. Fuel requirements exceed the equivalent of
750,000 gallons of gasoline a year.
“CNG is a cleaner, greener option for customers to fuel their
vehicles. Operating a fleet of CNG vehicles provides economic
benefits for a fleets’ bottom line, while improving our country’s
energy security,” said National Grid’s Executive Vice President for
US Gas Distribution, Nickolas Stavropoulos. “We agreed to contract
with Clean Energy after an extensive process of review and
analysis, and took into account their qualifications, experience
and resources in this field. We look forward to working with them
to help our existing customers increase their cleaner transport
options, as well as potential new customers who want to reduce
their carbon footprint.”
“The formation and continued development of this CNG station
network is a direct response to the growing demand for clean, green
natural gas fuel that we have observed in the Northeast region, as
fleet operators deploy increasing numbers of CNG vehicles,” noted
Harger.
“We expect to officially take over station management
responsibilities from National Grid in the early spring this year
with the implementation of a thorough transition plan for the
customers,” he added.
About Clean Energy
Clean Energy 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 17,500
vehicles at 195 strategic locations across the United States and
Canada. Clean Energy owns and operates two LNG production plants,
one in Willis, TX and one in Boron, CA, with combined capacity of
260,000 LNG gallons per day and designed to expand to 340,000 LNG
gallons per day as demand increases. It also owns and operates a
landfill gas facility in Dallas, TX that produces renewable methane
gas (or biomethane) for delivery in the nation’s gas pipeline
network. Clean Energy also owns BAF Technologies, Inc. of Dallas,
TX, a leading provider of natural gas vehicle systems and
conversions for taxis, limousines, vans, pick-up trucks and shuttle
buses. Please visit www.cleanenergyfuels.com.
About National Grid
National Grid is an international energy delivery company. In
the U.S., National Grid delivers electricity to approximately 3.3
million customers in Massachusetts, New Hampshire, New York and
Rhode Island, and manages the electricity network on Long Island
under an agreement with the Long Island Power Authority (LIPA). It
is the largest distributor of natural gas in the northeastern U.S.,
serving approximately 3.4 million customers in Massachusetts, New
Hampshire, New York and Rhode Island. National Grid also owns over
4,000 megawatts of contracted electricity generation that provides
power to over one million LIPA customers. More information
available at www.nationalgrid.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 volume of gasoline gallon
equivalents of CNG fuel sold at the stations and the time frame in
which Clean Energy will take over station management
responsibilities from National Grid. Actual results and the timing
of events could differ materially from those anticipated in these
forward-looking statements as a result of administrative delays in
transferring station management responsibility, availability and
performance of CNG vehicle fleets in the vicinity of the station
network and the availability of tax incentives or other regulatory
incentives for the sale and use of natural gas vehicles or natural
gas fuel. 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.
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