Clean Energy Signs Agreement with AT&T to Provide Compressed Natural Gas (CNG) Fueling Stations to Support AT&T’s Nationwid...
March 31 2010 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) has contracted with
AT&T to supply compressed natural gas (CNG) fueling stations to
support AT&T in its current commitment to deploy up to 8,000
CNG fleet vehicles nationwide. As part of a multi-year master
agreement, Clean Energy will build, operate and supply CNG stations
for AT&T’s use.
AT&T announced plans in March 2009 to invest up to $565
million as part of a long-term strategy to deploy more than 15,000
alternative-fuel vehicles through 2018. AT&T expects to spend
an estimated $350 million of that amount over five years to
purchase about 8,000 CNG vehicles. This represents the largest
corporate commitment to CNG vehicles to date.
Addressing the commitment, James Harger, Clean Energy’s Chief
Marketing Officer and Senior Vice President, said, “This action by
AT&T is a giant step forward by American business to address
the new energy needs of our nation, particularly for deploying
natural gas vehicles to help reduce imports of foreign oil and
clean our environment. Clean Energy stands ready to support this
and other fleet commitments to natural gas fuel with advanced
fueling infrastructure and services around the country.”
Jerome Webber, AT&T Vice President, Fleet Operations, said,
“Clean-burning, natural gas fuel not only makes good sense for the
environment; it makes good business sense as well. CNG provides a
strong economic advantage compared to gasoline and diesel
powered-vehicles. And because CNG is domestically sourced, it helps
reduce America’s dependence on imported oil.”
CNG vehicle fleet operators realize significant savings in their
fuel expenditures, since natural gas is typically cheaper than
gasoline or diesel fuel. In terms of clean-air performance, natural
gas produces up to 30 percent lower greenhouse gas emissions than
gasoline in light- and medium-duty vehicles. U.S. Department of
Energy reports estimate that 98% of the natural gas consumed in the
U.S. is sourced in North America, and domestic supplies are
projected to last 120 years based on current consumption
levels.
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 17,800 vehicles at 196 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
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 number of CNG vehicles that will
ultimately be deployed by AT&T and the number of fueling
stations that may be constructed by Clean Energy for AT&T.
Actual results and the timing of events could differ materially
from those anticipated in these forward-looking statements as a
result of the performance, availability and price of CNG vehicles
relative to gasoline and diesel models and unanticipated delays in
the construction and completion of the vehicle conversions or the
stations. 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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