L.A. METRO Public Transit Agency Contracts with Clean Energy to Operate & Maintain CNG Fueling Facilities in Four Agency Divi...
October 29 2010 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq:CLNE) has secured a new 10-year
contract from the L.A. County Metropolitan Transportation Authority
(METRO) to operate CNG facilities that fuel METRO CNG buses
deployed in the agency’s Downtown Los Angeles, San Gabriel Valley,
South Bay and Westside Divisions.
Clean Energy will have sole responsibility to operate and
maintain all 10 of METRO’s CNG facilities that supply the METRO
fleet with 40 million gallons of CNG fuel annually when the
transition is complete.
Earlier this year METRO awarded three other station contracts to
Clean Energy, which affected six of METRO’s CNG fueling facilities
located throughout the agency’s 1,433-square mile service area.
“METRO currently deploys America’s largest CNG-powered clean air
transit bus fleet,” said Andrew J. Littlefair, Clean Energy’s
President and CEO. “METRO’s 2,500 CNG buses comprise 95% of its
overall transit bus fleet. We are honored by the opportunity METRO
has given Clean Energy to assume overall responsibility for
supporting their entire CNG bus fleet. They are the clear leader
today among U.S. transit operators that are taking accelerated
action to operate bus fleets on clean-burning, cost-effective CNG
power.”
According to the California Energy Commission, natural
gas-powered transit buses reduce greenhouse gas emissions by up to
23% compared to conventional diesel-powered models. Natural gas
fuel costs significantly less, on average, than diesel fuel.
METRO deploys buses on 191 fixed routes with nearly 16,000 bus
stops in Greater Los Angeles County. More than 9.6 million people —
nearly one-third of California's residents — live and work in L.A.
County. In fiscal year 2010, passenger boardings of METRO buses
totaled more than 366 million.
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 18,300 vehicles at more than 200
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. It owns and operates a
landfill gas facility in Dallas, Texas, that produces renewable
methane gas, or biomethane, for delivery in the nation’s gas
pipeline network. It owns and operates 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. BAF Technologies, Inc., a
wholly owned subsidiary, is a leading provider of natural gas
vehicle systems and conversions for taxis, limousines, 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 1,000 installations in over 20
countries. (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 volume of CNG fuel that will be
consumed at the L.A. Metro stations once the transition is
complete. Actual results and the timing of events could differ
materially from those anticipated in these forward-looking
statements as a result of unanticipated delays in the transition
process, any decline in the bus service offered or used in the L.A.
Metro system or delays in deployment of CNG busses. 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