Clean Energy Signs Contract with Hertz to Build & Operate a CNG Fueling Station at Los Angeles International Airport (LAX) to...
December 16 2010 - 12:05PM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed an agreement
with The Hertz Corporation (NYSE: HTZ) to build, operate and supply
a compressed natural gas (CNG) fueling station on Hertz-owned
property adjacent to Los Angeles International Airport (LAX). The
new Clean Energy CNG fueling facility, available 24/7 for public
access, will support the expanding Hertz fleet of clean-burning CNG
airport shuttle buses.
Hertz currently deploys CNG airport buses at its LAX location to
transport its rental car customers to and from airline
terminals.
“This new Hertz partnership will allow Clean Energy to build a
much needed second public fueling station at LAX, while providing
fuel service to a premier rental car company in the United States,”
said James Harger, Clean Energy Chief Marketing Officer. “The
transition by the airport industry and allied services from diesel
to natural gas fuel for ground transportation is accelerating
rapidly, in response to the need to curtail emissions, decrease
fuel costs, and reduce dependence on imported oil.”
“Introducing CNG shuttle buses and fueling stations to support
compressed natural gas is an integral part of Hertz’s stewardship
of the environment,” commented Mark P. Frissora, Chairman and Chief
Executive Officer, The Hertz Corporation. “Partnering with Clean
Energy reinforces our mission to minimize the environmental impact
from our operations and we’re excited to be able to support our
shuttle fleet while also allowing other airport entities access to
the CNG station.”
The Hertz LAX facility will include public access fueling
islands for local fleets of CNG taxis and shared-ride vans, plus
hotel, parking and rental car buses. A private Hertz island will be
capable of fueling its internal fleet simultaneously. Station
construction is expected to begin in March 2011 with opening slated
for early third quarter of 2011. By 2015, Hertz expects to have
transitioned its entire LAX transit bus fleet to clean, green,
domestic CNG gas power.
Clean Energy now operates a large-volume, high-traffic
LAX-adjacent public access CNG station that serves light, medium
and heavy-duty fleet vehicles in the area, including rental car
buses for Hertz. Harger said, “The addition of the new Hertz
station to our existing LAX fueling infrastructure will help Clean
Energy meet fast-growing CNG fueling demands from operators of
airport-related taxi, shared ride vans, hotel, other rental car and
private parking shuttle fleets.”
Costing less than diesel or gasoline, natural gas fuel produces
up to 30% less greenhouse gas emissions in light-duty vehicles, and
up to 23%-percent lower greenhouse gas emissions in medium to
heavy-duty applications. Department of Energy reports estimate that
98% of the natural gas consumed in the U.S. is sourced in the U.S.
and Canada.
About Clean Energy Fuels — 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 19,900 vehicles at 211 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 (70%) 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 24 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 amount of CNG sold to Hertz and
other customers at a fueling station to be constructed on Hertz’s
property. Actual results and the timing of events could differ
materially from those anticipated in these forward-looking
statements as a result of the number of CNG busses or vehicles
deployed by Hertz or other customers, the performance of the CNG
vehicles, and permitting or other delays encountered during the
construction of the station. 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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