NEWARK, N.J., Aug. 11, 2011 /PRNewswire/ -- To support the
growing demand for natural gas-fueled refuse vehicles in
New Jersey, Clean Energy Fuels
Corp. (Nasdaq: CLNE) and Covanta Essex, a subsidiary of Covanta
Energy Corporation (NYSE: CVA), have been awarded a contract by the
Port Authority of New York and
New Jersey to site, build, and
operate a compressed natural gas (CNG) fueling station at the Essex
County Resource Recovery Facility in Newark, NJ.
The CNG fueling station, to be built and operated by Clean
Energy on the Covanta Essex site, will be a convenient and
effective way for public and private municipal waste haulers to
convert their fleets of diesel vehicles to cleaner, more economical
and more efficient compressed natural gas vehicles. Natural gas
refuse trucks provide significant reductions in emissions, are 90%
quieter than traditional diesel trucks and displace the use of oil
on a gallon-for-gallon basis.
"The deployment of natural gas-fueled refuse trucks is a win-win
for the resource recovery facility and for the communities it
serves, providing a greener collection process and reducing overall
costs," said Mark Riley, general
manager, Eastern U.S. for Clean Energy. "We are pleased to be able
to support the region with this valuable fueling resource."
Covanta Essex operates the Essex County Resource Recovery
Facility (ECRRF), which is owned by the Port Authority of
New York and New Jersey. The ECRRF is an
Energy-from-Waste (EfW) facility, located off the New Jersey
Turnpike at Exit 15E in Newark,
NJ, which generates approximately 500,000 megawatt hours of
clean, renewable energy from municipal solid waste per year, while
also recycling about 15,000 tons of metal. The facility
reduces the need for over 350,000 tons of coal that would be needed
to create the same amount of electricity and offsets 900,000 tons
of greenhouse gases annually. This is possible due to the avoidance
of methane from landfills, the offset of greenhouse gases from
fossil fuel electrical production, and the recovery of metals for
recycling.
"Covanta Essex is pleased to help in the conversion of refuse
trucks to cleaner, more efficient technologies like natural gas,"
said Hank Asher, Covanta Essex
business manager. "Providing a cleaner fuel for trucks delivering
municipal solid waste to our facility is a perfect complement to
what we do here: generating clean, renewable energy. Covanta Essex
is committed to supporting ventures like this and others to limit
any adverse impacts to the environment and our community."
Construction of the new fueling station is expected to commence
during the third quarter of 2011. The project is being partially
funded by a grant from the New Jersey Clean Cities Coalition
(www.njcleancities.org), a tax-exempt 501(c)(3) nonprofit
organization for the promotion of the development and use of
alternative fuels, alternative fuel vehicles, and the appropriate
related infrastructure. This project is part of a larger grant
award from the U.S. Department of Energy using funding provided by
the American Reinvestment and Recovery Act.
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 liquefied natural gas
("LNG") vehicle fueling, construction and operation of CNG and LNG
fueling stations, biomethane production, vehicle conversion and
compressor technology.
Clean Energy fuels over 22,700 vehicles at 238 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. Clean Energy del Peru, a joint venture, fuels vehicles and
provides CNG to commercial customers in Peru. We own (70%) and operate a landfill gas
facility in Dallas, Texas, that
produces renewable natural gas, or biomethane, for delivery in the
nation's gas pipeline network, and we plan to build a second
facility in Michigan. We own and
operate 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. NorthStar, a wholly
owned subsidiary, is the recognized leader in LNG/LCNG (liquefied
to compressed natural gas) fueling system technologies and station
construction and operations. BAF Technologies, Inc., a wholly owned
subsidiary, is a leading provider of natural gas vehicle systems
and conversions for taxis, 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 1,200 installations in 24 countries.
www.cleanenergyfuels.com
Clean Energy 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 demand for and
procurement of CNG refuse vehicles, the use of the station by
refuse fleets, the funding of the station by New Jersey Clean
Cities Coalition and the timing for commencement of construction of
the station. Actual results and the timing of events could differ
materially from those anticipated in these forward-looking
statements as a result of several factors, including the
performance, availability and price of CNG refuse trucks relative
to gasoline and diesel refuse trucks, the price per gallon of CNG
relative to diesel and gasoline, Clean Energy's performance of its
obligations under the grant contract with the New Jersey Clean
Cities Coalition and permitting or other delays encountered during
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.
About Covanta
Covanta Energy Corporation is an internationally recognized
owner and operator of large-scale Energy-from-Waste and renewable
energy projects and a recipient of the Energy Innovator Award from
the U.S. Department of Energy's Office of Energy Efficiency and
Renewable Energy. Covanta's 44 Energy-from-Waste facilities
provide communities with an environmentally sound solution to their
solid waste disposal needs by using that municipal solid waste to
generate clean, renewable energy. Annually, Covanta's modern
Energy-from-Waste facilities safely and securely convert
approximately 20 million tons of waste into 9 million megawatt
hours of clean, renewable electricity and create more than 9
billion pounds of steam sold to a variety of industries. For more
information, visit www.covantaenergy.com.
Covanta Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release may constitute
"forward-looking" statements as defined in Section 27A of the
Securities Act of 1933 (the "Securities Act"), Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act"), the Private
Securities Litigation Reform Act of 1995 (the "PSLRA") or in
releases made by the Securities and Exchange Commission ("SEC"),
all as may be amended from time to time. Such forward-looking
statements involve known and unknown risks, uncertainties and other
important factors that could cause the actual results, performance
or achievements of Covanta and its subsidiaries, or general
industry or broader economic performance in global markets in which
Covanta operates or competes, to differ materially from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Statements that are not
historical fact are forward-looking statements.
Forward-looking statements can be identified by, among other
things, the use of forward-looking language, such as the words
"plan," "believe," "expect," "anticipate," "intend," "estimate,"
"project," "may," "will," "would," "could," "should," "seeks," or
"scheduled to," or other similar words, or the negative of these
terms or other variations of these terms or comparable language, or
by discussion of strategy or intentions. These cautionary
statements are being made pursuant to the Securities Act, the
Exchange Act and the PSLRA with the intention of obtaining the
benefits of the "safe harbor" provisions of such laws.
Covanta cautions investors that any forward-looking
statements made by Covanta are not guarantees or indicative of
future performance. Important assumptions and other important
factors that could cause actual results to differ materially from
those forward-looking statements with respect to Covanta, include,
but are not limited to, the risk that Covanta may not successfully
close its announced or planned acquisitions or projects in
development and those factors, risks and uncertainties that are
described in periodic securities filings by Covanta with the SEC.
Although Covanta believes that its plans, intentions and
expectations reflected in or suggested by such forward-looking
statements are reasonable, actual results could differ materially
from a projection or assumption in any forward-looking statements.
Covanta's future financial condition and results of
operations, as well as any forward-looking statements, are subject
to change and inherent risks and uncertainties. The forward-looking
statements contained in this press release are made only as of the
date hereof and Covanta does not have or undertake any obligation
to update or revise any forward-looking statements whether as a
result of new information, subsequent events or otherwise, unless
otherwise required by law.
SOURCE Covanta Energy Corporation