Clean Energy Signs Strategic Partnership with Saddle Creek Corp. to Develop Natural Gas Fueling Stations at Saddle Creek 3PL ...
March 19 2012 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed a 10-year
strategic partnership agreement with Saddle Creek Corporation, a
leading logistics services provider, to build natural gas fueling
stations at existing Saddle Creek locations in support of Saddle
Creek’s expanding natural gas-powered truck fleet.
Saddle Creek is a nationwide third-party supply chain logistics
(3PL) company that integrates transportation, warehousing, contract
packaging and fulfillment services. The company operates 29
facilities across the country, which aggregate over 14 million
square feet of warehousing space.
The first of Saddle Creek’s planned network of natural gas
fueling stations opened in December at the company’s headquarters
campus in Lakeland, Florida. Designed to fuel up to 120 CNG trucks
per day, it is equipped with four fast-fill pumps and 20 time-fill
hoses. Other sites under consideration include Saddle Creek
locations in Atlanta, Georgia, Charlotte, North Carolina, and
Dallas, Texas.
James Harger, Chief Marketing Officer, Clean Energy, said, “We
are proud to partner with Saddle Creek, an environmental leader
within the freight community, on this natural gas station
development effort. Investing in natural gas vehicles for its
fleets, and the fuel stations to supply them, is clear evidence of
Saddle Creek’s commitment to help the supply chain trucking
industry lower fuel costs, curtail harmful emissions, and reduce
dependence on imported oil.”
Mike DelBovo, President, Saddle Creek Transportation, said,
“Sustainability is a core strategy at Saddle Creek, and this major
new station-building agreement with Clean Energy marks a
significant milestone in our efforts to transition our truck fleets
to natural gas power. Our aim is to provide the benefits of this
clean, cost-efficient, abundant domestic fuel to our shipping
industry customers across the nation.”
Currently priced up to $1.50 or more per gallon lower than
diesel fuel, depending on market conditions, the use of natural gas
fuel reduces costs significantly for vehicle and fleet owners, and
lowers greenhouse gas emissions up to 23% in medium to heavy-duty
vehicles. Additionally, natural gas is a secure North American
energy source, with 98% of the natural gas consumed produced in the
U.S. and Canada.
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 fueling market. We have
operations in compressed natural gas (CNG) and liquefied natural
gas (LNG) vehicle fueling; construction and operation of natural
gas fueling stations; compressor equipment and technology;
biomethane production; and vehicle conversion. We fuel over 530
fleet customers and 25,000 vehicles daily at more than 273
strategic locations across the country with a broad customer base
in the refuse, transit, trucking, shuttle, taxi, airport and
municipal fleet markets.
We are building America’s Natural Gas Highway™, a network
comprised initially of 150 planned LNG truck fueling stations
connecting major freight trucking corridors across the country.
IMW Industries, Ltd., a wholly owned subsidiary, is a
global supplier of compressed natural gas equipment for vehicle
fueling and industrial applications with more than 1,200
installations in 25 countries. NorthStar, a wholly owned
subsidiary, is the recognized leader in LNG/LCNG (liquefied to
compressed natural gas) fueling system technologies and equipment,
station construction and operations. It has built 70% of the LNG
fueling stations in the United States. 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. It has converted more than 15,000 vehicles.
Clean Energy Renewable Fuels (CERF), a wholly owned
subsidiary, is developing renewable natural gas (RNG) or biomethane
production facilities in the United States. CERF owns (70%) and
operates a landfill gas facility in Dallas, Texas that produces RNG
for delivery in the nation’s gas pipeline network for power
generation and transportation fuel. CERF is building a second
facility in Canton, Michigan, and has contracted for a third in
North Shelby, Tennessee. We own and operate LNG production plants
in Willis, Texas and Boron, California 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. For more
information, 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 deployment of natural gas vehicles,
Saddle Creek’s plans to build a network of fueling stations, and
the benefits of natural gas relative to diesel fuel. 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, but not limited to the price per gallon
of LNG relative to diesel and gasoline, and permitting or other
delays encountered during construction. The forward-looking
statements made herein speak only as of the date of this press
release and, unless otherwise required by law, the company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
Additionally, the reports and other documents the Company files
with the SEC (available at www.sec.gov) contain risk factors, which
may cause actual results to differ materially from the
forward-looking statements contained in this news release.
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