Westport Innovations and Clean Energy Fuels Look to Benefit as Natural Gas Vehicles Sales Predicted to Rise
June 07 2012 - 8:20AM
Marketwired
The natural gas vehicle market in the U.S. has been gain momentum
in 2012 as high gasoline prices have led to an increased focus on
alternative fuels. The U.S., which accounts for less than 1 percent
of world's natural gas vehicle market, is expected to see rapid
growth as a result of their vast supply of natural gas. The Paragon
Report examines investing opportunities in the Alternative Fuels
Industry and provides equity research on Westport Innovations Inc.
(NASDAQ: WPRT) (TSX: WPT) and Clean Energy Fuels Corp. (NASDAQ:
CLNE).
Access to the full company reports can be found at:
www.ParagonReport.com/WPRT www.ParagonReport.com/CLNE
According to the organization Natural Gas Vehicles for America
there are about 120,000 natural gas vehicles (NGV) on U.S. roads
and more than 14.8 million worldwide. The number of NGV fuelling
stations in the U.S., roughly 1,000, is expected to increase
significantly over the next 2 years. Global NGV sales are predicted
to increase at a compound annual growth rate of 7.9 percent to
total 19.9 million vehicles by 2016 according to Pike Research.
Paragon Report releases regular market updates on the
Alternative Fuels Industry so investors can stay ahead of the crowd
and make the best investment decisions to maximize their returns.
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Westport Innovations, a global leader in natural gas engines,
has signed agreements with Caterpillar Inc. to co-develop natural
gas technology for off-road equipment, including mining trucks and
locomotives. Caterpillar and Westport will combine technologies and
expertise, including Westport High Pressure Direct Injection (HPDI)
technology and Caterpillar's industry-leading off-road engine and
machine product technology, to develop the natural gas fuel
system.
Clean Energy is the largest provider of natural gas fuel for
transportation in North America and is a global leader in the
expanding natural gas vehicle market. Gallons Delivered for the
first quarter of 2012 totaled 43.7 million gallons, up 23% from
35.5 million gallons delivered in the same period a year ago. The
Company defines Gallons Delivered as its compressed natural gas
(CNG), liquefied natural gas (LNG), renewable natural gas (RNG) and
the gallons associated with providing operations and maintenance
services delivered to its customers during the period.
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