Westport Innovations and Clean Energy Fuels Look to Benefit as Sales of Natural Gas Vehicles Steadily Rising
July 24 2012 - 8:20AM
Marketwired
Natural gas prices have been in a long slump as production has
grown dramatically in recent years as advances in technology have
unlocked vast new reserves. The country's current glut and record
low prices of the commodity have led to an increased focus on
natural gas vehicles (NGVs). A recent report from Pike research
shows that the global market for NGVs will grow at a steady pace
over the next 7 years, and reach a total of 3.2 million vehicles
sold in 2019. Five Star Equities examines the outlook for companies
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.FiveStarEquities.com/WPRT www.FiveStarEquities.com/CLNE
"While the sparse variety of available vehicle models and the
slow spread of NGV refueling infrastructure remain key concerns in
many countries, it's clear that the low cost of natural gas,
combined with geopolitical forces, will expand the market for these
vehicles," says Pike senior research analyst Dave Hurst. "Many
governments have promoted the growth of NGVs, either by offering
reduced taxes on the vehicles or by increasing investment in
refueling infrastructure."
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General Electric recently announced that they are developing an
at-home refueling station for natural gas vehicles. This could
prove to be a major breakthrough for the NGV market as one of
biggest problems for natural gas adoption has been the lack of
refueling infrastructure for public.
"The goal of our project is to design an at-home refueling
station that is much simpler in design, more cost effective and
reduces re-fueling times to under an hour. By reducing the time and
cost of re-fueling, we can break down the barriers that are
preventing more widespread adoption of NG vehicles. If we can meet
our cost targets, the price of a home refueling station would be
less than typical appliances in the home such as a dishwasher or
stove," said Anna Lis Laursen, a chemical engineer and project
leader at GE Global Research.
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