Clean Energy Signs Agreement with Commonwealth of Virginia to Provide Natural Gas and Vehicle Conversion Services
October 02 2012 - 1:00PM
Business Wire
At a ceremony opening his annual Conference on Energy, Virginia
Governor Robert McDonnell today signed an agreement with Clean
Energy Fuels Corp. (Nasdaq: CLNE) to enable the Commonwealth and
local Virginia governmental entities to purchase Compressed Natural
Gas (CNG) from Clean Energy for their vehicle fleets. Commonwealth,
county, city, municipal and other Virginia government bodies will
be able to access special pricing for CNG fuel and services through
the state’s procurement website, eVA. Clean Energy also plans to
build CNG fueling stations and provide CNG vehicle conversions for
Commonwealth and local Virginia governments that want to take
advantage of the benefits of natural gas as a transportation
fuel.
“Not only is this good for the government and the environment,
but ultimately it will be good for consumers and the economy as
well,” said Governor McDonnell. “The infrastructure created through
this effort will be available to fuel passenger vehicles and other
commercial fleets. Through this innovative public-private
partnership we enter today, the Commonwealth, industry leaders and
innovators can work collaboratively to move state government and
private industry away from vehicles fueled by gasoline and diesel
fuel and reduce our dependence on foreign oil.”
“Through his leadership, Governor McDonnell has put Virginia on
a path to a more secure energy future,” said Mark Riley, Vice
President, Eastern Region for Clean Energy at the signing ceremony
in Richmond. “Clean Energy is honored to partner with the
Commonwealth on this ground-breaking program that will give the
Commonwealth, local governments and consumers easier and greater
access to natural gas as their fuel choice.”
Clean Energy recently opened its first CNG public-access station
in Virginia on Maury Street in downtown Richmond and expects to
open its second station adjacent to Dulles International Airport.
Both public-access stations are open 24/7 and are co-located with
Clean Energy’s partner Quarles Fuel Network. Working with
Commonwealth officials, Clean Energy expects to develop a strategic
network of CNG station locations throughout Virginia, taking
advantage of the extensive inter-state highways traversing the
Commonwealth.
Currently priced up to $1.50 a gallon lower than gasoline or
diesel depending on local markets, the use of natural gas fuel
reduces operating costs for vehicles and reduces greenhouse gas
emissions up to 30% in light-duty vehicles and 23% in medium to
heavy-duty vehicles. The U.S. Department of Energy reports that 98%
of the natural gas consumed in the U.S. is sourced in the U.S. and
Canada, making natural gas a secure North American energy
choice.
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 and construction and operation of natural
gas fueling stations. Wholly-owned subsidiaries include BAF
Technologies, which provides natural gas vehicle systems and
conversions for taxis, vans, pick-up trucks and shuttle buses; IMW
Industries, Ltd., which supplies CNG equipment for vehicle fueling
and industrial applications worldwide; NorthStar, which supplies
LNG and liquefied to compressed natural gas fueling system
technologies and equipment, station construction and operations;
and Clean Energy Renewable Fuels (CERF), which develops renewable
natural gas (RNG), or biomethane, production facilities in the U.S.
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 building CNG fueling stations and
providing CNG vehicle conversions and CNG transportation fuel for
Commonwealth and local Virginia governments, developing a strategic
network of CNG stations locations throughout Virginia and the
benefits of natural gas relative to gasoline or diesel. 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 performance,
availability and cost of natural gas vehicles relative to gasoline
and diesel vehicles, permitting or other delays encountered during
the identification of locations for, and the construction of,
natural gas fueling stations, and the price per gallon of natural
gas fuel relative to diesel and gasoline. 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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