Clean Energy Fuels and Westport Innovations Look to Benefit as Access to NGV Infrastructure on the Rise
October 04 2012 - 8:20AM
Marketwired
Rising diesel costs combined with stricter emissions restrictions
have boosted the demand for natural gas vehicles (NGV) in the U.S.
According to data from the Energy Information Administration in
2011 the use of natural gas as a vehicle fuel in the U.S. has risen
7.1 percent year-over-year and nearly 40 percent since 2006. The
Paragon Report examines investing opportunities in the Alternative
Fuels Industry and provides equity research on Clean Energy Fuels
Corp. (NASDAQ: CLNE) and Westport Innovations Inc. (NASDAQ: WPRT)
(TSX: WPT).
Access to the full company reports can be found at:
www.ParagonReport.com/CLNE www.ParagonReport.com/WPRT
Some of the major obstacles in the way of widespread NGV
adoption in the U.S. have been the access to infrastructure and
costs. The Gas Technology Institute (GTI) and the Center for
Electromechanics at the University of Texas at Austin (UT-CEM) are
currently working together to develop a cost-effective at-home
natural gas refueling system. The new system would reduce the cost
of home fuelling systems from $4,000 to under $2,000. The U.S.
Department of Energy has provided a $4 million grant to fund the
project.
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The Gas Technology Institute recently introduced the FuelMule, a
mobile fast-fill compressed natural gas (CNG) fueling station for
fleets of trucks/busses, at the 2012 Republican and Democratic
National Conventions.
"This technology helps to overcome the capital investment issues
associated with building new fueling infrastructure," says Tony
Lindsay, R&D director at GTI. "In the past, there haven't been
enough NGVs to justify the high investment in building many fueling
stations, and there are too few stations to allow widespread growth
and adoption of NGVs in various fleets. This new innovation can
work to balance things out with its ability to bring fueling
capability to where it's most needed."
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