Clean Energy and Covanta Open First CNG Fueling Station in Nationwide Partnership to Transition Garbage Truck Fleets to Clean...
June 05 2013 - 10:15AM
Marketwired
Clean Energy Fuels Corp. (NASDAQ: CLNE) and Covanta Energy
Corporation (NYSE: CVA), a world leader in sustainable waste
management and renewable energy, hosted opening ceremonies today in
Newark, N.J. for the first compressed natural gas (CNG) fueling
station built as part of a nationwide partnership between the two
companies to expand the CNG fueling infrastructure across the
country.
The new station, built and maintained by Clean Energy onsite at
Covanta's energy-from-waste facility located in Newark, N.J., will
supply CNG fuel to refuse trucks serving communities and businesses
in Northern New Jersey and New York City. CNG fueling, combined
with Covanta's energy-from-waste facility, which processes
post-recycled municipal solid waste into clean, renewable
electricity, creates a compelling economic and
environmentally-friendly refuse management model the two companies
plan to replicate across the United States.
Senior government officials, business executives and community
leaders attended the grand opening ceremonies, which took place at
the Covanta Essex Resource Recovery Facility at 66 Blanchard Street
in Newark's East Ward.
"Our overriding mission is to set a national standard for urban
transformation -- a goal that includes improving environmental
quality through transitioning to clean energy fuels for city
vehicle fleets," said Newark Mayor Booker. "To this end, we are
moving forward with a major program to replace our existing fleet
of diesel-powered garbage trucks and street sweepers with new
cleaner-operating CNG-fueled trucks. Our new fleet will fuel up
here at the Clean Energy/Covanta natural gas fueling station that
officially opens today."
"Today we celebrate the first station developed by our
partnership with Covanta that we expect to bring cleaner and
cheaper energy to the Northern New Jersey area," said Andrew J.
Littlefair, president and CEO, Clean Energy. "This partnership is
expected to enable more fleets and customers around the country to
take advantage of the economic benefits of natural gas while
reducing their carbon footprint in the community -- a true
win-win."
Anthony Orlando, president and CEO, Covanta Energy, commented,
"Covanta is proud to partner with Clean Energy and the New Jersey
Clean Cities Coalition in the installation of the new fueling
station at our Energy-from-Waste Facility. CNG is the perfect
complement to our work in converting post-recycled waste into clean
electricity. This new CNG station is an important step in building
out necessary infrastructure to support the transition to modern
fleets of garbage trucks fueled by natural gas and that transition
will provide economic and environmental benefits to the communities
we serve."
Recovering energy from residual waste left over after recycling
at energy-from-waste facilities like Covanta Essex offsets
greenhouse gases and produces much needed renewable energy; reduces
landfill use which preserves open space; protects the environment
by employing state-of-the-art equipment and systems; and maximizes
recycling and the reuse of resources.
This Clean Energy and Covanta CNG fueling station project is
partially funded by a U.S. Department of Energy Federal Stimulus
Grant through the New Jersey Clean Cities Coalition, a non-profit
organization that works to educate the public about the
environmental benefits of switching to vehicles powered by
alternative fuels.
Natural gas fuel costs up to $1.50 less per gallon than gasoline
or diesel, depending on local market conditions. The use of natural
gas fuel not only reduces operating costs for vehicles, but also
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.
About Covanta Energy Covanta Energy
Corporation (NYSE: CVA) is an internationally recognized owner of
large-scale Energy-from-Waste and renewable energy projects and a
recipient of the Energy Innovator Award from the U.S. Department of
Energy's Office of Energy Efficiency and Renewable Energy.
Covanta's 44 Energy-from-Waste facilities provide communities with
an environmentally sound solution to their solid waste disposal
needs by using that municipal solid waste to generate clean,
renewable energy. Annually, Covanta's modern Energy-from-Waste
facilities safely and securely convert 20 million tons of waste
into 9 million megawatt hours of clean, renewable electricity and
approximately 9 billion pounds of steam that are sold to a variety
of industries. For more information, visit
www.covantaenergy.com
About Clean Energy Clean Energy Fuels
Corp. (NASDAQ: CLNE) is the largest provider of natural gas fuel
for transportation in North America. We build and operate
compressed natural gas (CNG) and liquefied natural gas (LNG)
fueling stations; manufacture CNG and LNG equipment and
technologies for ourselves and other companies; convert taxis,
vans, pick-up trucks and shuttle buses to natural gas; and develop
renewable natural gas (RNG) production facilities. For more
information, visit www.cleanenergyfuels.com.
Forward-Looking Statement-- 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 benefits of natural
gas relative to gasoline and diesel fuel and expectations about the
future adoption of natural gas as a vehicle 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 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 Clean
Energy 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.
Clean Energy Fuels (NASDAQ:CLNE)
Historical Stock Chart
From Jun 2024 to Jul 2024
Clean Energy Fuels (NASDAQ:CLNE)
Historical Stock Chart
From Jul 2023 to Jul 2024