NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Clean
Energy Fuels Corp. (NASDAQ: CLNE)
and Mansfield
Energy Corp. today announced the formation of Mansfield
Clean Energy Partners (MCEP), a joint venture which will provide natural
gas fueling solutions to bulk fuel haulers in the United States, a
segment that consumes over three billion gallons of fuel every year. Ira
G. Pearl, a veteran of the natural gas industry, has been tapped to lead
the Mansfield Clean Energy Partners team.
MCEP's first customer will be Mansfield Oil Company, one of the nation's
largest providers of transportation fuel, which has deployed the first
of its recently-purchased 12 heavy-duty
compressed natural gas (CNG) trucks to haul diesel and gasoline for
its customers. This fleet of CNG trucks will fuel at a new Atlanta, Ga.,
area card-lock natural gas station available to fleets throughout the
region. The station was built by Clean Energy and forecasted to open by
November 2014. A second natural gas fueling station in Tampa, Fla.,
which will support additional Mansfield CNG trucks as well as other
regional and national bulk fuel haulers, is expected to open in early
2015.
"As a family-owned company, Mansfield is committed to responsibly
operating within the communities where we do business," said Michael
Mansfield, CEO of Mansfield. "Creating this partnership with Clean
Energy and deploying natural gas trucks is preparing us for the future
and will allow other bulk fuel haulers to take advantage of the benefits
of clean-burning natural gas."
"The deep relationships Mansfield has built with America's bulk fuel
haulers are virtually un-paralleled," said Andrew
J. Littlefair, president and CEO of Clean Energy. "Our joint sales
forces will leverage these relationships and Clean Energy's natural gas
fueling expertise to offer the critical market segment of bulk fuel
haulers the best natural gas fueling solutions on the market."
MCEP is in advanced discussions with several bulk fuel trucking
companies, representing potentially over 100 new heavy-duty
CNG trucks. To support these Class 8 natural gas trucks, MCEP will
develop new public-access natural gas fueling stations throughout the
United States in addition to the Atlanta and Tampa facilities.
Mansfield is uniquely positioned to serve the bulk fuel hauling market
because of the Company's over half-century experience in the refined
fuel products supply chain and its deep relationships in this business.
Clean Energy has built more natural gas stations than any other company
in the United States including almost 100 stations which are currently
opened and can accommodate Class 8 tractors.
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. In addition, nearly all natural gas consumed in
North America is produced domestically.
About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading 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; develop renewable natural gas (RNG)
production facilities; and deliver more CNG, LNG and Redeem RNG fuel
than any other company in the U.S. For more information, visit www.cleanenergyfuels.com.
About Mansfield
Ranked as one of the Top 50 privately held companies in America by
Forbes magazine, Mansfield defines the next generation transportation
fuels company. Founded in 1957, the company has achieved double-digit
growth for three decades by focusing on optimizing and controlling
fuel-related costs for its customers using innovation, technology and
high touch service. Mansfield's corporate headquarters is located in
Gainesville, GA, with regional operations centers located in Mark,
Illinois, Detroit, Denver, Loma Linda, California, Houston, Calgary and
renewable energy operations in Bloomington, MN. For more information,
visit www.mansfieldoil.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 without limitation statements about the number of
trucks expected to be deployed and the amount of natural gas fuel
expected to be consumed by Mansfield Oil Company and other bulk fuel
hauling companies, the benefits of natural gas relative to gasoline and
diesel, and construction of stations in Atlanta, GA, Tampa, FL, and
other locations. 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, without limitation, the price of
natural gas relative to gasoline and diesel, the cost and operating
experience associated with natural gas trucks, and permitting and other
factors affecting construction. 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.
Clean Energy
Patric Rayburn, 949-437-1411
(media)
patric.rayburn@cleanenergyfuels.com
or
Tony
Kritzer, 949-437-1403 (investors)
tkritzer@cleanenergyfuels.com
or
Mansfield
Kristin
Sanderson, 678-450-2119 (media)
ksanderson@mansfieldoil.com
Source: Clean Energy Fuels Corp.
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