SEAL BEACH, Calif.--(BUSINESS WIRE)--
Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed a 10-year agreement
with Green Energy Oilfield Services, a major Texas truck transport
provider, to build, supply, and maintain a new liquefied natural gas
(LNG) fueling station at Green Energy headquarters in Fairfield, Texas.
The Clean Energy LNG station will fuel Green Energy's new fleet of 60
LNG-powered heavy-duty Peterbilt trucks, which will support Green
Energy's oil production customers within a 100-mile radius of Fairfield,
in the Freestone oil region of Central Texas. The trucks are anticipated
to use approximately 1.2 million gallons of LNG annually.
Development of the new Green Energy Fairfield LNG station is set to
begin in August 2012, with completion scheduled by the end of 2012.
Green Energy's future plans include development of additional LNG truck
fueling stations in the Barnett (Fort Worth), Haynesville (Marshall),
and Eagle Ford Shale (Laredo) petroleum-producing areas of Texas.
Roger Nevill, President and COO of Green Energy, said, "Our company is
committed to acquiring and deploying fleets comprised exclusively of
LNG-powered trucks. Together with many of our oilfield services
customers, we are anxious to secure the cost-saving and clean-air
benefits offered by natural gas. Another important goal for us is
helping reduce America's need for foreign oil imports, and natural gas
fuel is sourced domestically."
James Harger, Clean Energy's Chief Marketing Officer, said, "With the
availability of new class-8, 2010 EPA-compliant natural gas trucks from
several major manufacturers, regional and national trucking operators
are deploying natural gas fleets in increasing numbers. Their goals
include conserving costs, adding fuel diversity, curtailing harmful
emissions, and reducing America's dependence on imported oil. We commend
Green Energy for its pace-setting commitment to powering truck fleets
with natural gas fuel."
Currently priced up to $1.50 or more per gallon lower than diesel
(depending upon local markets), the use of natural gas fuel reduces
costs significantly for vehicle and fleet owners, and reduces greenhouse
gas emissions up to 23% in medium to heavy-duty vehicles. Additionally,
natural gas is a secure North American energy source, with 98% of the
natural gas consumed produced in the U.S. and Canada.
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 market. It has operations in CNG and LNG
vehicle fueling, construction and operation of CNG and LNG fueling
stations, biomethane production, vehicle conversion and compressor
technology.
Clean Energy fuels over 25,200 vehicles at 257 strategic locations
across the United States and Canada with a broad customer base in the
refuse, transit, trucking, shuttle, taxi, airport and municipal fleet
markets. We are building "America's Natural Gas Highway", a network
comprised initially of more than 100 LNG truck fueling stations
connecting major freight trucking corridors across the country. Clean
Energy del Peru, a joint venture, fuels vehicles and provides CNG to
commercial customers in Peru. We own (70%) and operate a landfill gas
facility in Dallas, Texas, that produces renewable natural gas, or
biomethane, for delivery in the nation's gas pipeline network, and we
plan to build a second facility in Michigan. We own and operate LNG
production plants in Willis, Texas and Boron, Calif. with combined
capacity of 260,000 LNG gallons per day and that are designed to expand
to 340,000 LNG gallons per day as demand increases. NorthStar, a wholly
owned subsidiary, is the recognized leader in LNG/LCNG (liquefied to
compressed natural gas) fueling system technologies and station
construction and operations. BAF Technologies, Inc., a wholly owned
subsidiary, is a leading provider of natural gas vehicle systems and
conversions for taxis, vans, pick-up trucks and shuttle buses. IMW
Industries, Ltd., a wholly owned subsidiary based in Canada, is a
leading supplier of compressed natural gas equipment for vehicle fueling
and industrial applications with more than 1,200 installations in 24
countries. 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 the procurement and deployment of LNG vehicles, the
volume of LNG that will be consumed at the station, the potential impact
of replacing diesel and gasoline with CNG, and the timing for completion
of the station. 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 the performance, availability and
benefits of natural gas trucks relative to gasoline and diesel trucks,
the price per gallon of LNG relative to diesel and gasoline, and
permitting or other delays encountered during construction of the
station. 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.
For Clean Energy Fuels Corp.
News Media
Bruce Russell,
310-559-4955 x101
brussell@cleanenergyfuels.com
or
Investors
Ina
McGuinness, 805-427-1372
ina@mcguinnessir.com
Source: Clean Energy Fuels Corp.
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