SEAL BEACH, Calif.--(BUSINESS WIRE)--
Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed an agreement with The
Hertz Corporation (NYSE: HTZ) to build, operate and supply a compressed
natural gas (CNG) fueling station on Hertz-owned property adjacent to
Los Angeles International Airport (LAX). The new Clean Energy CNG
fueling facility, available 24/7 for public access, will support the
expanding Hertz fleet of clean-burning CNG airport shuttle buses.
Hertz currently deploys CNG airport buses at its LAX location to
transport its rental car customers to and from airline terminals.
"This new Hertz partnership will allow Clean Energy to build a much
needed second public fueling station at LAX, while providing fuel
service to a premier rental car company in the United States," said
James Harger, Clean Energy Chief Marketing Officer. "The transition by
the airport industry and allied services from diesel to natural gas fuel
for ground transportation is accelerating rapidly, in response to the
need to curtail emissions, decrease fuel costs, and reduce dependence on
imported oil."
"Introducing CNG shuttle buses and fueling stations to support
compressed natural gas is an integral part of Hertz's stewardship of the
environment," commented Mark P. Frissora, Chairman and Chief Executive
Officer, The Hertz Corporation. "Partnering with Clean Energy reinforces
our mission to minimize the environmental impact from our operations and
we're excited to be able to support our shuttle fleet while also
allowing other airport entities access to the CNG station."
The Hertz LAX facility will include public access fueling islands for
local fleets of CNG taxis and shared-ride vans, plus hotel, parking and
rental car buses. A private Hertz island will be capable of fueling its
internal fleet simultaneously. Station construction is expected to begin
in March 2011 with opening slated for early third quarter of 2011. By
2015, Hertz expects to have transitioned its entire LAX transit bus
fleet to clean, green, domestic CNG gas power.
Clean Energy now operates a large-volume, high-traffic LAX-adjacent
public access CNG station that serves light, medium and heavy-duty fleet
vehicles in the area, including rental car buses for Hertz. Harger said,
"The addition of the new Hertz station to our existing LAX fueling
infrastructure will help Clean Energy meet fast-growing CNG fueling
demands from operators of airport-related taxi, shared ride vans, hotel,
other rental car and private parking shuttle fleets."
Costing less than diesel or gasoline, natural gas fuel produces up to
30% less greenhouse gas emissions in light-duty vehicles, and up to
23%-percent lower greenhouse gas emissions in medium to heavy-duty
applications. Department of Energy reports estimate that 98% of the
natural gas consumed in the U.S. is sourced in the U.S. and Canada.
About Clean Energy Fuels — 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 19,900 vehicles at 211 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. It owns (70%) and operates a landfill gas facility in Dallas,
Texas, that produces renewable methane gas, or biomethane, for delivery
in the nation's gas pipeline network. It owns and operates 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. BAF Technologies,
Inc., a wholly owned subsidiary, is a leading provider of natural gas
vehicle systems and conversions for taxis, limousines, 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 1,000 installations in 24 countries. 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 amount of CNG sold to Hertz and other customers at
a fueling station to be constructed on Hertz's property. Actual results
and the timing of events could differ materially from those anticipated
in these forward-looking statements as a result of the number of CNG
busses or vehicles deployed by Hertz or other customers, the performance
of the CNG vehicles, and permitting or other delays encountered during
the construction of the station. The forward-looking statements made
herein speak only as of the date of this press release and the company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
Clean Energy Fuels
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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