Station Will Support Third-Party Logistics Provider's New CNG Truck Fleet
SEAL BEACH, Calif.--(BUSINESS WIRE)--
Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed a 10-year contract
with third-party logistics provider Saddle Creek Transportation, Inc.
(Saddle Creek) to build, operate and maintain a new compressed natural
gas (CNG) truck fueling station at Saddle Creek's headquarters and
warehouse complex in Lakeland, Florida. The combined fast-fill and
time-fill fueling facility will support Saddle Creek's expanding fleet
of CNG trucks.
Development of the new Saddle Creek CNG station is already underway,
with the opening projected for December 2011. Saddle Creek expects to
deploy 40 new Freightliner CNG trucks by year-end to serve its Florida
customers. An additional 40 for-hire CNG trucks are scheduled to roll
out early in 2012 and the fleet is anticipated to grow to 120 trucks in
the future. It is projected that the first 80 trucks will use
approximately 1.5 million gallons of fuel per year.
Saddle Creek is a nationwide third-party supply chain logistics (3PL)
company integrating warehousing, for-hire transportation, contract
packaging and fulfillment services.
James Harger, Clean Energy's Chief Marketing Officer, said, "Investing
in natural gas vehicles for its for-hire fleet as part of the company's
commitment to sustainability makes Saddle Creek a leader in the
rapidly-growing movement to transition trucking to natural gas to add
fuel diversity, curtail harmful emissions and reduce dependence on
imported oil. They will have the largest over-the-road CNG fleet in
Florida."
Currently priced $1.50—$2.00 per gallon lower than diesel or gasoline
(depending upon local markets), the use of natural gas fuel reduces
costs significantly for vehicle and fleet owners, reduces greenhouse gas
emissions up to 30% in light-duty vehicles and 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 23,300 vehicles at 248 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. 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 CNG vehicles, the
volume of CNG 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
price of CNG trucks relative to gasoline and diesel trucks, the price
per gallon of CNG 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.
News Media
Clean Energy Fuels Corp.
Bruce Russell,
310-559-4955 x101
brussell@cleanenergyfuels.com
or
Investors
Ina
McGuinness, 805-427-1372
ina@mcguinnessir.com
www.cleanenergyfuels.com
Source: Clean Energy Fuels Corp.
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