Expands to Rail with GE Transportation
SEAL BEACH, Calif.--(BUSINESS WIRE)--
Clean
Energy Fuels Corp. (Nasdaq:CLNE)
today released Vol. IV of ROAD TO NATURAL GAS, an update of its growing
portfolio of customers making the switch to natural gas as a
transportation fuel or expanding their current fleets. This edition
includes new agreements recently signed including Clean Energy's first
railroad fuel deal with GE
Transportation to provide liquefied natural gas (LNG) for its new
initiative to test LNG locomotives.
"Considerable strides have recently been made to propel America further
and faster down the road to natural gas. The recent announcement by UPS
to significantly expand their LNG fleet is a noteworthy signal by an
industry-leader that natural gas will play a big role in the future of
trucking. Clean Energy will support the UPS expansion by opening
multiple new stations on our America's Natural Gas Highway," said Andrew
J. Littlefair, Clean Energy's president and CEO. "The other notable
development is the rail industry's acknowledgement that LNG will play a
role in its future. Clean Energy's fuel deal with GE Transportation
expands our relationship with a company that is highly committed to the
development of a market for a cleaner-burning, domestic fuel."
The fourth edition of ROAD TO NATURAL GAS (attached below) contains a
listing of natural gas fuel agreements signed since the third edition
was released on February 25, 2013. Key industry developments are also
noted, such as UPS' recent announcement that it will expand its LNG
fleet with 700 additional tractors and build four LNG stations by the
end of 2014. America's
Natural Gas Highway® stands ready to fuel this industry transition
as momentum continues to build in the long-haul trucking segment.
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.
About Clean Energy Fuels Corp.
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 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 deployment of natural gas vehicles, the amount of
natural gas fuel expected to be consumed by new and existing customers,
the number and location of stations to be included in America's Natural
Gas Highway, the timing for the completion of construction of these
stations, the benefits of natural gas relative to 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 performance,
availability and benefits of natural gas trucks relative to gasoline and
diesel trucks, the number of natural gas trucks deployed by our
customers, permitting or other delays encountered during the
identification of locations for, and the construction of, natural gas
fueling stations, including those stations planned for America's Natural
Gas Highway, and 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 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.
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Clean Energy Investor Contact:
Tony Kritzer
Director,
Investor Relations
562-936-7120
tkritzer@cleanenergyfuels.com
or
Clean
Energy Fuels Media Contact:
Patric Rayburn
Public
Relations Manager
562-936-7583
patric.rayburn@cleanenergyfuels.com
Source: Clean Energy Fuels Corp.
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