Clean Energy Wins Major Transit Deal; Shows Continued Growth with New and Existing Customers
Clean
Energy Fuels Corp. (NASDAQ: CLNE) announced that it won a $10
million, multi-year procurement from New Jersey Transit, the nation’s
third largest provider of bus, rail and light rail transit, which links
major points in New Jersey, New York and Philadelphia and provides close
to 223 million passenger trips each year.
The procurement includes rebuilding a large compressed natural gas (CNG)
fueling station, as well as additional garage modifications and the
repair and maintenance of facilities through 2020. NJ Transit is
expected to operate a fleet of 147 CNG commuter buses estimated to
consume approximately 2 million gasoline gallon equivalents (GGEs) each
year.
Clean Energy also signed other agreements across the transit,
refuse
and trucking
markets, including the construction of new stations and extended
maintenance and fueling contracts.
Transit
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SP+, a provider of professional parking management, has signed a
5-year fueling agreement with Clean Energy to fuel 16 CNG buses for a
new Consolidated Rent-A-Car facility located at the San Diego
International Airport. The buses, owned by the San Diego Airport
Authority, are anticipated to consume approximately 27,000 GGEs per
month and will fuel with Redeem™,
Clean Energy’s renewable natural gas (RNG) derived from biomethane.
-
On Feb. 10, 2016, the Los Angeles County Metropolitan Transportation
Authority (LA
Metro) opened its Division 13 facility, a $6 million private CNG
fueling station built by Clean Energy. The new facility, which will be
maintained by Clean Energy for the next 10 years, will fuel
approximately 175 buses, which are expected to consume a total of 2
million GGEs of CNG annually.
-
Clean Energy extended its maintenance contract with Santa Cruz
Metropolitan Transit District (Santa Cruz Metro) for an additional 5
years. The maintenance
services support a station that fuels Santa Cruz Metro’s 100 CNG
buses used throughout the county.
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Clean Energy customer MV Transportation was awarded a CNG bus contract
with Los Angeles World Airports. The 14 CNG buses will fuel
exclusively at Clean Energy stations.
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The City of Long Beach recently announced the purchase of over 100
additional light- and medium-duty CNG vehicles that will fuel at two Clean
Energy stations in the city.
Trucking
-
Long-time customer, Dillon
Transportation, has signed a new agreement with Clean Energy to
fuel its heavy duty trucks in Texas with Redeem™. Dillon currently
operates 72 CNG and liquefied natural gas (LNG) trucks out of Dallas,
San Antonio, Midland and Houston which now fuel with Redeem to meet
its customers’ sustainability goals. In 2015, Dillon’s fleet consumed
1.1 million GGEs of natural gas in Texas.
-
Raven
Transport will deploy an additional 10 new LNG tractors out of
Clean Energy’s Fort Worth, Texas, station starting in early March,
which are expected to consume approximately 220,000 GGEs annually. The
fueling contract runs through 2020.
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Blackrock Logistics, based out of Pleasanton, Calif., and new
customer, has deployed 10 CNG trucks for its fleet and will be fueling
at Clean Energy’s Fontana, Calif., station. The 3-year fueling
agreement represents approximately 110,000 GGEs of CNG each year.
Refuse
-
Clean Energy will design, build, lease and operate a new station in
Orange County, Fla., for FCC, a multi-national construction firm that
was awarded a refuse collection contract with the county. FCC has
deployed 46 CNG trucks for that contract and will be fueling at Clean
Energy’s Orlando International Airport station until the new station
is completed. FCC is anticipated to consume close to 410,000 GGEs per
year.
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Clean Energy has signed a contract to design and build two stations
for Recology Inc., one of the largest private refuse fleets in the
country. In Brisbane, Calif., Clean Energy will design and build a
time-fill and fast-fill station to support Recology’s current fleet of
64 CNG trucks, and be able to support their growth to 200 trucks in
the future. At Recology’s Gilroy, Calif. station, Clean Energy will
design and build a time-fill station to support 50 CNG trucks.
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Harrison Brothers Enterprises has signed a station design and build
contract with Clean Energy to support their fleet of 13 CNG refuse
trucks. The station will include 24 fueling hoses and have the
capacity to fuel over 100 trucks, supporting the refuse haulers plans
to expand their use of CNG as their fueling solution of choice.
Natural gas fuel costs less than gasoline or diesel, depending on local
market conditions. The use of natural gas fuel also reduces greenhouse
gas emissions up to 21 percent. In addition, nearly all natural gas
consumed in North America is produced in North America.
About Clean Energy
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 and LNG fuel than any other
company in the U.S. Clean Energy also sells Redeem™ RNG fuel and
believes it is the cleanest transportation fuel commercially available,
reducing greenhouse gas emissions by up to 90%. 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 without limitation statements about numbers of
vehicles expected to be deployed, amounts of natural gas fuel expected
to be consumed, and the benefits of natural gas relative to gasoline and
diesel. 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 vehicles, 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.
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Copyright Business Wire 2016
Source: Business Wire
(March 2, 2016 - 6:00 AM EST)
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