Clean Energy Applauds Proposed Federal Legislation to Significantly Increase Natural Gas Vehicle Use in America
SEAL BEACH, Calif., Apr 02, 2009 (BUSINESS WIRE) -- Clean Energy Fuels Corp. (Nasdaq:CLNE) announced strong support for the New Alternative Transportation to Give Americans Solutions (NAT GAS) Act introduced in Congress on Wednesday.
Seeking to accelerate the production and use of natural gas-fueled vehicles, the bi-partisan-sponsored legislation would greatly enhance alternative fuel tax credits for natural gas used as a vehicle fuel, for the purchase of natural gas-fueled vehicles, and for the installation of natural gas vehicle refueling properties. The bill would also encourage OEMs to produce dedicated natural gas and bi-fuel natural gas vehicles, and require federal government use of natural gas vehicles in a portion of its fleets.
"Worldwide, natural gas vehicle use is expanding dramatically. Natural gas vehicle solutions are no longer in the proof of concept stage, but rather are being rapidly adopted by many countries seeking to reduce petroleum use and improve the environment," said Andrew J. Littlefair, Clean Energy president and CEO. "The support by the federal government through this legislation can have a meaningful impact on how we as Americans manage our energy resources, swapping more expensive imported oil for less costly domestic natural gas -- an abundant, American transportation fuel."
Clean Energy (Nasdaq:CLNE) is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 15,000 vehicles daily at 176 strategic locations across the United States and Canada. Clean Energy owns and operates two LNG production plants, one in Willis, TX and one in Boron, CA, with combined capacity of 260,000 LNG gallons per day and designed to expand to 340,000 LNG gallons per day as demand increases. It also owns and operates a landfill gas facility in Dallas, TX that produces renewable methane gas or biogas for delivery in the nation's gas pipeline network. Please 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 adoption of natural gas vehicle solutions, the relative prices of domestic natural gas and imported oil and the impact of the NAT GAS act, if passed by Congress. 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 any amendments made to the draft legislation, the failure of the legislation to pass or developments in the global and domestic commodities markets for oil and natural gas. 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.
SOURCE: Clean Energy Fuels Corp.
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