Clean Energy to Build, Operate, Supply New Public Access CNG Fuel Station to Serve Oklahoma State University Campus Fleets
SEAL BEACH, Calif., Mar 30, 2009 (BUSINESS WIRE) -- Oklahoma State University (OSU) has awarded Clean Energy Fuels Corp. (Nasdaq: CLNE) a new 15-year contract to construct, operate and supply a new compressed natural gas (CNG) fueling station on the OSU campus at Stillwater, OK. The facility will support the University's accelerating program to replace most of its diesel bus and gasoline-powered fleet vehicles with energy-efficient, environmentally friendly CNG models.
The new Clean Energy OSU CNG station, which will also be open to the public, will be located on the Southeast corner of Lakeview and Western on the Stillwater campus. Slated for opening by Fall 2009, the new facility will be equipped with two fast-fill CNG dispensers plus 24 time-fill CNG dispensers to supply fuel for the OSU's growing CNG campus bus fleet. OSU has announced plans to acquire and deploy 24 new CNG transit buses and 150 CNG fleet vehicles in the next three years, with up to 500 fleet vehicles anticipated within 10 years.
"Our goal is to have most of the vehicles designated for campus use equipped to run on CNG," said OSU President Burns Hargis. "This is a big step in moving OSU forward with its green initiatives. As a premier land-grant university, it is important that we are good stewards of the earth."
OSU has been evaluating alternative fuel options for several years, and has now opted to focus on CNG for its campus fleets. "Clean Energy is the leader in the growing CNG arena, and we look forward to working with them on this important initiative," President Hargis said.
James Harger, Clean Energy Senior Vice President, said, "We are very grateful for the confidence that OSU has placed in Clean Energy, and are committed to fully supporting their efforts to make the CNG fleet transition process an unqualified success."
Harger added, "The use of CNG vehicles aligns very well with OSU's efforts to ensure climate protection and air quality improvements. CNG has proven to significantly lower harmful emissions like nitrogen oxides, particulate matter, toxic pollutants and greenhouse gases."
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 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 number of CNG vehicles that are planned to be deployed by OSU. 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 CNG vehicle availability, available funds in the OSU transportation budget and the anticipated timing of the station's construction. 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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