Clean Energy Contracts to Expand Its New York City Network of Compressed Natural Gas (CNG) Fueling Stations to Serve Growing CNG Taxi, Limo, & Paratransit Fleets
SEAL BEACH, Calif., Apr 19, 2010 (BUSINESS WIRE) -- Moving to expand its New York City network of CNG fueling facilities, Clean Energy Fuels Corp. (Nasdaq:CLNE) has contracted to build and operate two new CNG stations in the area. The first station will be located in Queens, and the second CNG station will open adjacent to Newark's Liberty International Airport. Designed to support growing fleets of CNG taxis, limousines and paratransit vehicles, the Queens and Newark Airport stations will also be available 24/7 for public access.
Clean Energy's Queens CNG facility will be built on property owned by Gene Friedman, New York City's largest taxi fleet owner. A substantial number of New York City taxis begin and end their work days in the general vicinity of the station. CNG station construction is set to begin in May of 2010 with a targeted opening slated for Fall 2010.
At Newark Liberty International Airport, Clean Energy will co-locate a CNG fuel station at a major new convenience store/fueling facility operated by GAZ Realty, a national developer of super-stations and multi-service airport plazas. The Clean Energy/Newark Airport Plaza CNG station is scheduled to open in June 2010.
James Harger, Clean Energy Chief Marketing Officer, said, "We are delighted with the station development relationships we have formed with Gene Friedman and GAZ Realty. By expanding our CNG station network, we are responding directly to the growing demand for clean, green, domestic natural gas fuel that we have observed in the New York area, as fleet operators deploy increasing numbers of CNG vehicles."
Natural gas produces up to 30% lower greenhouse gas emissions than gasoline in light-duty and medium-duty vehicles, and costs less per gallon.
The new Queens and Newark Airport facilities join Clean Energy's existing CNG station at La Guardia Airport. In addition, as part of a recent agreement with utility operator National Grid (NYSE:NGG, LSE:NG), Clean Energy has assumed management responsibilities for four National Grid-owned CNG stations in the New York metropolitan area, including the station at John F. Kennedy International Airport.
"These new and existing facilities are strategic fueling locations that provide a cleaner, less expensive fuel option for taxi and shuttle fleets serving local airports and the New York metropolitan area," Harger added.
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 17,800 vehicles at 196 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 biomethane, for delivery in the nation's gas pipeline network. Clean Energy also owns BAF Technologies, Inc. of Dallas, TX, a leading provider of natural gas vehicle systems and conversions for taxis, limousines, vans, pick-up trucks and shuttle buses. 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 the amount of CNG vehicles that will utilize the stations and the timing of the construction of the stations. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of the availability and performance of CNG vehicles in the vicinity of the stations, the pricing of CNG vehicles relative to gasoline and diesel vehicles, and unanticipated delays in the construction of the stations. 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.
Clean Energy Fuels Corp.
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Bruce Russell, 310-559-4955 x101
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