— Station Development Contract Award Valued at $40 Million —
SEAL BEACH, Calif.--(BUSINESS WIRE)--
Dallas Area Rapid Transit (DART) has awarded Clean Energy Fuels Corp.
(Nasdaq: CLNE) a $40-million contract to design and build four new
compressed natural gas (CNG) stations to support the transition of
DART's fixed route and paratransit bus fleet to 100% CNG power. The
project will also include two building modifications for maintenance
facilities.
Over the next three years, the agency plans to deploy 452 new CNG buses
and 200 CNG paratransit vehicles as replacements for its current fleet
of liquefied natural gas and diesel-powered models that began service in
1998.
The new Clean Energy CNG fueling stations will be located at DART's bus
and paratransit maintenance facilities. The station development project
is set to start in May 2011 and Clean Energy expects to complete DART's
first new CNG fueling facility by April 2012.
"With the transition of its bus fleet to CNG power, DART joins the ranks
of clear leaders among U.S. transit operators anxious to secure the
environmental and economic benefits of CNG for their communities," said
James Harger, Clean Energy's Chief Marketing Officer. "Across the
nation, Clean Energy is partnering with many transit agencies to
reliably fuel over 5,500 buses daily. We are honored by the opportunity
DART has given us to develop the new station infrastructure that will
support one of America's largest CNG transit bus fleets."
Based in Dallas, Texas, DART deploys buses on 135 fixed and express
routes, serving the communities of Addison, Carrollton, Cockrell Hill,
Dallas, Farmers Branch, Garland, Glenn Heights, Highland Park, Irving,
Richardson, Rowlett, Plano and University Park, Texas. In fiscal year
2010, passenger boardings of DART buses totaled more than 38 million.
Costing less than diesel, natural gas fuel produces up to 23%-percent
lower greenhouse gas emissions in medium to heavy-duty vehicles. U.S.
Department of Energy reports estimate that 98% of the natural gas
consumed in the U.S. is sourced in the U.S. and Canada. Using natural
gas fuel can prevent tons of emissions from entering the atmosphere
throughout the operating life of a typical bus fleet, while also
lowering a transit agency's operating costs significantly.
About Clean Energy Fuels — Clean Energy (Nasdaq: CLNE) is the
largest provider of natural gas fuel for transportation in North America
and a global leader in the expanding natural gas vehicle market. It has
operations in CNG and LNG vehicle fueling, construction and operation of
CNG and LNG fueling stations, biomethane production, vehicle conversion
and compressor technology.
Clean Energy fuels over 21,200 vehicles at 224 strategic locations
across the United States and Canada with a broad customer base in the
refuse, transit, trucking, shuttle, taxi, airport and municipal fleet
markets. Clean Energy del Peru, a joint venture, fuels vehicles at two
stations and provides CNG to commercial customers in Peru. We own (70%)
and operate a landfill gas facility in Dallas, Texas, that produces
renewable natural gas, or biomethane, for delivery in the nation's gas
pipeline network. We have agreed to build a second facility in Michigan.
We own and operate LNG production plants in Willis, Texas and Boron,
Calif. with combined capacity of 260,000 LNG gallons per day and that
are designed to expand to 340,000 LNG gallons per day as demand
increases. NorthStar, a wholly owned subsidiary, is the recognized
leader in LNG/LCNG (liquefied to compressed natural gas) fueling system
technologies and station construction and operations. BAF Technologies,
Inc., a wholly owned subsidiary, is a leading provider of natural gas
vehicle systems and conversions for taxis, vans, pick-up trucks and
shuttle buses. IMW Industries, Ltd., a wholly owned subsidiary based in
Canada, is a leading supplier of compressed natural gas equipment for
vehicle fueling and industrial applications with more than 1,200
installations in 24 countries. 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 DART's CNG buses and CNG paratransit
vehicles and the timing of the commencement and completion of
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 several factors including the rate of CNG
vehicle procurement by DART, the performance, availability and price of
CNG vehicles relative to liquefied natural gas, gasoline and diesel
vehicles, the price per gallon of compressed natural gas relative to
liquefied natural gas, diesel and gasoline, and permitting or other
delays encountered during construction of the stations. 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.
Clean Energy Fuels Corp.
News Media
Bruce
Russell, 310-559-4955 x101
brussell@cleanenergyfuels.com
or
Investors
Ina
McGuinness, 805-427-1372
ina@mcguinnessir.com
Source: Clean Energy Fuels Corp.
News Provided by Acquire Media