L.A. Metro Transit Agency Contracts with Clean Energy for Major CNG Fuel Station Upgrades to Support Nation's Largest Natural Gas-Powered Bus Fleet
SEAL BEACH, Calif., Apr 12, 2010 (BUSINESS WIRE) -- Clean Energy Fuels Corp. (Nasdaq: CLNE) has secured contracts totaling nearly $8.4 million from the Los Angeles County Metropolitan Transportation Authority (Metro) to upgrade four of Metro's compressed natural gas (CNG) bus fueling stations. Metro currently deploys America's largest CNG-powered transit bus fleet. Metro's 2,506 clean-burning CNG buses comprise 95% of its overall fleet and consume more than 30 million gallons of CNG fuel annually.
Over the next 18 months, Clean Energy will reconfigure and upgrade the CNG fueling station compressor equipment at four Clean Energy-operated Metro fueling locations. Metro secured grant funding for its CNG station upgrade project from the federal program created by the 2009 American Recovery and Reinvestment Act.
Metro deploys buses on 191 fixed routes in a 1,433-square-mile service area in Los Angeles County. More than 9.6 million people -- nearly one-third of California's residents -- live and work in L.A. County. In fiscal year 2009, passenger boardings of Metro buses totaled more than 365 million.
James N. Harger, Clean Energy's Chief Marketing Officer, said, "We are pleased to be selected for our expertise by Metro, the clear leader today among U.S. transit operators that are taking accelerated action to operate their bus fleets on clean-burning CNG power. Across America, Clean Energy is partnering with many major public transit agencies and their service providers to fuel over 5,000 buses and to help them implement and expand their clean-fuel programs."
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 a 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 statements about the timing and pricing of the CNG station upgrade projects. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of unanticipated delays in the construction process. 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.
for Clean Energy Fuels Corp.
News Media
Bruce Russell, 310/559-4955 x101
brussell@cleanenergyfuels.com
or
Investors
Ina McGuinness, 310/954-1100
Copyright Business Wire 2010