Clean Energy Signs Agreement with Commonwealth of Virginia to Provide Natural Gas and Vehicle Conversion Services
RICHMOND, Va.--(BUSINESS WIRE)--
At a ceremony opening his annual Conference on Energy, Virginia Governor
Robert McDonnell today signed an agreement with Clean Energy Fuels Corp.
(Nasdaq: CLNE) to enable the Commonwealth and local Virginia
governmental entities to purchase Compressed Natural Gas (CNG) from
Clean Energy for their vehicle fleets. Commonwealth, county, city,
municipal and other Virginia government bodies will be able to access
special pricing for CNG fuel and services through the state's
procurement website, eVA. Clean Energy also plans to build CNG fueling
stations and provide CNG vehicle conversions for Commonwealth and local
Virginia governments that want to take advantage of the benefits of
natural gas as a transportation fuel.
"Not only is this good for the government and the environment, but
ultimately it will be good for consumers and the economy as well," said
Governor McDonnell. "The infrastructure created through this effort will
be available to fuel passenger vehicles and other commercial fleets.
Through this innovative public-private partnership we enter today, the
Commonwealth, industry leaders and innovators can work collaboratively
to move state government and private industry away from vehicles fueled
by gasoline and diesel fuel and reduce our dependence on foreign oil."
"Through his leadership, Governor McDonnell has put Virginia on a path
to a more secure energy future," said Mark Riley, Vice President,
Eastern Region for Clean Energy at the signing ceremony in Richmond.
"Clean Energy is honored to partner with the Commonwealth on this
ground-breaking program that will give the Commonwealth, local
governments and consumers easier and greater access to natural gas as
their fuel choice."
Clean Energy recently opened its first CNG public-access station in
Virginia on Maury Street in downtown Richmond and expects to open its
second station adjacent to Dulles International Airport. Both
public-access stations are open 24/7 and are co-located with Clean
Energy's partner Quarles Fuel Network. Working with Commonwealth
officials, Clean Energy expects to develop a strategic network of CNG
station locations throughout Virginia, taking advantage of the extensive
inter-state highways traversing the Commonwealth.
Currently priced up to $1.50 a gallon lower than gasoline or diesel
depending on local markets, the use of natural gas fuel reduces
operating costs for vehicles and reduces greenhouse gas emissions up to
30% in light-duty vehicles and 23% in medium to heavy-duty vehicles. The
U.S. Department of Energy reports that 98% of the natural gas consumed
in the U.S. is sourced in the U.S. and Canada, making natural gas a
secure North American energy choice.
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 fueling market. We have operations in
compressed natural gas (CNG) and liquefied natural gas (LNG) vehicle
fueling and construction and operation of natural gas fueling stations.
Wholly-owned subsidiaries include BAF Technologies, which provides
natural gas vehicle systems and conversions for taxis, vans, pick-up
trucks and shuttle buses; IMW Industries, Ltd., which supplies CNG
equipment for vehicle fueling and industrial applications worldwide;
NorthStar, which supplies LNG and liquefied to compressed natural gas
fueling system technologies and equipment, station construction and
operations; and Clean Energy Renewable Fuels (CERF), which develops
renewable natural gas (RNG), or biomethane, production facilities in the
U.S. For more information, 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 building CNG fueling stations and providing CNG vehicle
conversions and CNG transportation fuel for Commonwealth and local
Virginia governments, developing a strategic network of CNG stations
locations throughout Virginia and the benefits of natural gas relative
to gasoline or diesel. 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, but not limited
to, the performance, availability and cost of natural gas vehicles
relative to gasoline and diesel vehicles, permitting or other delays
encountered during the identification of locations for, and the
construction of, natural gas fueling stations, and the price per gallon
of natural gas fuel relative to diesel and gasoline. 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. Additionally, the reports and other
documents the Company files with the SEC (available at www.sec.gov)
contain risk factors, which may cause actual results to differ
materially from the forward-looking statements contained in this news
Clean Energy Fuels Corp.
Source: Clean Energy Fuels Corp.
News Provided by Acquire Media
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