General Motors and Clean Energy Working to Expand Hydrogen Fueling Infrastructure
DETROIT & SEAL BEACH, Calif., Jun 11, 2008 (BUSINESS WIRE) -- General Motors Corp. (NYSE:GM) and Clean Energy Fuels Corp. (Nasdaq:CLNE) announced today Clean Energy will open a hydrogen fueling station in Los Angeles with support from GM. The two companies also announced that they are exploring further opportunities to expand the hydrogen infrastructure.
As the first step in this effort, a hydrogen fueling station will be developed and located at Clean Energy's compressed natural gas (CNG) facility near Los Angeles International Airport (LAX).
The hydrogen station is expected to open in late summer or early fall -- and will be used by drivers taking part in Chevrolet's Project Driveway, the world's largest market test of fuel cell vehicles.
GM and Clean Energy are discussing potential opportunities to expand this first station into a network of hydrogen fueling stations by leveraging Clean Energy's natural gas fueling expertise and the real-world customer experience gained by fueling more than 14,000 vehicles daily at over 170 CNG stations across North America.
"Developing and growing hydrogen infrastructure is vital to GM's efforts to bring larger volumes of fuel cell vehicles to the market," said Mary Beth Stanek, director of energy and environmental policy & commercialization at General Motors. "We're supporting this hydrogen station near LAX because we recognize a critical role for Clean Energy's existing CNG infrastructure in helping expand the hydrogen infrastructure. We expect to learn important lessons from Clean Energy's expertise in developing and operating a network of natural gas fueling stations."
The LAX station will help both companies better understand the synergies between hydrogen and natural gas fueling.
"Working with General Motors in this highly significant project makes great sense," said Andrew J. Littlefair, Clean Energy's president and CEO. "Developing a cost-effective hydrogen infrastructure is a challenge. By leveraging the growing network of natural gas stations, a variety of hydrogen station designs can be introduced to the public. Ultimately, reforming pipeline natural gas to produce hydrogen at our stations may be done inexpensively, thereby taking advantage of the ready infrastructure. This approach can accelerate the larger-scale deployment of hydrogen vehicles."
Littlefair also noted that Clean Energy and GM can work to broaden the awareness of the societal and customer benefits of cleaner gaseous fuels as the world moves to diversify its sources of energy.
Chevrolet's Project Driveway is putting more than 100 Equinox fuel cell vehicles in the hands of real customers to help Chevy and GM understand what it will take to bring larger numbers of fuel cell vehicles to customers around the world. Currently, the program has launched in Los Angeles, New York City and Washington D.C. with further deployments later this year in Europe and Asia.
About General Motors
General Motors Corp. (NYSE:GM), the world's largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com
About Clean Energy
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, regional trucking, airport and municipal fleet markets, fueling more than 14,000 vehicles daily at over 170 strategic locations across the United States and Canada. Natural gas is cleaner, cheaper and a domestic resource, making it a compelling alternative to gasoline and diesel for high-fuel-use vehicles. Clean Energy del Peru, Clean Energy's Peruvian joint venture, operates the world's largest natural gas vehicle fueling station in Lima, Peru. Information at: www.cleanenergyfuels.com
Forward-Looking Statements
This news release from Clean Energy and General Motors 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. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements including the growth of the hydrogen fueling industry, the commencement of hydrogen fueling operations at the LAX station, the cost-effectiveness of utilizing natural gas infrastructure to provide hydrogen fueling and the size and impact of the Project Driveway program. The forward-looking statements made herein speak only as of the date of this press release and the companies undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Clean Energy Fuels Corp.
General Motors Pete Barkey Mgr., Fuel Cell and Hydrogen Communications Office: 248-857-1160 Cell: 586-850-3569 pete.barkey@gm.com or Clean Energy News Media Christine Thomas, 310/559-4955, ext. 103 christinethomas@ruscom.com or Investors Ina McGuinness, 310/954-1100
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