Port of Long Beach Approves Plan to Replace No Less Than 50 Percent of Aging Diesel Trucks with Alternative-Fueled Models
SEAL BEACH, Calif., Feb 21, 2008 (BUSINESS WIRE) -- At a special meeting at Port of Long Beach (POLB) headquarters on Feb. 19, 2008, harbor commissioners voted to approve a plan calling for replacement of at least half of current port drayage diesel trucks with trucks powered by clean alternative fuels -- specifically liquefied natural gas (LNG) or other alternative fuels that perform better than 2007 emission standards. Reacting to the move, Clean Energy Fuels Corp. (Nasdaq: CLNE) has renewed its stated commitment to supply clean-burning LNG fuel for thousands of LNG-powered trucks slated to replace aging diesel models as part of the San Pedro Bay Ports' Clean Air Action Plan (CAAP).
The CAAP Clean Truck Program targets the replacement of 16,800 old diesel trucks. The POLB plan calls for the replacement of its trucks with no less than 50 percent new alternative-fueled trucks, as well as new or converted diesel trucks that meet the minimum 2007 emission specifications for reduced harmful particulate matter and nitrogen oxide emissions. LNG trucks provide better emissions performance than the U.S. Environmental Protection Agency's 2007 truck standards, and can achieve the agency's 2010 emission standards while providing a 20 percent greenhouse gas reduction over diesel. The Clean Truck Program aims to cut truck-related air pollution by 80 percent within four years.
"We applaud the Long Beach Board of Harbor Commissioners for their action, a powerful demonstration of their intent to address and mitigate the greenhouse gas and toxic air contaminants that are emitted daily by the thousands of diesel-powered port trucks," said Andrew Littlefair, Clean Energy's President and CEO. Information on the Port of Long Beach's action is at: www.polb.com
In December 2007, Clean Energy opened the first major LNG truck fueling station adjacent to the port complex that is designed specifically to support CAAP goals. Littlefair explained that the new station is the first of three in the port area that Clean Energy will build in the near future to serve new LNG port drayage trucks.
"Further helping to make the Clean Truck Program's goals a practical reality, Kenworth Trucks and LNG truck engine maker Westport Innovations have stated that they can produce 5,000 new heavy-duty LNG trucks in 24 months," Littlefair added.
Meanwhile, to help meet expanding port and other heavy-duty vehicle requirements, Clean Energy is currently building California's first large-scale LNG production plant in the Mojave Desert, approximately 75 miles northeast of Los Angeles. At the new plant, Clean Energy will liquefy pipeline gas for shipment to customers by tanker trailers. Initial production capacity is anticipated to be 160,000 LNG gallons per day, with a potential for expansion, as needed, up to 240,000 gallons per day.
About Clean Energy
Clean Energy, based in Seal Beach, CA, 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, intrastate and interstate trucking, airport and municipal fleet markets, fueling more than 14,000 vehicles daily at over 170 strategic locations across the United States and Canada. Information at: www.cleanenergyfuels.com
Safe Harbor Statement
This press 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. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements, including the financial impact of unanticipated delays in LNG truck deployment, higher than anticipated station construction costs and delays in demand for LNG as a vehicle fuel. 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. Christine Thomas, 310/559-4955, ext. 103 cthomas@cleanenergyfuels.com or Investors John Mills/Ina McGuinness, 310/954-1100
Copyright Business Wire 2008
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