GE Capital and Clean Energy Form Strategic Alliance to Accelerate Adoption of Natural Gas in Trucking Industry
To take advantage of this opportunity, truck fleet operators will first
work with Clean Energy to develop natural
gas fueling contracts, and will then apply for loans and leases,
including fair market value leases, from
"We think this alliance will help to open up the natural gas market for
long-haul operators," said
Class 8, or heavy-duty, trucks can use both compressed natural gas (CNG) and liquefied natural gas (LNG). Both CNG and LNG cost significantly less than diesel — a key factor considering that fuel comprises nearly 40% of a typical over-the-road carrier's operational costs.
Two of the factors that had delayed the transition to natural gas in the
over-the-road trucking industry were related to technology and
infrastructure. With the ongoing refinement and expanded availability of
natural gas engines by commercial vehicle manufacturers and the 400+
natural gas fueling stations owned, operated, maintained and/or supplied
by Clean Energy throughout the U.S. and
"Together with
Today's announcement expands the existing relationship between Clean
Energy
About Natural Gas Vehicles
There are more than 13 million natural gas vehicles in use worldwide, according to Clean Energy. Moreover, 25% of all new buses and 60% of refuse trucks currently on order nationwide will be powered by natural gas.
Here are some additional facts about natural gas from Clean Energy:
-
Natural gas currently costs about
$1.50 less per gallon than diesel or gasoline, depending upon local prices. - Vehicles that run on natural gas emit up to 30% less greenhouse gas emissions than gasoline or diesel vehicles.
-
Nearly all natural gas consumed in
North America is produced domestically. - There are more than 1,100 natural gas fueling stations in the U.S. — and about half of them are open to the public.
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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 natural gas
vehicles, the benefits of natural gas relative to diesel fuel, and the
potential payback on the incremental cost of natural gas heavy-duty
trucks. 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 benefits of natural gas trucks relative to diesel
trucks and the price of natural gas vehicle fuel relative to diesel
fuel. The forward-looking statements made herein speak only as of the
date of this press release and, unless otherwise required by law, Clean
Energy undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances. Additionally,
the reports and other documents Clean Energy files with the
Important Notice: Nothing herein shall be construed as (i) an approval
or commitment to finance or provision of other service by
Copyright © 2013 General Electric Capital Corporation. All rights
reserved. "GE," "General Electric Company," "General Electric," "General
Electric Capital Corporation," the GE Logo, and various other marks and
logos used herein are registered trademarks, trade names and service
marks of
Lisa.Tibbitts@GE.com
or
Clean
Energy
Patric.Rayburn@CleanEnergyFuels.com
Source:
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