NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE) today announced the grand opening of the Hillsborough Area Regional Transit Authority (HART) compressed natural gas (CNG) station to serve the first transit agency in Florida expected to transition its entire fleet to cleaner-burning natural gas. This fueling station will be equipped with four fast-fill CNG dispensers to fuel buses, vans and other fleet vehicles. The project includes capacity to add additional compressors as the HART fleet gradually transitions its entire fleet to CNG buses.
HART awarded Clean Energy the contract to design, build, operate and maintain the new CNG fueling station to support their investment in a cleaner and more cost-effective bus fleet. The project entailed the construction of a CNG fueling station plus modification of existing maintenance facilities and fuel lanes. The modifications were engineered and implemented by Clean Energy’s Facility Modification Services team.
“We expect our new natural gas vehicles to allow people to continue to commute in comfort and at the same time improve our air quality,” said Katharine Eagan, HART interim chief executive officer. “Natural gas is available domestically and at this time, costs approximately 20 to 25 percent less than diesel. Clean Energy has been a terrific partner with extensive expertise to help us realize a successful transition.”
Over the coming weeks, HART plans to deploy 28 new CNG vans to replace its diesel-powered models. Early next year, HART expects to put 22 new CNG buses in service as its diesel buses are retired from service. By the end of 2015, HART expects a total of 59 CNG vehicles to be in service.
Clean Energy expects this growing fleet to consume approximately 230,000 DGEs of CNG in year-one of operation and approximately 725,000 DGEs annually by 2018. Once fully-deployed, the fleet is forecasted to reduce HART’s greenhouse gas emissions by 1,738 metric tons per year, the equivalent of removing 360 passenger cars from the road annually. In addition to the new HART facility, Clean Energy also operates a public CNG station at the Tampa International Airport supporting the region’s growing number of NGV fleets.
“HART has shown incredible leadership in Florida in its transition to natural gas. We’re privileged to support them in their effort to provide a cleaner ride to their 14.6 million annual riders,” said Mark Riley, regional vice president, Clean Energy. “In addition to our CNG fueling station services, our new Facility Modification Services team made the necessary modifications to HART’s existing facilities so their transition to CNG could be as seamless as possible.”
Natural gas fuel costs up to $1.50 less per gallon than gasoline or diesel, depending on local market conditions. The use of natural gas fuel not only reduces operating costs for vehicles, but also reduces greenhouse gas emissions up to 30% in light-duty vehicles and 23% in medium to heavy-duty vehicles. In addition, nearly all natural gas consumed in North America is produced domestically.
About Clean Energy
Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading provider of natural gas fuel for transportation in North America. We build and operate compressed natural gas (CNG) and liquefied natural gas (LNG) fueling stations; manufacture CNG and LNG equipment and technologies for ourselves and other companies; develop renewable natural gas (RNG) production facilities; and deliver more CNG, LNG and Redeem RNG fuel than any other company 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, without limitation, statements about the benefits of natural gas relative to gasoline and diesel, the number of CNG vehicles and buses expected to be deployed by HART and the amount of CNG anticipated to be consumed by HART. 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, without limitation, the price of natural gas relative to gasoline and diesel and the cost and operating experience associated with natural gas vehicles. 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 release.
