Investment Supports More LNG Fueling Stations
As 2011 Saw 63 CNG & Five LNG Projects Done
A $150 million exercise of warrants by founder Boone Pickens brought 2011’s investments in Clean Energy Fuels (NASDAQ:CLNE) to $450 million, and a good bit of the money will go toward establishing ANGH – “America’s Natural Gas Highway” – a network of liquefied natural gas fueling outlets, many at truck stops operated by Pilot Flying J.
Clean Energy says it has identified 98 locations and anticipates having 70 stations open by the end of 2012 in 33 states. The goal for 2013 is 80 more.
Highway segments targeted for early opening include, among others, those linking San Diego-Los Angeles-Riverside-Las Vegas; the Texas Triangle (Houston-San Antonio-Dallas/Ft. Worth); Los Angeles-Dallas; Houston-Chicago; Chicago-Atlanta; and a network of stations along major highways in Illinois, Indiana, Ohio, Missouri, Kentucky, Tennessee, Kansas, Oklahoma, and Alabama.
“The 150 first-phase stations coincide with the expected arrival of new natural gas truck engines well suited for heavy-duty, over-the-road trucking,” Clean Energy says. “Engine manufacturers and original equipment truck manufacturers such as Cummins Westport, Kenworth, Peterbilt, Navistar, Freightliner and Caterpillar are expected to have Class-8 trucks available in engine sizes allowing for varied road and driving requirements.”
“We are moving quickly to build this important network in order to support the new trucks,” Clean Energy president and CEO Andrew Littlefair said in a release. “Already, Clean Energy has engaged over 100 shippers, private fleets and for-hire carriers that have shared their operations to qualify the economic opportunity of operating natural gas trucks, which has helped us, in turn, plan the first phase of the natural gas fueling highway.”
Subsequent announcements are expected to detail the suppliers supporting the ANGH initiative.
Clean Energy says it completed 68 natural gas vehicle fueling station projects in 16 states in 2011, including five LNG truck fueling stations.
“We increased the number of station projects completed during the year by 50% over 2010,” Littlefair said. “These included stations serving transit (7), refuse (18) and airport/taxi/ shuttle (28) operations around the country, as well as locations situated to support the needs of local and regional trucking and small fleets (15).”
“We are pleased to be leading the way for key segments of our nation’s transportation system to convert to the use of natural gas fuel, saving money and helping the environment and our nation’s energy security through growing independence from imported oil.”
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