Exelon Is Buying Seven Indiana and Ohio Stations from CNG Fuel, Inc.
Exelon Corp’s Constellation unit is entering the compressed natural gas vehicle fueling business via the acquisition of six CNG Fuel, Inc. stations in Ohio and Indiana, with a seventh in development. “Constellation will own and operate the stations as public/private-access fueling sites for regional and interstate transportation fleets,” says a release.
The firm says it’s working with existing customers “to develop, build, own and operate CNG fueling stations in locations to serve customer-owned and third-party contracted fleets.”
“The economics for fleet conversion are compelling,” the company says.
Leveraging Exelon Scale
Via the CNG Fuel, Inc. buy, the Exelon unit “leverages scale and expertise in the natural gas market to provide clean energy options, fuel savings for customers,” the announcement states.
“Our customers and business partners see CNG and electric vehicle charging as key opportunities to address their long-term sustainability and cost management objectives,” Constellation senior VP for distributed energy Gary Fromer says in the release.
“The addition of CNG to Constellation’s retail offerings will help our customers accelerate fleet conversions while allowing Constellation to address their CNG infrastructure and gas supply management requirements,” he said.
Already Big in Gas
The CNG Fuel, Inc. stations are in Indianapolis, Lafayette, Greensburg and Seymour, Ind., with Fort Wayne in development, and in Dayton and Findlay, Ohio.
Constellation notes that it’s one of the ten largest natural gas marketers in the U.S., delivering more than 2 trillion cubic feet of gas annually to homes, businesses, regulated utilities and municipal co-ops.
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Source: Constellation CNG with Fleets & Fuels follow-up