PAM Transportation Services, Inc. Announces Award Of U.S. DOE Grant
TONTITOWN, Ark., July 30, 2010 (GLOBE NEWSWIRE) -- PAM Transportation Services, Inc. (Nasdaq:PTSI) announced the award of a United States Department of Energy grant to help fund alternative fuel vehicles and alternative fuel infrastructure. The grant is a cost-share project for 27 Compressed Natural Gas (CNG) powered tractors to operate in The Dallas-Ft. Worth Metroplex and for a Commercial "Public" Access Fast Fill CNG refueling station to be located at 909 Duncan Perry Rd. Arlington, TX.
Dan Cushman, President and CEO, commented, "PAM Transport is extremely pleased to be able to participate in a project like this on a scale large enough to demonstrate our commitment to American energy independence and clean energy programs. 98% of natural gas consumed in America is from North America, while 52% of oil consumed is from outside of North America. Use of engines that use natural gas reduces greenhouse gas emissions by 20% and biogas emissions by 80%. Our participation in the program will not only represent a big step for PAM Transport, but will also facilitate the participation of others by providing a convenient filling station that will cover the southwest corner of the Dallas-Ft. Worth Metroplex."
The grant award of $2.3 million was a portion of the $13.2 million awarded to the North Central Texas Council of Governments (NCTCOG). The grant money will help the region fund 382 fuel-efficient vehicles and 11 refueling stations. Once implemented, the North Texas projects could save nearly 1.3 million gallons of petroleum fuels, improve air quality, and create jobs.PAM Transportation Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company also provides transportation services in Mexico through its gateways in Laredo and El Paso, Texas under agreements with Mexican carriers.
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