Clean Energy Fuels Corp. (Nasdaq: CLNE) has signed a 10-year strategic partnership agreement with Saddle Creek Corporation, a leading logistics services provider, to build natural gas fueling stations at existing Saddle Creek locations in support of Saddle Creek’s expanding natural gas-powered truck fleet.
Saddle Creek is a nationwide third-party supply chain logistics (3PL) company that integrates transportation, warehousing, contract packaging and fulfillment services. The company operates 29 facilities across the country, which aggregate over 14 million square feet of warehousing space.
The first of Saddle Creek’s planned network of natural gas fueling stations opened in December at the company’s headquarters campus in Lakeland, Florida. Designed to fuel up to 120 CNG trucks per day, it is equipped with four fast-fill pumps and 20 time-fill hoses. Other sites under consideration include Saddle Creek locations in Atlanta, Georgia, Charlotte, North Carolina, and Dallas, Texas.
James Harger, Chief Marketing Officer, Clean Energy, said, “We are proud to partner with Saddle Creek, an environmental leader within the freight community, on this natural gas station development effort. Investing in natural gas vehicles for its fleets, and the fuel stations to supply them, is clear evidence of Saddle Creek’s commitment to help the supply chain trucking industry lower fuel costs, curtail harmful emissions, and reduce dependence on imported oil.”Mike DelBovo, President, Saddle Creek Transportation, said, “Sustainability is a core strategy at Saddle Creek, and this major new station-building agreement with Clean Energy marks a significant milestone in our efforts to transition our truck fleets to natural gas power. Our aim is to provide the benefits of this clean, cost-efficient, abundant domestic fuel to our shipping industry customers across the nation.” Currently priced up to $1.50 or more per gallon lower than diesel fuel, depending on market conditions, the use of natural gas fuel reduces costs significantly for vehicle and fleet owners, and lowers greenhouse gas emissions up to 23% in medium to heavy-duty vehicles. Additionally, natural gas is a secure North American energy source, with 98% of the natural gas consumed produced in the U.S. and Canada.
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