MOUNTAIN VIEW, Calif., April 3,2012 /PRNewswire/ -- Based on its recent analysis of the private commercial fleet market, Frost & Sullivan recognizes Heckmann Corporation (NYSE: HEK) with the 2011 North American Frost & Sullivan Award for Green Excellence. The company, through its Heckmann Water Resources, or "HWR", segment, has ordered 200 liquefied natural gas ("LNG") tractor units for its fleet. To date, no other private fleet has come close to an order of this magnitude. The next-largest recent purchase by a private North American fleet was for 50 units.
While natural gas vehicles have generated a lot of press in recent years, the lack of sufficient LNG fueling infrastructure to support major commercial fleet deployment has been the greatest hindrance to the wider adoption of these vehicles. Heckmann has overcome this restriction by working directly with a leading LNG supplier to provide fueling in lockstep with its vehicle acquisition schedule. In so doing, Heckmann has set an example for other fleets and fueling station providers.
"The natural gas vehicle market is still in its early stages; as such, any fleets that take an early adopter stance by placing large orders serve to support vehicle manufacturers and the related systems and components supplies in deriving sufficient sales to start regular production runs," said Frost & Sullivan Commercial Vehicle Research Global Director Sandeep Kar. "When this tipping point occurs, economies of scale can be realized and total product costs can be reduced, thus stimulating further market demand."
As a result of Heckmann's order for 200 LNG commercial vehicles, the company expects to replace demand for 5 million gallons of diesel fuel annually. According to the EPA, each gallon of diesel releases 22.2 pounds of CO2, while the estimated CO2 release from an equivalent amount of natural gas ("DGE") is 20-25 percent lower. This means Heckmann will reduce its carbon emissions by more than 20 million pounds per year.
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