Peake Fuel Solutions, L.L.C., a wholly-owned subsidiary of Chesapeake Energy Corporation (NYSE:CHK), today announced the development of a new, transformative diesel natural gas (DNG) conversion kit, a product that will help heavy-duty truck operators save up to 30% on their fuel costs.
DNG allows trucks to run on a mixture of diesel and up to 70% clean, affordable, abundant, American natural gas. When compressed natural gas (CNG) or liquefied natural gas (LNG) fuels are not available, trucks retain the ability to run on 100% diesel.
“The trucking industry is the backbone of our nation’s economy, and Peake Fuel Solutions’ DNG technology can help the industry slash its biggest cost — fuel,” said Kent Wilkinson, Vice President – Natural Gas Ventures, Chesapeake. “DNG will help accelerate the trucking industry’s shift to a more affordable, domestic fuel.”
Long-term natural gas prices in the $4-6 per mcf range will translate into CNG and LNG prices of around $2.00 per diesel gallon equivalent, or about 50% lower than diesel prices. Assuming a typical DNG blend, truckers would save approximately $0.20 per mile on their fuel costs.Peake’s innovative conversion kit has been approved by the U.S. Environmental Protection Agency (EPA) for a variety of engines. The certificate of conformity makes it the only dual-fuel natural gas retrofit certified by the EPA, allowing DNG kits to modify a variety of engines from model years 2010-12 that encompass power ratings from 400 to 600 horsepower. Peake has begun accepting pre-orders for DNG kits, with widespread commercial availability expected in the first quarter of 2013. Fleet and truck owners can email email@example.com to learn more. Natural gas is a reliable and cleaner-burning source of fuel for consumers of gasoline and diesel, and the return on investment for a DNG conversion kit is typically less than 18 months. Interested DNG customers can calculate their expected fuel savings and the timeline for investment payback through an online calculator at www.peakefuelsolutions.com. Additionally, Peake offers complete natural gas fueling solutions including the unique CNG In A Box™ system, a fully integrated CNG fueling supply system offering plug-and-play simplicity for fleet and retail fueling stations; CNG fuel management modules; and fuel tank modules in frame-rail and behind-cab configurations.
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