Clean Energy Fuels Corp. (Nasdaq: CLNE) today released Vol. IV of ROAD TO NATURAL GAS, an update of its growing portfolio of customers making the switch to natural gas as a transportation fuel or expanding their current fleets. This edition includes new agreements recently signed including Clean Energy’s first railroad fuel deal with GE Transportation to provide liquefied natural gas (LNG) for its new initiative to test LNG locomotives.
“Considerable strides have recently been made to propel America further and faster down the road to natural gas. The recent announcement by UPS to significantly expand their LNG fleet is a noteworthy signal by an industry-leader that natural gas will play a big role in the future of trucking. Clean Energy will support the UPS expansion by opening multiple new stations on our America’s Natural Gas Highway,” said Andrew J. Littlefair, Clean Energy’s president and CEO. “The other notable development is the rail industry’s acknowledgement that LNG will play a role in its future. Clean Energy’s fuel deal with GE Transportation expands our relationship with a company that is highly committed to the development of a market for a cleaner-burning, domestic fuel.”
The fourth edition of ROAD TO NATURAL GAS (attached below) contains a listing of natural gas fuel agreements signed since the third edition was released on February 25, 2013. Key industry developments are also noted, such as UPS’ recent announcement that it will expand its LNG fleet with 700 additional tractors and build four LNG stations by the end of 2014. America’s Natural Gas Highway® stands ready to fuel this industry transition as momentum continues to build in the long-haul trucking segment.
Natural gas fuel costs up to $1.50 less per gallon than gasoline or diesel, depending on local market conditions. The use of natural gas fuel not only reduces operating costs for vehicles, but also reduces greenhouse gas emissions up to 30% in light-duty vehicles and 23% in medium to heavy-duty vehicles.About Clean Energy Fuels Corp. Clean Energy Fuels Corp. (Nasdaq: CLNE) is the largest provider of natural gas fuel for transportation in North America. We build and operate compressed natural gas (CNG) and liquefied natural gas (LNG) fueling stations; manufacture CNG and LNG equipment and technologies for ourselves and other companies; convert taxis, vans, pick-up trucks and shuttle buses to natural gas; and develop renewable natural gas (RNG) production facilities. For more information, visit www.cleanenergyfuels.com. Forward-Looking Statements — This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including statements about the deployment of natural gas vehicles, the amount of natural gas fuel expected to be consumed by new and existing customers, the number and location of stations to be included in America's Natural Gas Highway, the timing for the completion of construction of these stations, the benefits of natural gas relative to diesel fuel, and expectations about the future adoption of natural gas as a vehicle fuel. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors, including, but not limited to, the performance, availability and benefits of natural gas trucks relative to gasoline and diesel trucks, the number of natural gas trucks deployed by our customers, permitting or other delays encountered during the identification of locations for, and the construction of, natural gas fueling stations, including those stations planned for America's Natural Gas Highway, and the price per gallon of natural gas fuel relative to diesel and gasoline. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents the Company files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
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