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Clean Energy To Provide The 'Show Me State' With The Benefits Of Natural Gas Fuel

Stocks in this article: CLNE

Clean Energy Fuels Corp. (Nasdaq:  CLNE) has been awarded multiple natural gas fuel agreements in the state of Missouri over the last few weeks including yesterday's approval by the City Council of Kansas City, Mo., to provide compressed natural gas (CNG) for the city's fleet of natural gas vehicles (NGVs). Below are the highlights of the agreements:

City of Kansas City, Mo.

  • Clean Energy plans to build, own and operate a public-access CNG station to service the city’s fleet of more than 265 light-, medium-, and heavy-duty NGVs with the expectation that this NGV fleet will grow to more than 400.
  • This station is projected to supply over 1 million gasoline-gallon-equivalents (GGEs) of CNG per year within the first three years of operation which is estimated to reduce 2,107 metric tons of greenhouse gas (GHG) emissions per year, the equivalent of removing approximately 435 passenger cars from the road annually.
  • The station will be located at 5300 Municipal Ave., Kansas City, MO 64120.

City of Columbia, Mo.

  • Clean Energy plans to build, own and operate a public-access CNG station located at the critical midway point between Kansas City and St. Louis, Mo., necessary to complete the I-70 CNG corridor between these two cities.
  • The station is scheduled to serve Columbia’s fleet of 30 NGVs which consists of refuse trucks, transit buses and medium-duty vehicles in addition to DART Trucking’s fleet of heavy-duty CNG trucks.
  • The station is projected to supply 500,000 GGEs of CNG per year, a figure which is expected to increase as Columbia’s vehicle replacement schedule continues to favor NGVs. Approximately 1,053 metric tons of the GHG emissions are forecasted to be reduced each year, the equivalent of removing approximately 217 passenger cars from the road annually.
  • The station will be located at 1900 Lake Ridgeway Dr., Columbia, MO 65202.

Lee’s Summit School District, Lee’s Summit, Mo.

  • Clean Energy is building and will own and operate a public-access CNG station to serve the Lee’s Summit School District’s fleet of 140 CNG buses, which is believed to be the largest school bus fleet conversion to CNG in the nation.
  • Projected fuel and maintenance cost savings to the district is expected to be approximately $11 million over the next ten years, much of which is expected to be used to purchase technology and related equipment for the children of Lee’s Summit
  • The station is forecasted to supply approximately 600,000 GGEs annually, reducing an estimated 1,264 metric tons of GHG each year, approximately the equivalent of removing 261 passenger cars from the road annually.
  • The station will be located at 500 S.E. Transport Dr., Lee’s Summit, MO 64081.

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 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 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 vehicles deployed by our customers 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.

Copyright Business Wire 2010

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