A vehicle using CNG can reduce annual fuel costs up to 40 percent, assuming 25,700 miles per year driven, gasoline priced at $3.50/gallon and CNG at $2.09/gasoline gallon equivalent. This represents savings totaling as much as $1,500 per fleet vehicle per year. In total, for each fleet vehicle using fuel provided by CNG In A Box instead of gasoline, a fleet operator can reduce CO 2e emissions from fuel combustion by about 24 percent, or 2.2 metric tons per vehicle annually, assuming an average fleet vehicle travels approximately 25,700 miles per year.“Both GE and Chesapeake are known for taking on tough energy challenges and putting the best minds and technologies to work to develop solutions,” said Aubrey K. McClendon, Chesapeake’s Chief Executive Officer. “The partnership announced today between GE and Chesapeake’s affiliate, Peake Fuel Solutions, combines Chesapeake’s natural gas expertise with GE’s extensive global manufacturing capabilities and will bring transformative products to industries and individual consumers across the U.S. These products and services will allow customers to enjoy the clear advantages of clean, affordable and abundant American natural gas at about half the cost of gasoline.” Said GE Energy President & CEO John Krenicki, “GE is fundamentally committed to natural gas—our technologies help extract it, move it and turn it into power, whether it’s highly efficient gas turbines delivering electricity at the utility scale or, in the near future, a vehicle at a refueling station. What makes this project particularly exciting is that it paves the way to taking the immense reserves of natural gas being discovered in the U.S. and using them right here in the U.S. That paves the way for faster economic growth, energy security, more jobs and reduced environmental impact.” This CNG technology will be brought to market by Peake Fuel Solutions—a Chesapeake affiliate—which has extensive experience with natural gas vehicles, vehicle emission controls and natural gas market dynamics. Chesapeake also brings considerable in-house expertise in CNG market development to the GE collaboration, including retail station relationships, fleet outreach and education programs and policy engagement.
CNG In A Box takes natural gas from a pipeline and compresses it on-site at an industrial location or at a traditional automotive refilling station to then turn it into CNG. A CNG vehicle, such as a taxi, bus or small truck, can then refill its tank using a traditional fuel dispenser, much like those used for diesel or gasoline refueling.Key features include:
- The gas compression, storage, cooling, drying and controls are easy to ship and maintain due to its compact “In Box” design.
- The units come in two configurations: an 8 foot x 20 foot container or 8 foot x 40 foot container, depending on the site’s need.
- Its modular and intuitive design makes it “Plug & Play” on-site.
- The offering includes GE Wayne branded dispensers with credit card capability and provision for “Point Of Sale” interface.
- The fuel dispenses at a rate of about 7 gasoline gallon equivalent per minute.
- Aftermarket services for natural gas fueling infrastructure.
- GE’s LNG fueling plants, which adapt GE’s proven large-scale LNG liquefaction technologies to smaller-scale operations. Using LNG as a substitute for diesel or fuel oil can reduce combustion emissions up to 25 percent.
- Development of home refueling technologies.
- Co-marketing of products and services resulting from the partnership.
About Peake Fuel SolutionsPeake Fuel Solutions (PFS) advances innovative fuel solutions with products and services that create demand for clean, affordable natural gas. A significant focus of PFS is to increase compressed natural gas (CNG) and liquefied natural gas (LNG) infrastructure across the U.S. Other PFS projects include development of on-road and off-road technologies that reduce emissions and dramatically cut fuel expenses for the trucking, maritime, rail and oil and gas industries. An affiliate of Chesapeake Energy Corporation, PFS leverages the expertise of other Chesapeake affiliates to implement many of its fuel solutions. Further information is available at www.chk.com. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50195385&lang=en