NEWPORT BEACH, CALIF. – September 16, 2014 – Clean Energy Fuels Corp. (NASDAQ: CLNE) and Mansfield Energy Corp.today announced the formation of Mansfield Clean Energy Partners (MCEP), a joint venture which will provide natural gas fueling solutions to bulk fuel haulers in the United States, a segment that consumes over three billion gallons of fuel every year. Ira G. Pearl, a veteran of the natural gas industry, has been tapped to lead the Mansfield Clean Energy Partners team.
MCEP’s first customer will be Mansfield Oil Company, one of the nation’s largest providers of transportation fuel, which has deployed the first of its recently-purchased 12 heavy-duty compressed natural gas (CNG) trucks to haul diesel and gasoline for its customers. This fleet of CNG trucks will fuel at a new Atlanta, Ga., area card-lock natural gas station available to fleets throughout the region. The station was built by Clean Energy and forecasted to open by November 2014. A second natural gas fueling station in Tampa, Fla., which will support additional Mansfield CNG trucks as well as other regional and national bulk fuel haulers, is expected to open in early 2015.
“As a family-owned company, Mansfield is committed to responsibly operating within the communities where we do business,” said Michael Mansfield, CEO of Mansfield. “Creating this partnership with Clean Energy and deploying natural gas trucks is preparing us for the future and will allow other bulk fuel haulers to take advantage of the benefits of clean-burning natural gas.”
“The deep relationships Mansfield has built with America’s bulk fuel haulers are virtually un-paralleled,” said Andrew J. Littlefair, president and CEO of Clean Energy. “Our joint sales forces will leverage these relationships and Clean Energy’s natural gas fueling expertise to offer the critical market segment of bulk fuel haulers the best natural gas fueling solutions on the market.”
MCEP is in advanced discussions with several bulk fuel trucking companies, representing potentially over 100 new heavy-duty CNG trucks. To support these Class 8 natural gas trucks, MCEP will develop new public-access natural gas fueling stations throughout the United States in addition to the Atlanta and Tampa facilities.
Mansfield is uniquely positioned to serve the bulk fuel hauling market because of the Company’s over half-century experience in the refined fuel products supply chain and its deep relationships in this business. Clean Energy has built more natural gas stations than any other company in the United States including almost 100 stations which are currently opened and can accommodate Class 8 tractors.
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. In addition, nearly all natural gas consumed in North America is produced domestically.
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About Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading 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; develop renewable natural gas (RNG) production facilities; and deliver more CNG, LNG and Redeem RNG fuel than any other company in the U.S. For more information, visit www.cleanenergyfuels.com.
Ranked as one of the Top 50 privately held companies in America by Forbes magazine, Mansfield defines the next generation transportation fuels company. Founded in 1957, the company has achieved double-digit growth for three decades by focusing on optimizing and controlling fuel-related costs for its customers using innovation, technology and high touch service. Mansfield’s corporate headquarters is located in Gainesville, GA, with regional operations centers located in Mark, Illinois, Detroit, Denver, Loma Linda, California, Houston, Calgary and renewable energy operations in Bloomington, MN. For more information, visit www.mansfieldoil.com.
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 without limitation statements about the number of trucks expected to be deployed and the amount of natural gas fuel expected to be consumed by Mansfield Oil Company and other bulk fuel hauling companies, the benefits of natural gas relative to gasoline and diesel, and construction of stations in Atlanta, GA, Tampa, FL, and other locations. 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, without limitation, the price of natural gas relative to gasoline and diesel, the cost and operating experience associated with natural gas trucks, and permitting and other factors affecting construction. 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.