Stations to Operate 24/7 to Support Expanded Chicago Deployment of
Clean, Green, Cost-Efficient Natural Gas-Powered Taxis, Vans, Shuttles—
Chicago, Illinois (June 16, 2011) — Clean Energy Fuels Corp. (Nasdaq: CLNE), North America’s leading supplier of natural gas fuel for transportation, hosted a ceremony today to mark the opening of two public access compressed natural gas (CNG) fueling stations in Chicago. Part of a planned Chicagoland network, the new natural gas stations will support growing fleets of taxis, paratransit vehicles, service vans, refuse trucks and shuttle buses powered by clean, green, domestic natural gas.
Chicago’s Taxi Medallion Management (TMM) operates over 800 vehicles in Chicago. They currently have vehicles in both Yellow and Checker taxi affiliations. Michael Levine, the owner of TMM and chairman of both Taxi Affiliation Services LLC and American United Taxi Affiliation, Inc., entered into two 15-year contracts with Clean Energy to build and operate the two CNG fueling stations, and supply fuel to the initial TMM CNG fleet of up to 100 vehicles. Included are Ford Transit Connect and Chevy Impala taxis as well as MV-1 paratransit vehicles. In addition to serving the TMM fleet, the stations are open 24/7 for public access.
Located at 540 West Grenshaw Street and 3145 North Western Avenue, the CNG station sites were selected for their proximity to downtown Chicago’s business, hotel, shopping and financial districts.
Government officials and business leaders attended the June 16th reception and ribbon-cutting ceremony at the new Clean Energy West Grenshaw Street station site. Among speakers at the event were T. Boone Pickens, author of the “Pickens Plan” to enhance US energy security, and Michael Levine, Owner, TMM.
Mr. Pickens commented, “Our continuing dependence on OPEC oil is a critical threat to our economy and our national security. The only way to address that threat is to replace their more expensive, dirtier diesel/gasoline with cleaner and cheaper domestic fuels. There are several options, and domestic natural gas is one of them. If we don’t start using our abundant domestic supplies of natural gas for transportation, we are going to go down as the dumbest generation ever.”
TMM’s Levine said, “Taxi Medallion Management has always been committed to providing the best possible service to our drivers and to the community at large in Chicago. To that end we have updated our fleet of vehicles, we have added the latest technology to enhance the taxicab rider’s experience, and now we are taking the next step in metropolitan taxicab evolution, the deployment of alternative fuel vehicles. Our new CNG- powered fleet will drastically reduce the impact of rising fuel prices on our drivers. It will benefit the city by reducing carbon emissions, and it will help begin the process of reducing our nation’s dependency on foreign fuel sources.”
Supporting the local deployment of alternative-fueled cabs, the City of Chicago’s Department of Environment has implemented a Green Taxi program, which reimburses taxi companies that purchase vehicles powered by alternative fuels or hybrid vehicles. Chicago cab companies receive from $9,000 to $14,000 for purchasing a CNG car, and $2,000 for purchasing a hybrid car. The program operates on a first-come, first-serve basis and continues until December 31, 2011.
Delivering considerable fuel savings, often over $1.50 per gallon equivalent when compared to diesel or gasoline based on current market conditions, CNG fuel also produces up to 30% lower greenhouse gas emissions in light-duty vehicles and 23% percent lower emissions in medium to heavy-duty vehicle applications. U.S. Department of Energy reports estimate that 98% of the natural gas consumed in the U.S. is sourced in the U.S. and Canada.
About Clean Energy Fuels — Clean Energy (Nasdaq: CLNE) is the largest provider of natural gas fuel for transportation in North America and a global leader in the expanding natural gas vehicle market. It has operations in CNG and LNG (liquefied natural gas) vehicle fueling, construction and operation of CNG and LNG fueling stations, biomethane production, vehicle conversion and compressor technology.
Clean Energy fuels over 22,700 vehicles at 238 strategic locations across the United States and Canada with a broad customer base in the refuse, transit, trucking, shuttle, taxi, airport and municipal fleet markets. Clean Energy del Peru, a joint venture, fuels vehicles at two stations and provides CNG to commercial customers in Peru. We own (70%) and operate a landfill gas facility in Dallas, Texas, that produces renewable natural gas, or biomethane, for delivery in the nation’s gas pipeline network. We have agreed to build a second facility in Michigan. We own and operate LNG production plants in Willis, Texas and Boron, Calif. with combined capacity of 260,000 LNG gallons per day and that are designed to expand to 340,000 LNG gallons per day as demand increases. NorthStar, a wholly owned subsidiary, is the recognized leader in LNG/LCNG (liquefied to compressed natural gas) fueling system technologies and station construction and operations. BAF Technologies, Inc., a wholly owned subsidiary, is a leading provider of natural gas vehicle systems and conversions for taxis, vans, pick-up trucks and shuttle buses. IMW Industries, Ltd., a wholly owned subsidiary based in Canada, is a leading supplier of compressed natural gas equipment for vehicle fueling and industrial applications with more than 1,200 installations in 24 countries. 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 increase of natural gas-powered vehicles in the Chicago area and the potential impact of replacing diesel and gasoline with natural gas on the environment and the nation’s economy and security. 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 the rate of CNG vehicle procurement and deployment, the price per gallon of natural gas relative to diesel and gasoline, the performance, availability and price of natural gas vehicles relative to gasoline and diesel vehicles, and continuously changing political conditions. 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.