NEWPORT BEACH, CALIF. – Clean Energy Fuels Corp., (NASDAQ: CLNE) today announced longtime customer Raven Transport is expanding its clean-burning natural gas fleet with 115 Peterbilt Model 579s, equipped with sleepers and powered by liquefied natural gas (LNG) to haul goods for a leading consumer packaged goods company. Clean Energy will support this fleet by opening truck-friendly natural gas fueling stations in Atlanta, Ga., Birmingham, Ala., Pearl, Miss., and Theodore, Ala. The fleet will also fuel at Clean Energy’s existing Albany, Ga., Charlotte, N.C., Jacksonville, Fla., Houston Baytown, Texas, Latta, S.C., and Valdosta, Ga., stations. Mobile LNG fueling units will also be deployed in Eden, N.C., Newnan, Ga., Ocala, Fla., and Pineville, La., to enable LNG refueling throughout the Southeast.
“Raven is rising to the challenge to move our customers’ goods with clean-burning fuel. Industry-leading shippers continue to set the standard in sustainable logistics, and today’s announcement enables Raven to accommodate these high standards,” said Stephen Silverman, chief operating officer for Raven Transport.
Raven purchased its expanded natural gas truck fleet from Rush Truck Center – Jacksonville, Fla., part of the largest network of commercial vehicle dealerships in the United States, which is owned and operated by Rush Enterprises (NASDAQ: RUSHA and RUSHB). Custom Vehicle Solutions, another Rush Enterprises company, then completed the installation of Chart LNG fuel systems purchased through Clean Energy’s tank pricing program. The fleet will operate on irregular routes originating from production plants and distribution centers in the Southeast and is forecasted to consume approximately 2.4 million additional DGEs of LNG annually.
Natural gas fuel costs up to $1.00 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.
“The natural gas fueling ecology continues to strengthen as America’s largest shippers and their logistics companies transition to natural gas. As these four stations open and join our existing infrastructure it becomes increasingly feasible for fleets hauling in the Southeast and beyond to make the switch to natural gas,” said Chad Lindholm, vice president of Clean Energy.
“We’re proud to provide Raven Transport with our aerodynamic Model 579s powered by LNG, the newest addition to our industry-leading portfolio of natural gas vehicles,” said Robert Woodall, Peterbilt Assistant General Manager, Sales and Marketing. “Peterbilt continues to partner with environmental and alternative fuel leaders as we develop advanced vehicle technologies and solutions to meet their full range of needs.”
“Rush Enterprises is pleased to support Raven Transport, leaders in the alternative fuel space,” said W.M. “Rusty” Rush, Chairman, CEO and President of Rush Enterprises. “With this informed and progressive choice, Raven Transport will continue to drive adoption of alternative fuels, impacting the entire transportation industry,” he said. “Rush Truck Centers has made significant investments to support alternative fuel vehicles with dedicated natural gas bays and certified technicians across the country, allowing us to continue to support Raven Transport with their service needs,” Rush added.
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About Clean Energy
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.
About Custom Vehicle Solutions
Powered by precisions engineering, a can-do attitude and a foundation of trucking industry experience, Custom Vehicle Solutions is a one-stop shop for commercial vehicle engineering, customization and installation services. Our state-of-the-art facilities in Texas and knowledgeable staff of craftsmen, engineers and designers are more than prepared to meet virtually any customization goal. CVS offers an impressive range of services – from thorough PDIs to installing APUs on an entire fleet to designing and engineering a one-of-a-kind truck frame. For more information, please visit cvsolutions.com.
About Rush Enterprises, Inc.
Rush Enterprises is the premier service provider to the commercial vehicle industry and owns and operates the largest network of commercial vehicle dealerships in the United States, representing truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, IC Bus and Blue Bird. The Company’s vehicle centers are strategically located in high traffic areas on or near major highways throughout the United States. These one-stop centers offer an integrated approach to meeting customer needs – from sales of new and used vehicles to aftermarket parts, service and body shop operations plus a wide array of financial services, including financing, insurance, leasing and rental. Rush Enterprises’ operations also provide vehicle up-fitting, chrome accessories and tires. For more information, please visit www.rushenterprises.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 amount of natural gas fuel expected to be consumed by the Raven Transport trucks, the benefits of natural gas relative to gasoline and diesel, the opening of truck-friendly fueling stations and the deployment of mobile LNG fueling units. 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.