NEWPORT BEACH, Calif. (October 10, 2013) – Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced a multi-year natural gas fuelingagreement to support 36 new natural gas trucks deployed by Raven Transport Inc. Clean Energy plans to support this effort by opening two of itsAmerica’s Natural Gas Highway stations in Jacksonville, Fla., and Franklin, Ohio.
“Raven is a great example of how heavy duty natural gas truck deployment is progressing and we congratulate them for their leadership,” said James Harger, chief marketing officer at Clean Energy. “Raven’s decision to transition to LNG will enable them and their customers to realize the cost and sustainability benefits of natural gas fuel.”
Raven’s 36 new heavy-duty LNG tractors will haul goods for a major U.S. consumer goods company on routes through Georgia and the upper Midwest. The new trucks are forecasted to consume approximately 1 million diesel-gallon-equivalents of LNG per year, which is anticipated to reduce greenhouse gas emissions by nearly 2,000 metric tons per year, or the equivalent of removing 350 passenger cars from the road each year.
“Raven’s success is built on our willingness to tailor logistics to the needs of our customers,” said Stephen Silverman, chief operating officer at Raven Transport. “Environmental stewardship and cost-effective logistics are central to the operating principles of our customers, which is why our investment in a heavy-duty natural gas fleet makes sense.”
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.
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.
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 Raven, and the benefits of natural gas relative to diesel fuel, and the opening of America’s Natural Gas Highway stations. 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 diesel trucks and delays encountered during the construction of natural gas fueling stations. 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.