Cavendish Expects Switch from Diesel-Generated to CNG Power to Cut Production Costs at Its Prince Edward Island Location by 30%, and Greenhouse Gas Emissions by 28% —
Chilliwack BC, Canada (August 1, 2011) — IMW Industries announced today that it has contracted to supply Canadian food processor Cavendish Farms with a custom CNG compressor system. The new IMW four-compressor configuration will be used to produce CNG fuel to power two adjacent Cavendish production plants in New Annan, Prince Edward Island (PEI).
With no natural gas pipeline on Price Edward Island, natural gas from Canada’s Maritimes and Northeast Pipeline near Port Elgin, New Brunswick, will be compressed by the new IMW CNG system, then transported by truck in large cylinders and off-loaded at a new PEI gas receiving station.
This is the first major bulk CNG transportation application in Canada.
Cavendish Farms, one of North America’s leading producers of frozen potato products,
ranks this gas conversion program as vital to the success of the company’s environmental action and cost efficiency plans.
Cavendish expects to cut production costs by 30%, because CNG averages up to $1.50 or more per gallon lower than the diesel fuel currently used to generate electricity and provide power for its PEI processing plant. In addition, Cavendish expects the use of CNG to cut greenhouse gas emissions, reduce its carbon footprint by 28 percent, and eliminate the need to use oil as the energy source for its production process.
IMW Industries manufactures and services advanced natural gas fueling compressors and related equipment that is sold to station operators and commercial fleets, and has provided more than 1,200 installations in 24 countries. The company operates a manufacturing facility at its headquarters near Vancouver, BC, Canada, as well as a second manufacturing facility near Shanghai, China. IMW is a subsidiary of Clean Energy Fuels Corp. (Nasdaq: CLNE).
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. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors. The forward-looking statements made herein speak only as of the date of this news 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, reports and other documents Clean Energy Fuels Corp. (the company’s corporate parent) 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.