Clean Energy has been heavily focused on creating an ecosystem for natural gas vehicles to be successful. This includes a network of 550 natural gas refueling stations across the country. Natural gas is cheaper than gasoline, but it requires bigger, heavier tanks. So heavy duty trucks and bus fleets make the most sense.
The business case for natural gas vehicles took a big step backwards in recent years as low oil prices made it easier to stick with conventional diesel trucks. In recent months, oil prices have been driven up by OPEC’s sustained efforts to cut back supplies combined with a strong world economy, new sanctions on Iran, and turmoil in Venezuela. Clean Energy Fuels is now looking as attractive than ever, and the company just got a major new investor.
On May 10, Clean Energy Fuels announced that the French oil company Total SA would be investing $83.4 million in the company. This will give Total SA a 25% stake, making it Clean Energy Fuels’ biggest shareholder. The companies plan to partner together on a new leasing program they say will put thousands of new heavy-duty trucks on the road. The focus appears to be on North America, and particularly in the United States where natural gas is so plentiful.
Natural gas vehicle adoption makes sense in America because of the abundant supplies being produced from coast to coast. In our region, cities like Pittsburgh and Columbus have been moving to natural gas bus fleets, for example. These busses are largely fueled by the Marcellus shale formation, and your company can still acquire leases in the area. Just call Cimmaron Land at (412) 212-7517.