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Monday, December 20, 2010 1:45:50 AM
14 Jul, 2010
Questar Transportation Services and Applied LNG Technologies to explore new liquefied natural gas projects
Questar Transportation Services Company (QTS) and Applied LNG Technologies, LLC (ALT) today announced they have signed a memorandum of understanding (MOU) establishing a framework for the companies to jointly explore new market opportunities for Rockies liquefied natural gas (LNG).
QTS, a subsidiary of Salt Lake City-based Questar Corporation, provides natural gas midstream field services, including gas gathering and processing. Headquartered in California, ALT, a subsidiary of Applied Natural Gas Fuels, Inc., is a producer and distributor of transportation- and industrial-grade LNG on the West Coast and in the Southwest.
Under the MOU announced today, QTS and ALT intend to accelerate market expansion of LNG products and services in the Rockies, primarily in the transportation and manufacturing sectors. The business framework is designed to increase net-to-the-well prices for Rockies producers supplying gas to this new market.
"The MOU sets the stage for ALT and QTS to jointly work with Rockies gas producers to develop LNG projects to serve large fleet owners and industrial users with a domestically produced, more environmentally friendly fuel that costs less than gasoline or diesel fuels. We hope to build on the leading role our affiliate, Questar Gas, has developed expanding CNG refueling capability in Utah," said R. Allan Bradley, Executive Vice President of Questar Corporation.
"The agreement signed today by QTS and ALT establishes a promising collaboration between two long-time natural gas providers," added Cem Hacioglu, President and CEO of ALT. "It will help us meet the growing demand from our nation's large trucking fleets, industrial users of propane and oil, and intermodal transportation and rail companies for proven alternatives to traditional fuels that are also less expensive and produce fewer harmful emissions."
About Questar Corporation:
Questar Corporation is a natural gas-focused energy company. Its subsidiaries include:
•Wexpro Company, which develops and produces natural gas on behalf of Questar Gas Company's utility customers;
•Questar Pipeline Company, which operates interstate natural gas pipelines and storage facilities and provides other energy services in the western United States; and
•Questar Gas Company, a regulated natural gas distribution utility serving over 900,000 homes and businesses in Utah, Wyoming, and Idaho.
About Applied LNG Technologies, LLC:
Applied LNG Technologies, LLC (ALT) produces and markets liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2 million gallons per month of vehicle-grade LNG. Along with that facility and other LNG production facilities, ALT has the capability of supplying the Western and Southwestern United States with commercial quantities of vehicle-grade LNG fuel. ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT's customer base includes large municipal and transit fleets, various refuse companies, major ports and other commercial trucking fleets. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by Applied Natural Gas Fuels, Inc. (OTCBB: AGAS).
Questar Corporation Contact
Media: Steve Chapman, 801-324-5548, Steve.Chapman@questar.com
Financial: Martin H. Craven, 801-324-5077, Martin.Craven@Questar.com
Applied LNG Technologies, LLC Contact
Media: Linda Berndt, 214-864-1886, info@altlng.com
Financial: Brad Gabbard, 303-619-2747, info@altlng.com
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
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17 Jun, 2010
Applied LNG Technologies Provides Liquefied Natural Gas to Speedy Fuel in the Ports of Los Angeles & Long Beach
June 17, 2010
Long Beach, CA
On Friday, June 11, 2010, Speedy Fuel held a Ribbon Cutting Ceremony for its first full service liquefied natural gas (LNG) fueling station to serve heavy-duty class-8 trucks in the Ports of Los Angeles and Long Beach. Applied LNG Technologies (ALT) supplies LNG to the popular multi-fuel public access station that will offer truck owners and operators full traditional retail access, immediately off the 710 Freeway and Anaheim Street at 1234 Cowles Street, Long Beach, CA, 90805. President Nick Sramek, Port of Long Beach; Vice Mayor Val Lerch, City of Long Beach; and Councilwoman Tonya Reyes Uranga, City of Long Beach were among the dignitaries who spoke at the event.
"It gives me an immense pleasure to be here today celebrating the grand opening of this first ever LNG station in the Ports of Los Angeles & Long Beach that is entirely funded through private funds," said Cem Hacioglu, President & CEO, ALT. "I remember vividly the day Levon and Greg discussed their vision for this station. Despite being one of the largest diesel retailers in the Ports, the Termendzhyan brothers had the foresight to realize the importance of LNG as an alternative fuel."
Speedy Fuel completed this project in record time and without any help from public funds. The station has begun fueling operations within 60 days following initial groundbreaking providing trucking companies and independent owner operators a much needed alternative fueling location within the Ports.
Speedy Fuel and ALT are working together to expand LNG supply at two additional Speedy Fuel locations in the Southland. The additional stations are currently in the planning/development stages and are expected to be opened in 2011.
LNG meets California's strict emission standards and is now more readily available for use by commercial vehicles, heavy-duty trucks, utility companies, fleets, and other natural gas vehicles. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
About Speedy Fuel, Inc.
Speedy Fuel, Inc., owns and operates several fuel stations around Southern California. Speedy Fuel also distributes fuel through the Speedy Fuel Transportation subsidiary. Speedy Fuel is a leader in alternative fueling being the first private station in Southern California to provide an array of fuel choices to customers including the newest addition of liquefied natural gas (LNG) at its station just outside the Ports of Los Angeles and Long Beach.
About Applied LNG Technologies, LLC
Applied LNG Technologies, LLC (ALT) produces, markets and distributes liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2 million gallons per month of vehicle-grade LNG. ALT provides LNG and compressed natural gas (CNG) product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT's customer base includes large municipal and transit fleets, various refuse companies, major ports and other commercial trucking fleets. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by Applied Natural Gas Fuels, Inc. (OTCBB: AGAS
Forward Looking Statements:This 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 future station development. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact:
Scott M. Johns
Regional Sales Manager
(949) 294-9435
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7 Apr, 2010
DRAFT 2010 Update to the San Pedro Bay Ports Clean Air Action Plan
In five years, under the Clean Air Action Plan, diesel PM from all port-related sources would be reduced by a total of 1,200 tons per year. NOx emissions would be reduced by 12,000 tons per year, and SOx emissions would be reduced by 8,900 tons a year.[1]
Pollution Reduction Strategies:
* The Clean Air Action Plan addresses every category of port-related emission sources: ships, trucks, trains, cargo-handling equipment and harbor craft and outlines specific, detailed strategies to reduce emissions from each category.
* The ports propose to eliminate dirty diesel trucks from San Pedro Bay cargo terminals within five years.
* The ports will join with the state and local agencies to finance programs to replace trucks with a new generation of clean or retrofitted vehicles.
* The ports, along with the South Coast Air Quality Management District, propose to allocate more than $200 million over five years towards this effort and will also aggressively seek state bond funding to assist with this massive truck replacement initiative.
* As part of the Plan, all major container cargo and cruise ship terminals at the ports would be equipped with shore-side electricity within five to ten years so that vessels can shut down their diesel-powered engines while at berth.
* Ships also would be required to reduce their speeds when entering or leaving the harbor region, use low-sulfur fuels, and employ other emissions reduction measures and technologies.
* Within five years all cargo-handling equipment would be replaced or retrofitted to meet or emit at levels below those called for in the toughest U.S. Environmental Protection Agency emissions standards for new equipment.
* Without the Clean Air Action Plan, much of the cargo handling equipment not affected by the California Air Resource Board's recently adopted cargo handling equipment regulation would be allowed to operate at current emission levels until it wears out.
* Within five years all switching locomotives operating in the Ports also will meet the toughest U.S. Environmental Protection Agency standards for new locomotives, use cleaner fuels and exhaust treatment and devices that will automatically shut off engines to prevent extensive idling.
* In addition, all new rail yards must use the cleanest technologies available for locomotives, trucks, and cargo handling equipment within their facilities.
* The Plan also includes a far-reaching research component to address and ultimately overcome obstacles that impair the utilization of the cleanest vessels, engines and equipment in the world at the ports of Los Angeles and Long Beach.
For full text of the DRAFT Final 2010 CAAP Update, visit http://www.cleanairactionplan.org/civica/filebank/blobdload.asp?BlobID=2441
[1] http://www.cleanairactionplan.org/news/displaynews.asp?NewsID=25&targetid=2
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24 Mar, 2010
PNG Ventures, Inc. and Subsidiaries Emerge from Chapter 11 Reorganization
Significantly Deleveraged Company Well Positioned to Execute Aggressive Growth Plans
Company to Change Name to “Applied Natural Gas Fuels, Inc.”
Dallas, Texas (March 24, 2010) PNG Ventures, Inc. (OTCBB:PNGXQ) today announced it and its wholly owned subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc. (collectively, the “Company”), have successfully emerged from the voluntary reorganization filed on September 9, 2009 under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Plan of Reorganization, confirmed on March 12, 2010 resulted in conversion of a majority of the Company’s outstanding debt to new common equity, and eliminated or mitigated the impact of certain onerous contracts inherited as part of the Company’s June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.
Throughout the reorganization process, the Company operated its business in the ordinary course. The Company’s day-to-day operations and delivery of products or services to its customers were not adversely affected by the Chapter 11 filing.
Cem Hacioglu, President & CEO of PNG Ventures, said, “We are very happy to have successfully completed this critical process within a short period and are excited about the prospects of our new company going forward. Having recapitalized our balance sheet and eliminated a number of debilitating operational and financial impediments, we are now superbly positioned to take advantage of the tremendous growth opportunities in the alternative fuels market and become the preeminent provider of cleaner burning fuels for the domestic and international markets.”
Mr. Hacioglu continued, “On behalf of our Board of Directors and management team, we would like to thank our employees and professional team for their hard work, perseverance and dedication. We would also like to thank our Plan sponsors, Medley Capital and Sandell Asset Management for their faith in us and our long-term prospects. Most especially, however, we would like to thank our customers, suppliers and other business partners for their patience throughout this arduous process. We will continue to work very hard to be deserving of the trust and confidence they have placed in us and our Company.”
As part of the Plan of Reorganization, the majority of the Company’s senior credit facility was converted into approximately 66% of the common stock of the newly organized Company with the balance settled for a combination of cash and a $9.8 million four-year term loan. In addition, the Company’s trade and unsecured debts were exchanged for a creditor trust of approximately $1.2 million and 7.5% of the common stock of the newly reorganized Company. The Plan was funded by approximately $8.3 mm in return for a combination of approximately 26.5% of the common stock of the newly reorganized Company, a new $5.5 million four-year term loan and $250,000 short-term loan. Previously outstanding equity, including all options, warrants and other derivative instruments linked to that equity, was eliminated as part of the Plan. The Company remains a public entity and, upon completion of the customary regulatory review and distribution of the creditor shares, should resume trading under a new symbol based on the name Applied Natural Gas Fuels, Inc.
The foregoing is intended as a summary of the terms of the final Plan of Reorganization and confirmation process. A more detailed description can be found within the Company’s Current Report on Form 8-K which will be filed with the Securities and Exchange Commission. A copy of the Plan and Disclosure Statement are available at www.altlng.com.
About Applied Natural Gas Fuels, Inc. (formerly known as “PNG Ventures, Inc.”)
Through its Applied LNG Technologies and other subsidiaries, the Company engages in the production, distribution, and sale of liquefied natural gas (“LNG”) to customers consisting of public utilities, industrial end-users and other fleet customers within the transportation, manufacturing, distribution, and municipal markets, primarily in California, Arizona, and Nevada. The Company also offers turnkey fuel solutions, including delivery, equipment storage, fuel dispensing equipment, and fuel loading facilities.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to successfully implement its Plan of Reorganization as confirmed; the Company’s ability to implement its business model as it has now emerged from bankruptcy protection; the Company’s ability to maintain its operations as a going concern and to service the newly restructured indebtedness it has incurred under its Plan of Reorganization; the Company’s ability to obtain and maintain normal terms with vendors, service providers, and leaseholders now that it has emerged from bankruptcy proceedings; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; and statements or assumption underlying the Company’s Plan of Reorganization and any of the foregoing, as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission and other filings with the SEC. Similarly, these and other factors, including the terms and impact of the Plan of Reorganization, as confirmed, can affect the value of the Company’s equity securities. No assurances can be provided as to when, if at all, the Company’s new securities may be listed on a national securities exchange or on the over-the-counter market, or as to when, if at all, a trading market may be developed in the Company’s securities. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.
Contact:
Rachel Croft, 214-613-0214
info@altlng.com
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10 Sep, 2009
PNG Ventures, Inc. and Subsidiaries File Voluntary Petitions for Reorganization under Chapter 11 of the United States Bankruptcy Code
Company plans to implement debt restructuring to enhance operations and convert majority of debt to new equity
Dallas, Texas (September 10, 2009) PNG Ventures, Inc. today announced it and its wholly owned subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc. (collectively, the “Company”), filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The filings were made to facilitate a broad-based debt restructuring plan which contemplates conversion of a majority of the Company’s outstanding debt to new common equity, and to mitigate the impact of certain onerous contracts inherited as part of the Company’s June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.
Throughout the reorganization process, the Company will continue to operate its business in the ordinary course and does not expect that the Chapter 11 filing will have any adverse effect on its day-to-day operations or delivery of products or services to its customers.
Cem Hacioglu, President & CEO of PNG Ventures, said “Restructuring and recapitalizing our balance sheet is a critical step in positioning the Company to take advantage of the tremendous growth opportunities in the alternative fuels market. Today’s action will allow us to secure long-term relief from some of the debilitating legacy debt and operational impediments we inherited when the Company acquired its baseline LNG operations from Earth Biofuels in June 2008 and maintain our leadership position in providing innovative natural gas based fueling solutions to our customers. We will emerge from this process with substantially less debt and a dramatically improved capital structure which, in turn, will position us to be a stronger competitor and further support our long-term objective of becoming the preeminent provider of cleaner burning fuels for the domestic and international markets.”
In conjunction with its Chapter 11 petitions and standard and customary first day motions, the Company’s filing included a proposed Plan of Reorganization (the “Plan”) that contemplates, among others: (i) settlement of the majority of the Company’s senior credit facility for approximately 66% of the common stock of the newly reorganized Company, with the balance being settled for a combination of cash and a new four-year term loan; (ii) settlement of the Company’s trade debt and unsecured debt for approximately 28% of allowable claim amounts and 7.5% of the common stock of the newly reorganized Company; and (iii) securing financing of approximately $8.4 million to fund the Plan, for a combination of a new four-year term loan and approximately 26.5% of the new common stock of the newly reorganized Company. Under the proposed Plan, our existing equity would be eliminated, including all options, warrants and other derivative instruments that are linked to our existing equity.
The foregoing is intended as a summary of the terms of the Plan. A more detailed description can be found within the Company’s Current Report on Form 8-K which will be filed with the Securities and Exchange Commission. A copy of the Plan and Disclosure Statement are available at www.altlng.com. As the Plan and Disclosure Statement have not yet been approved by the Court, the Plan and Disclosure Statement may be materially modified before approval.
The Company’s bankruptcy counsel is Fox Rothschild, LLP.
This press release is for informational purposes only and is not a solicitation to accept or reject the Plan or an offer to sell or a solicitation of an offer to purchase any securities of the Company. Any solicitation or offer to sell will only be made pursuant to and in accordance with the Disclosure Statement and Plan of Reorganization distributed in accordance with the Bankruptcy Code, securities laws and other applicable laws and regulations.
About PNG Ventures, Inc.
Through its Applied LNG Technologies and other subsidiaries, the Company engages in the production, distribution, and sale of liquefied natural gas (“LNG”) to customers consisting of public utilities, industrial end-users and other fleet customers within the transportation, manufacturing, distribution, and municipal markets, primarily in California, Arizona, and Nevada. The Company also offers turnkey fuel solutions, including delivery, equipment storage, fuel dispensing equipment, and fuel loading facilities.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the Company’s ability to obtain court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period that the Company has to propose and confirm a Plan of Reorganization; the appointment of a Chapter 11 trustee or examiner or to convert the Company’s bankruptcy cases to cases under Chapter 7 of the U.S. Bankruptcy Code; the Company’s ability to obtain and maintain normal terms with vendors, service providers, and leaseholders and to obtain orders authorizing payments to such parties; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission and other filings with the SEC. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. Accordingly, the Company urges that the appropriate caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.
Contact:
Rachel Croft
214-613-0214
or email: info@altlng.com
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6 Feb, 2009
PNG Ventures, Inc. Appoints Cem Hacioglu as President and Chief Executive Officer
The Board of Directors of PNG Ventures, Inc. (OTCBB:PNGX) announced today that it has appointed Cem Hacioglu as President and Chief Executive Officer, effective February 16, 2009.
PNG Ventures, Inc. produces liquefied natural gas ("LNG") from its production facility in Topock, AZ through its wholly-owned subsidiary Applied LNG Technologies USA, LLC (ALT). ALT currently produces and distributes over two million gallons monthly of vehicle-grade LNG to municipal and commercial transportation markets in the western United States.
“ALT has the potential to be the preeminent competitor in the growing LNG and alternative fuels market,” said Hacioglu. “I am grateful to our interim CEO, Kevin Markey, for his leadership during this critical transition period and intend to build upon his accomplishments. I look forward to working closely with him in his capacity as the Vice President of Sales and Operations of PNG Ventures.”
Hacioglu, 38, will continue to serve as a director of PNG, a position he has held since August 20, 2008. A co-portfolio manager of the Direct Investment Group of Sandell Asset Management Corp. since May 2005, a shareholder PNG, and former portfolio manager of Millennium Partners where he helped manage Millennium's direct investment portfolio, Hacioglu has held various positions at Fletcher Asset Management, Merrill Lynch and the World Bank. He earned his B.S. Degree in Economics from the United States Military Academy, West Point, and his M.B.A. in Financial Management from the MIT Sloan School of Management.
PNG Chairman of the Board, W. Phillip Marcum, said, “We are happy that Cem has agreed to become President and Chief Executive Officer of PNGX and look forward to the future growth and success of the Company under Cem’s leadership."
About ALT
Applied LNG Technology (ALT) produces and markets liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2-Million gallons monthly of vehicle-grade LNG. Along with that facility and other LNG production facilities, ALT has the capability of supplying the western and southwestern United States with commercial quantities of vehicle-grade LNG fuel. ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT’s customer base includes large municipal fleets, various refuse companies, major ports and other commercial trucking fleets. Possible feedstock sources for LNG production include landfill gases or methane sources from agricultural biomass facilities. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by PNG Ventures, Inc. (OTCBB: PNGX).
Questar Transportation Services and Applied LNG Technologies to explore new liquefied natural gas projects
Questar Transportation Services Company (QTS) and Applied LNG Technologies, LLC (ALT) today announced they have signed a memorandum of understanding (MOU) establishing a framework for the companies to jointly explore new market opportunities for Rockies liquefied natural gas (LNG).
QTS, a subsidiary of Salt Lake City-based Questar Corporation, provides natural gas midstream field services, including gas gathering and processing. Headquartered in California, ALT, a subsidiary of Applied Natural Gas Fuels, Inc., is a producer and distributor of transportation- and industrial-grade LNG on the West Coast and in the Southwest.
Under the MOU announced today, QTS and ALT intend to accelerate market expansion of LNG products and services in the Rockies, primarily in the transportation and manufacturing sectors. The business framework is designed to increase net-to-the-well prices for Rockies producers supplying gas to this new market.
"The MOU sets the stage for ALT and QTS to jointly work with Rockies gas producers to develop LNG projects to serve large fleet owners and industrial users with a domestically produced, more environmentally friendly fuel that costs less than gasoline or diesel fuels. We hope to build on the leading role our affiliate, Questar Gas, has developed expanding CNG refueling capability in Utah," said R. Allan Bradley, Executive Vice President of Questar Corporation.
"The agreement signed today by QTS and ALT establishes a promising collaboration between two long-time natural gas providers," added Cem Hacioglu, President and CEO of ALT. "It will help us meet the growing demand from our nation's large trucking fleets, industrial users of propane and oil, and intermodal transportation and rail companies for proven alternatives to traditional fuels that are also less expensive and produce fewer harmful emissions."
About Questar Corporation:
Questar Corporation is a natural gas-focused energy company. Its subsidiaries include:
•Wexpro Company, which develops and produces natural gas on behalf of Questar Gas Company's utility customers;
•Questar Pipeline Company, which operates interstate natural gas pipelines and storage facilities and provides other energy services in the western United States; and
•Questar Gas Company, a regulated natural gas distribution utility serving over 900,000 homes and businesses in Utah, Wyoming, and Idaho.
About Applied LNG Technologies, LLC:
Applied LNG Technologies, LLC (ALT) produces and markets liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2 million gallons per month of vehicle-grade LNG. Along with that facility and other LNG production facilities, ALT has the capability of supplying the Western and Southwestern United States with commercial quantities of vehicle-grade LNG fuel. ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT's customer base includes large municipal and transit fleets, various refuse companies, major ports and other commercial trucking fleets. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by Applied Natural Gas Fuels, Inc. (OTCBB: AGAS).
Questar Corporation Contact
Media: Steve Chapman, 801-324-5548, Steve.Chapman@questar.com
Financial: Martin H. Craven, 801-324-5077, Martin.Craven@Questar.com
Applied LNG Technologies, LLC Contact
Media: Linda Berndt, 214-864-1886, info@altlng.com
Financial: Brad Gabbard, 303-619-2747, info@altlng.com
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance, and often contain words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
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17 Jun, 2010
Applied LNG Technologies Provides Liquefied Natural Gas to Speedy Fuel in the Ports of Los Angeles & Long Beach
June 17, 2010
Long Beach, CA
On Friday, June 11, 2010, Speedy Fuel held a Ribbon Cutting Ceremony for its first full service liquefied natural gas (LNG) fueling station to serve heavy-duty class-8 trucks in the Ports of Los Angeles and Long Beach. Applied LNG Technologies (ALT) supplies LNG to the popular multi-fuel public access station that will offer truck owners and operators full traditional retail access, immediately off the 710 Freeway and Anaheim Street at 1234 Cowles Street, Long Beach, CA, 90805. President Nick Sramek, Port of Long Beach; Vice Mayor Val Lerch, City of Long Beach; and Councilwoman Tonya Reyes Uranga, City of Long Beach were among the dignitaries who spoke at the event.
"It gives me an immense pleasure to be here today celebrating the grand opening of this first ever LNG station in the Ports of Los Angeles & Long Beach that is entirely funded through private funds," said Cem Hacioglu, President & CEO, ALT. "I remember vividly the day Levon and Greg discussed their vision for this station. Despite being one of the largest diesel retailers in the Ports, the Termendzhyan brothers had the foresight to realize the importance of LNG as an alternative fuel."
Speedy Fuel completed this project in record time and without any help from public funds. The station has begun fueling operations within 60 days following initial groundbreaking providing trucking companies and independent owner operators a much needed alternative fueling location within the Ports.
Speedy Fuel and ALT are working together to expand LNG supply at two additional Speedy Fuel locations in the Southland. The additional stations are currently in the planning/development stages and are expected to be opened in 2011.
LNG meets California's strict emission standards and is now more readily available for use by commercial vehicles, heavy-duty trucks, utility companies, fleets, and other natural gas vehicles. Vehicles fueled by the transportation grade LNG produce approximately one-sixth of the nitrous oxides (NOx) and up to 15 percent less greenhouse gases than comparable petroleum diesel fueled vehicles.
About Speedy Fuel, Inc.
Speedy Fuel, Inc., owns and operates several fuel stations around Southern California. Speedy Fuel also distributes fuel through the Speedy Fuel Transportation subsidiary. Speedy Fuel is a leader in alternative fueling being the first private station in Southern California to provide an array of fuel choices to customers including the newest addition of liquefied natural gas (LNG) at its station just outside the Ports of Los Angeles and Long Beach.
About Applied LNG Technologies, LLC
Applied LNG Technologies, LLC (ALT) produces, markets and distributes liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2 million gallons per month of vehicle-grade LNG. ALT provides LNG and compressed natural gas (CNG) product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT's customer base includes large municipal and transit fleets, various refuse companies, major ports and other commercial trucking fleets. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by Applied Natural Gas Fuels, Inc. (OTCBB: AGAS
Forward Looking Statements:This 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 future station development. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact:
Scott M. Johns
Regional Sales Manager
(949) 294-9435
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7 Apr, 2010
DRAFT 2010 Update to the San Pedro Bay Ports Clean Air Action Plan
In five years, under the Clean Air Action Plan, diesel PM from all port-related sources would be reduced by a total of 1,200 tons per year. NOx emissions would be reduced by 12,000 tons per year, and SOx emissions would be reduced by 8,900 tons a year.[1]
Pollution Reduction Strategies:
* The Clean Air Action Plan addresses every category of port-related emission sources: ships, trucks, trains, cargo-handling equipment and harbor craft and outlines specific, detailed strategies to reduce emissions from each category.
* The ports propose to eliminate dirty diesel trucks from San Pedro Bay cargo terminals within five years.
* The ports will join with the state and local agencies to finance programs to replace trucks with a new generation of clean or retrofitted vehicles.
* The ports, along with the South Coast Air Quality Management District, propose to allocate more than $200 million over five years towards this effort and will also aggressively seek state bond funding to assist with this massive truck replacement initiative.
* As part of the Plan, all major container cargo and cruise ship terminals at the ports would be equipped with shore-side electricity within five to ten years so that vessels can shut down their diesel-powered engines while at berth.
* Ships also would be required to reduce their speeds when entering or leaving the harbor region, use low-sulfur fuels, and employ other emissions reduction measures and technologies.
* Within five years all cargo-handling equipment would be replaced or retrofitted to meet or emit at levels below those called for in the toughest U.S. Environmental Protection Agency emissions standards for new equipment.
* Without the Clean Air Action Plan, much of the cargo handling equipment not affected by the California Air Resource Board's recently adopted cargo handling equipment regulation would be allowed to operate at current emission levels until it wears out.
* Within five years all switching locomotives operating in the Ports also will meet the toughest U.S. Environmental Protection Agency standards for new locomotives, use cleaner fuels and exhaust treatment and devices that will automatically shut off engines to prevent extensive idling.
* In addition, all new rail yards must use the cleanest technologies available for locomotives, trucks, and cargo handling equipment within their facilities.
* The Plan also includes a far-reaching research component to address and ultimately overcome obstacles that impair the utilization of the cleanest vessels, engines and equipment in the world at the ports of Los Angeles and Long Beach.
For full text of the DRAFT Final 2010 CAAP Update, visit http://www.cleanairactionplan.org/civica/filebank/blobdload.asp?BlobID=2441
[1] http://www.cleanairactionplan.org/news/displaynews.asp?NewsID=25&targetid=2
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24 Mar, 2010
PNG Ventures, Inc. and Subsidiaries Emerge from Chapter 11 Reorganization
Significantly Deleveraged Company Well Positioned to Execute Aggressive Growth Plans
Company to Change Name to “Applied Natural Gas Fuels, Inc.”
Dallas, Texas (March 24, 2010) PNG Ventures, Inc. (OTCBB:PNGXQ) today announced it and its wholly owned subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc. (collectively, the “Company”), have successfully emerged from the voluntary reorganization filed on September 9, 2009 under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The Plan of Reorganization, confirmed on March 12, 2010 resulted in conversion of a majority of the Company’s outstanding debt to new common equity, and eliminated or mitigated the impact of certain onerous contracts inherited as part of the Company’s June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.
Throughout the reorganization process, the Company operated its business in the ordinary course. The Company’s day-to-day operations and delivery of products or services to its customers were not adversely affected by the Chapter 11 filing.
Cem Hacioglu, President & CEO of PNG Ventures, said, “We are very happy to have successfully completed this critical process within a short period and are excited about the prospects of our new company going forward. Having recapitalized our balance sheet and eliminated a number of debilitating operational and financial impediments, we are now superbly positioned to take advantage of the tremendous growth opportunities in the alternative fuels market and become the preeminent provider of cleaner burning fuels for the domestic and international markets.”
Mr. Hacioglu continued, “On behalf of our Board of Directors and management team, we would like to thank our employees and professional team for their hard work, perseverance and dedication. We would also like to thank our Plan sponsors, Medley Capital and Sandell Asset Management for their faith in us and our long-term prospects. Most especially, however, we would like to thank our customers, suppliers and other business partners for their patience throughout this arduous process. We will continue to work very hard to be deserving of the trust and confidence they have placed in us and our Company.”
As part of the Plan of Reorganization, the majority of the Company’s senior credit facility was converted into approximately 66% of the common stock of the newly organized Company with the balance settled for a combination of cash and a $9.8 million four-year term loan. In addition, the Company’s trade and unsecured debts were exchanged for a creditor trust of approximately $1.2 million and 7.5% of the common stock of the newly reorganized Company. The Plan was funded by approximately $8.3 mm in return for a combination of approximately 26.5% of the common stock of the newly reorganized Company, a new $5.5 million four-year term loan and $250,000 short-term loan. Previously outstanding equity, including all options, warrants and other derivative instruments linked to that equity, was eliminated as part of the Plan. The Company remains a public entity and, upon completion of the customary regulatory review and distribution of the creditor shares, should resume trading under a new symbol based on the name Applied Natural Gas Fuels, Inc.
The foregoing is intended as a summary of the terms of the final Plan of Reorganization and confirmation process. A more detailed description can be found within the Company’s Current Report on Form 8-K which will be filed with the Securities and Exchange Commission. A copy of the Plan and Disclosure Statement are available at www.altlng.com.
About Applied Natural Gas Fuels, Inc. (formerly known as “PNG Ventures, Inc.”)
Through its Applied LNG Technologies and other subsidiaries, the Company engages in the production, distribution, and sale of liquefied natural gas (“LNG”) to customers consisting of public utilities, industrial end-users and other fleet customers within the transportation, manufacturing, distribution, and municipal markets, primarily in California, Arizona, and Nevada. The Company also offers turnkey fuel solutions, including delivery, equipment storage, fuel dispensing equipment, and fuel loading facilities.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to successfully implement its Plan of Reorganization as confirmed; the Company’s ability to implement its business model as it has now emerged from bankruptcy protection; the Company’s ability to maintain its operations as a going concern and to service the newly restructured indebtedness it has incurred under its Plan of Reorganization; the Company’s ability to obtain and maintain normal terms with vendors, service providers, and leaseholders now that it has emerged from bankruptcy proceedings; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; and statements or assumption underlying the Company’s Plan of Reorganization and any of the foregoing, as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission and other filings with the SEC. Similarly, these and other factors, including the terms and impact of the Plan of Reorganization, as confirmed, can affect the value of the Company’s equity securities. No assurances can be provided as to when, if at all, the Company’s new securities may be listed on a national securities exchange or on the over-the-counter market, or as to when, if at all, a trading market may be developed in the Company’s securities. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.
Contact:
Rachel Croft, 214-613-0214
info@altlng.com
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10 Sep, 2009
PNG Ventures, Inc. and Subsidiaries File Voluntary Petitions for Reorganization under Chapter 11 of the United States Bankruptcy Code
Company plans to implement debt restructuring to enhance operations and convert majority of debt to new equity
Dallas, Texas (September 10, 2009) PNG Ventures, Inc. today announced it and its wholly owned subsidiaries, New Earth LNG, LLC, Arizona LNG, LLC, Applied LNG Technologies USA, LLC, Fleet Star, Inc., and Earth Leasing, Inc. (collectively, the “Company”), filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Court”). The filings were made to facilitate a broad-based debt restructuring plan which contemplates conversion of a majority of the Company’s outstanding debt to new common equity, and to mitigate the impact of certain onerous contracts inherited as part of the Company’s June 30, 2008 Share Exchange Transaction with Earth Biofuels, Inc.
Throughout the reorganization process, the Company will continue to operate its business in the ordinary course and does not expect that the Chapter 11 filing will have any adverse effect on its day-to-day operations or delivery of products or services to its customers.
Cem Hacioglu, President & CEO of PNG Ventures, said “Restructuring and recapitalizing our balance sheet is a critical step in positioning the Company to take advantage of the tremendous growth opportunities in the alternative fuels market. Today’s action will allow us to secure long-term relief from some of the debilitating legacy debt and operational impediments we inherited when the Company acquired its baseline LNG operations from Earth Biofuels in June 2008 and maintain our leadership position in providing innovative natural gas based fueling solutions to our customers. We will emerge from this process with substantially less debt and a dramatically improved capital structure which, in turn, will position us to be a stronger competitor and further support our long-term objective of becoming the preeminent provider of cleaner burning fuels for the domestic and international markets.”
In conjunction with its Chapter 11 petitions and standard and customary first day motions, the Company’s filing included a proposed Plan of Reorganization (the “Plan”) that contemplates, among others: (i) settlement of the majority of the Company’s senior credit facility for approximately 66% of the common stock of the newly reorganized Company, with the balance being settled for a combination of cash and a new four-year term loan; (ii) settlement of the Company’s trade debt and unsecured debt for approximately 28% of allowable claim amounts and 7.5% of the common stock of the newly reorganized Company; and (iii) securing financing of approximately $8.4 million to fund the Plan, for a combination of a new four-year term loan and approximately 26.5% of the new common stock of the newly reorganized Company. Under the proposed Plan, our existing equity would be eliminated, including all options, warrants and other derivative instruments that are linked to our existing equity.
The foregoing is intended as a summary of the terms of the Plan. A more detailed description can be found within the Company’s Current Report on Form 8-K which will be filed with the Securities and Exchange Commission. A copy of the Plan and Disclosure Statement are available at www.altlng.com. As the Plan and Disclosure Statement have not yet been approved by the Court, the Plan and Disclosure Statement may be materially modified before approval.
The Company’s bankruptcy counsel is Fox Rothschild, LLP.
This press release is for informational purposes only and is not a solicitation to accept or reject the Plan or an offer to sell or a solicitation of an offer to purchase any securities of the Company. Any solicitation or offer to sell will only be made pursuant to and in accordance with the Disclosure Statement and Plan of Reorganization distributed in accordance with the Bankruptcy Code, securities laws and other applicable laws and regulations.
About PNG Ventures, Inc.
Through its Applied LNG Technologies and other subsidiaries, the Company engages in the production, distribution, and sale of liquefied natural gas (“LNG”) to customers consisting of public utilities, industrial end-users and other fleet customers within the transportation, manufacturing, distribution, and municipal markets, primarily in California, Arizona, and Nevada. The Company also offers turnkey fuel solutions, including delivery, equipment storage, fuel dispensing equipment, and fuel loading facilities.
Forward-Looking Statements Disclosure
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from results proposed in such statements. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the Company’s ability to obtain court approval with respect to motions in the Chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period that the Company has to propose and confirm a Plan of Reorganization; the appointment of a Chapter 11 trustee or examiner or to convert the Company’s bankruptcy cases to cases under Chapter 7 of the U.S. Bankruptcy Code; the Company’s ability to obtain and maintain normal terms with vendors, service providers, and leaseholders and to obtain orders authorizing payments to such parties; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to attract and retain customers; and statements of assumption underlying any of the foregoing, as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2008 filed with the Securities and Exchange Commission and other filings with the SEC. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various pre-petition liabilities, common stock and/or other equity securities. No assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. Accordingly, the Company urges that the appropriate caution be exercised with respect to existing and future investments in any of these liabilities and/or securities. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date of this press release. All written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. We assume no duty to update or revise our forward-looking statements based on changes in internal estimates, expectations, or otherwise or to reflect events or circumstances after the date hereof.
Contact:
Rachel Croft
214-613-0214
or email: info@altlng.com
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6 Feb, 2009
PNG Ventures, Inc. Appoints Cem Hacioglu as President and Chief Executive Officer
The Board of Directors of PNG Ventures, Inc. (OTCBB:PNGX) announced today that it has appointed Cem Hacioglu as President and Chief Executive Officer, effective February 16, 2009.
PNG Ventures, Inc. produces liquefied natural gas ("LNG") from its production facility in Topock, AZ through its wholly-owned subsidiary Applied LNG Technologies USA, LLC (ALT). ALT currently produces and distributes over two million gallons monthly of vehicle-grade LNG to municipal and commercial transportation markets in the western United States.
“ALT has the potential to be the preeminent competitor in the growing LNG and alternative fuels market,” said Hacioglu. “I am grateful to our interim CEO, Kevin Markey, for his leadership during this critical transition period and intend to build upon his accomplishments. I look forward to working closely with him in his capacity as the Vice President of Sales and Operations of PNG Ventures.”
Hacioglu, 38, will continue to serve as a director of PNG, a position he has held since August 20, 2008. A co-portfolio manager of the Direct Investment Group of Sandell Asset Management Corp. since May 2005, a shareholder PNG, and former portfolio manager of Millennium Partners where he helped manage Millennium's direct investment portfolio, Hacioglu has held various positions at Fletcher Asset Management, Merrill Lynch and the World Bank. He earned his B.S. Degree in Economics from the United States Military Academy, West Point, and his M.B.A. in Financial Management from the MIT Sloan School of Management.
PNG Chairman of the Board, W. Phillip Marcum, said, “We are happy that Cem has agreed to become President and Chief Executive Officer of PNGX and look forward to the future growth and success of the Company under Cem’s leadership."
About ALT
Applied LNG Technology (ALT) produces and markets liquefied natural gas (LNG). ALT owns a production facility located in Topock, Arizona, currently producing over 2-Million gallons monthly of vehicle-grade LNG. Along with that facility and other LNG production facilities, ALT has the capability of supplying the western and southwestern United States with commercial quantities of vehicle-grade LNG fuel. ALT provides LNG and CNG product and delivery systems and executes turnkey fuel solutions that include equipment leasing, station installations, safety and training, natural gas production, low BTU gas processing, temporary fueling stations, and LNG and CNG consulting services. ALT’s customer base includes large municipal fleets, various refuse companies, major ports and other commercial trucking fleets. Possible feedstock sources for LNG production include landfill gases or methane sources from agricultural biomass facilities. The Company is focused on meeting the growing demand for alternative fuels in the domestic market. The Company's web site is www.altlng.com. ALT is wholly owned by PNG Ventures, Inc. (OTCBB: PNGX).
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