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Monday, December 29, 2008 8:46:51 AM
Contract to Supply Natural Gas Fuel for 10 Years
45 minutes ago - Businesswire
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CLNE 6.08 0.00%
As of 12:00 AM ET 12/26/08
Yellow Cab Cooperative, San Francisco's largest taxicab operator, has awarded Clean Energy Fuels Corp. (Nasdaq:CLNE) a 10-year contract to supply compressed natural gas (CNG) fuel, and provide operations and maintenance for a newly expanded Clean Energy CNG station located south of the City center at 1200 Mississippi St. In addition to serving Yellow Cab's growing CNG fleet, the station is now open for full public use, 24/7. It joins the growing network of eight public Clean Energy fueling stations located in the San Francisco Bay area.
James Harger, Clean Energy Senior Vice President, said, "We are pleased to continue our long-term fuel supply and station operation relationship with Yellow Cab Cooperative, which has now been extended through 2018. Yellow Cab Co-Op is a clear leader in promoting the use of natural gas fuel. We look forward to the continuing addition of more CNG cabs to its already sizeable 100-cab CNG fleet, which will enhance both the health and environmental benefits for all San Francisco Bay Area citizens."
Yellow Cab Co-Op's taxis currently use more than 350,000 gallons of CNG fuel annually. Most cabs return for fill-ups twice a day, and the new Clean Energy CNG station is equipped to dispense 1,000 gallons of fuel per hour -- the largest U.S. CNG taxi station of its kind.
Hal Mellegard, Yellow Cab Cooperative's General Manager, said, "Our CNG taxis provide good benefits, including lower-cost fuel and access to the HOV/carpool lanes on local freeways, which the clean, green performance allows. The newly increased capacity of the Mississippi Street Clean Energy station and the several other CNG stations in the area will provide the support we need as we accelerate our program of replacing gasoline-powered taxis with a combination of cleaner burning hybrids and CNG models."
Clean Energy (Nasdaq:CLNE) is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 14,000 vehicles daily at over 170 strategic locations across the United States and Canada. Clean Energy owns and operates two LNG production plants, one in Willis, TX and one in Boron, CA, with combined capacity of 260,000 LNG gallons per day and designed to expand to 340,000 LNG gallons per day as demand increases. It also owns and operates a landfill gas facility in Dallas, TX that produces renewable methane gas or biogas for delivery in the nation's gas pipeline network. Please visit www.cleanenergyfuels.com.
Forward-Looking Statements 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 growth of the Yellow Cab CNG taxi fleet and fuel consumption. 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 the availability of CNG vehicles and demand for taxi services in the Bay Area. 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.
SOURCE: Clean Energy Fuels Corp.
For Clean Energy Fuels Corp.
News Media
Bruce Russell, 310-559-4955 x101
brussell@cleanenergyfuels.com
or
Investors
Ina McGuinness, 310-954-1100
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