Clean Energy Fuels Partners With GE on LNG Tech

On Tuesday, Clean Energy Fuels (Nasdaq: CLNE  ) and General Electric (NYSE: GE  ) announced a "collaboration to expand the infrastructure for natural gas transportation in the United States."

Specifically, Clean Energy is buying a pair of ecomagination MicroLNG plants from GE -- small modular units designed to liquefy natural gas for use as fuel in specially designed automotive vehicles. Exact purchase terms were not disclosed, but GE said it is providing up to $200 million in financing for the purchase.

For its part, Clean Energy will use the plants to produce fuel for a chain of liquid natural gas fueling stations it intends to build, providing fuel for LNG-capable tractor-trailers plying the nation's highways. Clean Energy aims to have 70 such fueling stations built by the end of this year. The GE MicroLNG plants will not be up and running until 2015, and even then will produce no more than 250,000 gallons of LNG per day. Ultimately, the companies say the plants can be expanded to produce up to 1 million gallons per day if demand warrants.

The companies estimate that the plants will produce enough LNG to replace conventional diesel fuel usage in "approximately 28,000 heavy trucks."

link


Read/Post Comments (0) | Recommend This Article (7)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2110547, ~/Articles/ArticleHandler.aspx, 10/23/2014 9:27:29 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement