According to the Natural Gas Vehicles for America organization, the natural gas-powered vehicles market in the United States continued to expand in 2009. The U.S. Environmental Protection Agency has called the Honda Civic GX the world’s cleanest internal combustion engine. The Civic GX runs on compressed natural gas. According to Honda, the 2010 Civic GX is now available in all 50 states. The 113-hp, 1.8-liter, 16-valve 4-cylinder engine produces almost zero emissions and the 2010 model has a suggested starting price of $25,340. In addition to growing consumer demand, fleets of commercial and municipal trucks and vehicles across the U.S. are also converting to natural gas. One of the challenges for natural gas vehicles has been the availability of refueling stations, but the network is growing.
T. Boone Pickens, proponent of wind energy and natural gas-powered vehicles as alternatives to move the U.S. away from its dependence on foreign oil, is the founder and director of Clean Energy Fuels Corp. This California-based company builds and operates fueling stations and supplies compressed and liquefied natural gas. The company owns and operates 195 natural gas fueling stations in various parts of the U.S. as well as in British Columbia and Ontario, Canada. Clean Energy Fuels Corp. serves around 17,500 natural gas vehicles in public transit, waste management, airports, seaports, taxis and regional trucking businesses.
In February 2010, Clean Energy Fuels announced that it intends to expand its network of truck fueling stations in Southern California. Liquefied natural gas stations will be set up at strategic points along truck routes in California and are part of the company’s plans to expand its fueling network into the Southwestern region of the U.S. According to Clean Energy Corp.’s president and CEO, Andrew Littlefair, the company plans to connect its Southern California network to Northern California, Arizona, Nevada and Utah. This development is in response to the increased demand by major trucking companies using natural gas-powered trucks in the region.
Clean Energy Fuels Corp. owns and operates two liquefied natural gas (LNG) production plants in Willis, Texas and Boron, California. These plants have a combined capacity of 260,000 gallons of LNG per day and are designed to be able to expand to 340,000 gallons per day as demand increases. The company also has a plant in Dallas, Texas that produces biomethane from landfill gas.
Clean Energy Fuels Corp.’s total revenue for the year ended December 31, 2008 was $129.5 million, up from $117.7 million in 2007. The company had a net loss of $40.9 million in 2008, compared to a loss of $8.9 million in 2007. Total revenue for the third quarter of 2009 was $31.2 million, with a net loss of $18 million.
In the company’s third quarter 2009 earnings call, Clean Energy Fuels Corp.’s president, Andrew Littlefair, announced that on October 1, 2009, the company acquired BAF Technologies, a leading provider of natural gas and vehicle conversion technology. Clean Energy Fuels benefited from stimulus funding from the Department of Energy in August, 2009, with a $34 million award to build 11 natural gas fuelling stations and to offset the cost of deploying 800 natural gas vehicles. Littlefair pointed out that the third quarter of 2009 had been a very good quarter for the company, operationally, strategically and financially. Volumes were up 58% from the prior year and all the company’s sectors were contributing to growth. The company gained 12 new contracts during the quarter and is also building fueling stations in Peru.
2010 Honda Civic GX – Honda
Alternative and Advanced Vehicles – U.S. Department of Energy
Clean Energy Announces Expansion of its Southern California LNG Truck Fueling Infrastructure to Support Regional Goods Movement – Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (CLNE) – Yahoo Finance
Clean Energy Fuels Corp. Q3 2009 Earnings Call Transcript – Seeking Alpha
Natural Gas Vehicles 2009 Year in Review – Natural Gas Vehicles for America