Clean Energy Welcomes Passage of Alternative Fuel Tax Credit by Congress
19 December 2015 - 4:04AM
Business Wire
Clean Energy Fuels Corp., (NASDAQ: CLNE) today applauded the
passage by the U.S. Congress of an alternative fuel tax credit
which will continue to support the use of natural gas, a cleaner
and domestic transportation fuel option. The credit is retroactive
to 2015 and extends through 2016 and applies to compressed natural
gas (CNG) and liquefied natural gas (LNG). With an anticipated
signature by President Obama, the tax credit will cap a successful
year for Clean Energy that includes the completion of 68 station
projects and adding over 3,000 vehicles to the Clean Energy fueling
network, despite facing the headwinds of lower diesel prices. As
David Biderman, the executive director and CEO of the Solid Waste
Association of North America recently said, “…one of the remarkable
things that has occurred this year is that despite the declining
price of diesel, the purchase of natural gas fueled waste
collection vehicles has remained steady as companies and local
governments seek to reduce carbon footprint, reduce emissions and
reduce costs.”
“The tax credit will support the continued expansion of natural
gas fueling in the U.S., which will help to clean our air and keep
dollars here,” said Andrew J. Littlefair, president and CEO of
Clean Energy. “We applaud Congress for taking this action and
encourage the implementation of permanent measures to encourage
further use of this superior and cleaner fuel.”
Natural gas fuel costs up to $1.00 less per gallon than gasoline
or diesel, depending on local market conditions. The use of natural
gas fuel not only reduces operating costs for vehicles, but also
reduces greenhouse gas emissions up to 30% in light-duty vehicles
and 23% in medium to heavy-duty vehicles. In addition, nearly all
natural gas consumed in North America is produced domestically.
About Clean Energy
Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading provider
of natural gas fuel for transportation in North America. We build
and operate compressed natural gas (CNG) and liquefied natural gas
(LNG) fueling stations; manufacture CNG and LNG equipment and
technologies for ourselves and other companies; develop renewable
natural gas (RNG) production facilities; and deliver more CNG, LNG
and Redeem™ RNG fuel than any other company in the U.S. For
more information, visit www.cleanenergyfuels.com.
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Clean Energy Media Contact:Jason A. Johnston,
949.437.1411jason.johnston@cleanenergyfuels.comorClean
Energy Investor Contact:Tony Kritzer,
949.437.1403tkritzer@cleanenergyfuels.com
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