Ingevity rebrands adsorbed natural gas business to NeuFuel™ and expands carbon- neutral offerings for existing diesel vehicles
29 September 2022 - 11:00PM
Business Wire
Ingevity Corporation (NYSE:NGVT) today announced the rebranding
of the company’s adsorbed natural gas vehicle business (ANG) to
NeuFuel™ to better reflect the company’s ability to help fleets
immediately and cost-effectively transition to a cleaner,
carbon-neutral fuel, and meet market needs to expand benefits to
the diesel market, including existing diesel vehicles.
Ingevity’s NeuFuel solution enables vehicles to run on
carbon-neutral renewable natural gas (RNG) and provides a more
environmentally friendly option for light-duty trucks and vans.
Introducing NeuFuel as an option for diesel fleets positions the
company to respond to increased demand for low-cost sustainability
solutions for existing in-service diesel vehicles such as school
buses and delivery trucks and vans.
“What makes Ingevity’s NeuFuel solution unique is that it
provides diesel fleets a proven, cost-effective pathway to zero
emissions – today - when using their existing diesel vehicles,”
said Ingevity executive vice president and president, Performance
Materials, Ed Woodcock. “The name, NeuFuel, distinguishes
Ingevity’s solution as an RNG carbon neutral fuel source that helps
fleets effectively and efficiently advance their sustainability
goals.”
The expanded NeuFuel product line is designed to pair with
American CNG’s DEMI Diesel Displacer™ to create a dual-fuel,
bolt-on solution for existing diesel fleets. Ingevity’s new diesel
fuel partner joins a growing number of U.S. natural gas utilities,
municipalities, and commercial fleets investing in NeuFuel-equipped
vehicles. Additional information on the features and benefits of
Ingevity’s NeuFuel technology can be found on the company’s
website.
Ingevity: Purify, Protect and Enhance
Ingevity provides products and technologies that purify, protect
and enhance the world around us. Through a team of talented and
experienced people, we develop, manufacture and bring to market
solutions that help customers solve complex problems and make the
world more sustainable. We operate in two reporting segments:
Performance Chemicals, which includes specialty chemicals and
engineered polymers, and Performance Materials, which includes
high-performance activated carbon. These products are used in a
variety of demanding applications, including asphalt paving, oil
exploration and production, agrochemicals, adhesives, lubricants,
publication inks, coatings, elastomers, bioplastics and automotive
components that reduce gasoline vapor emissions. Headquartered in
North Charleston, South Carolina, Ingevity operates from 25
locations around the world and employs approximately 1,850 people.
The company is traded on the New York Stock Exchange (NYSE:NGVT).
For more information visit www.ingevity.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995. Such
statements generally include the words “will,” “plans,” “intends,”
“targets,” “expects,” “outlook,” “believes,” “anticipates” or
similar expressions. Forward-looking statements may include,
without limitation, expected financial positions, guidance, results
of operations and cash flows; financing plans; business strategies
and expectations; operating plans; impact of COVID-19; capital and
other expenditures; competitive positions; growth opportunities for
existing products; environmental and other benefits from new and
existing technology; and benefits from cost-reduction initiatives,
plans and objectives. Actual results could differ materially from
the views expressed. Factors that could cause actual results to
materially differ from those contained in the forward-looking
statements, or that could cause other forward-looking statements to
prove incorrect, include, without limitation, adverse effects from
the COVID-19 pandemic; adverse effects from general global
economic, geopolitical and financial conditions beyond our control,
including inflation and war in Ukraine; risks related to our
international sales and operations; adverse conditions in the
automotive market; competition from substitute products, new
technologies and new or emerging competitors; worldwide air quality
standards; a decrease in government infrastructure spending;
adverse conditions in cyclical end markets; the limited supply of
or lack of access to sufficient crude tall oil and other raw
materials; the provision of services by third parties at several
facilities; supply chain disruptions; natural disasters and extreme
weather events; or other unanticipated problems such as labor
difficulties (including work stoppages), equipment failure or
unscheduled maintenance and repair; attracting and retaining key
personnel; dependence on certain large customers; legal actions
associated with our intellectual property rights; protection of our
intellectual property and other proprietary information;
information technology security breaches and other disruptions;
complications with designing or implementing our new enterprise
resource planning system; government policies and regulations,
including, but not limited to, those affecting the environment,
climate change, tax policies, tariffs and the chemicals industry;
and losses due to lawsuits arising out of environmental damage or
personal injuries associated with chemical or other manufacturing
processes, and the other factors detailed from time to time in the
reports we file with the SEC, including those described in Part I,
Item 1A. Risk Factors in our 2021 Annual Report on Form 10-K as
well as in our other filings with the SEC. These forward-looking
statements speak only to management’s beliefs as of the date of
this press release. Ingevity assumes no obligation to provide any
revisions to, or update, any projections and forward-looking
statements contained in this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20220929005159/en/
Caroline Monahan 843-740-2068 caroline.monahan@ingevity.com
Investors: John Nypaver 843-740-2002
investors@ingevity.com
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