NEW YORK, Feb. 3, 2015 /PRNewswire/ -- Natural Gas Vehicles (NGVs) are the cleanest, most practical solution for low-emissions transportation today. While other clean transportation technologies exist, NGV technology is a proven, similarly-performing alternative to conventional diesel and gasoline vehicles. Stringent emissions standards for commercial transportation, together with concerns about volatile oil prices and oil supply security, are presenting economic advantages for natural gas vehicles.
The NGV industry is a large and rapidly growing market. The global market for natural gas vehicles (NGVs) will reach 35 million units by the end of the decade, this means a growth of over 20 times in the next six years. The International Association of Natural Gas Vehicles projects that there will be more than 50 million natural gas vehicles worldwide within the next ten years, representing approximately 9% of the world transportation fleet.
Clean Energy Fuels Corp. (NASDAQ: CLNE) is the leading provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company supplies Compressed Natural Gas (CNG) for light, medium, and heavy-duty vehicles; and Liquefied Natural Gas (LNG) for medium and heavy-duty vehicles. In addition, it sells non-lubricated natural gas compressors and other equipment used in CNG stations and LNG stations; and produces Renewable Natural Gas (RNG), which can be used as vehicle fuel or for renewable power generation, as well as provides Operation and Maintenance (O&M) services.
The company has aggressively invested in its infrastructure. But, the good thing is that it has positioned itself nicely for growth in the future. Recently it closed two key strategic transactions with Mansfield and NG Advantage, and both these will allow it to tap key growth markets.
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