Clean Energy and Mansfield Form Mansfield Clean Energy Partners
Gainesville, GA – February 13, 2015 – Clean Energy Fuels Corp. (NASDAQ: CLNE) and Mansfield Energy Corp. today announced the formation of Mansfield Clean Energy Partners (MCEP), a joint venture which will provide natural gas fueling solutions to bulk fuel haulers in the United States, a segment that consumes over three billion gallons of fuel every year. Ira G. Pearl, a veteran of the natural gas industry, has been tapped to lead the Mansfield Clean Energy Partners team.
MCEP’s first customer will be Mansfield Oil Company, one of the nation’s largest providers of transportation fuel, which has deployed the first of its recently-purchased 12 heavy-duty compressed natural gas (CNG) trucks to haul diesel and gasoline for its customers. This fleet of CNG trucks will fuel at a new Atlanta, Ga., area card-lock natural gas station available to fleets throughout the region. The station was built by Clean Energy and forecasted to open by November 2014. A second natural gas fueling station in Tampa.
“As a family-owned company, Mansfield is committed to responsibly operating within the communities where we do business,” said Michael Mansfield, CEO of Mansfield. “Creating this partnership with Clean Energy and deploying natural gas trucks is preparing us for the future and will allow other bulk fuel haulers to take advantage of the benefits of clean-burning natural gas.”
“The deep relationships Mansfield has built with America’s bulk fuel haulers are virtually un-paralleled,” said Andrew J. Littlefair, president and CEO of Clean Energy. “Our joint sales forces will leverage these relationships and Clean Energy’s natural gas fueling expertise to offer the critical market segment of bulk fuel haulers the best natural gas fueling solutions on the market.”
MCEP is in advanced discussions with several bulk fuel trucking companies, representing potentially over 100 new heavy-duty CNG trucks. To support these Class 8 natural gas trucks, MCEP will develop new public-access natural gas fueling stations throughout the United States in addition to the Atlanta and Tampa facilities.
Mansfield is uniquely positioned to serve the bulk fuel hauling market because of the Company’s over half-century experience in the refined fuel products supply chain and its deep relationships in this business. Clean Energy has built more natural gas stations than any other company in the United States including almost 100 stations which are currently opened and can accommodate Class 8 tractors.
Natural gas fuel costs up to $1.50 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.
