Hertz Signs Agreement With Clean Energy to Build & Operate CNG Fueling Stations at Los Angeles International Airport
The Hertz Corporation (NYSE: HTZ) has partnered with Clean Energy Fuels Corp. (NASDAQ: CLNE) to build, operate, and supply compressed natural gas (CNG) fueling stations at Hertz's Los Angeles Airport facility.
In addition to supporting Hertz's expanding clean-burning CNG airport shuttle bus fleet the new Clean Energy CNG fueling station will be accessible to the public 24/7.
"Introducing CNG shuttle buses and fueling stations to support compressed natural gas is an integral part of Hertz's stewardship of the environment," commented Mark P. Frissora, Chairman and Chief Executive Officer, The Hertz Corporation. "Partnering with Clean Energy reinforces our mission to minimize the environmental impact from our operations and we're excited to be able to support our shuttle fleet while also allowing other airport entities access to the CNG station."
Costing less than diesel or gasoline, compressed natural gas fuel produces approximately 30% less greenhouse gas emissions in light-duty vehicles, and more than 23% lower greenhouse gas emissions in medium to heavy-duty vehicles. Department of Energy reports estimate that 98% of the natural gas consumed in the U.S. is sourced in the U.S. and Canada.
"Our partnership with Hertz will allow Clean Energy to build a much needed CNG station at Los Angeles Airport," said James Harger, Clean Energy Chief Marketing Officer. "The transition by the airport industry and allied services from diesel to natural gas for ground transportation is accelerating rapidly, in response to the need to curtail emissions, decrease fuel costs, and reduce dependence on imported oil and our partnership with Hertz will facilitate this transition to compressed natural gas."
The Hertz/Clean Energy CNG fueling station will be built adjacent to Los Angeles International Airport (LAX). The Hertz LAX facility will include public access fueling islands for local fleets of CNG taxis and shared-ride vans, plus hotel, parking, and rental car buses. A private Hertz island will be capable of fueling its internal fleet, simultaneously. Station construction is expected to begin in March and be completed by the third quarter of 2011. By 2015, Hertz expects to have transitioned its entire LAX transit bus fleet to clean, green, domestic CNG gas power.
Clean Energy also operates a large-volume, high-traffic LAX-adjacent public access CNG station that serves light, medium, and heavy-duty fleet vehicles in the area.
