Clean Energy Fuels (CLNE) continues to win CNG fueling development contracts in Cali and it’s scored another one this morning. Veolia Tranportation Services, N. America’s largest private provider of public transit has awarded CLNE with a contract to build and operated a CNG fueling station in downtown LA. Construction is set to begin in Jan 2010 and be completed in mid 2010.
Senior VP of CLNE James Harger, said, “We are very grateful for the … Read the rest
Garbage companies in 4 states have opened CNG fueling stations designed and built by Clean Energy Fuels. According to this press release, Clean Energy Fuels has designed and built fueling stations for the following operators in the following states:
Choice Environmental Services in Fort Lauderdale, FL
Central Jersey Waste in Hamilton Township, NJ
Allied Waste Services in Boise, ID
South County Sanitary Company in San Luis Obispo, CA
The new stations will help these garbage … Read the rest
Clean Energy Fuels (CLNE) has been awarded another CNG contract this morning, this time from the Atlantic County Utilities Authority which provides waste and recycling services in southern New Jersey. CLNE will design, build and maintain a new compressed natural gas fueling station to support ACUA’s growing fleet of CNG vehicles. The facility will be open 24/7 and be available to the general public. No word on the financials of the deal
James Harger … Read the rest
It appears Clean Energy Fuels (CLNE) wants to position itself for the potential growth in natural gas powered vehicles with a purchase this morning of BAF Technologies which is the leading provider of natural gas vehicle systems and conversions in the US. This is a great move and gives them a complete natural gas vehicle solution from conversion to the fuel pump. Fuel Systems Solutions (FSYS) is the current leader in nat gas auto conversions, … Read the rest
Not a real impressive quarter out of FSYS after the bell today, but in this environment all you need to do is beat low expectations, guide in line or higher and the stock is usually off to the races. No exception here. The company beat analyst estimates by .14/share, posting .46/share which is a 15% decrease from the year ago quarter. Revenues were off 6% over the year ago period, but also beat estimates with … Read the rest
Yesterday, Fuel Systems Solutions (FSYS) got a bit more diversified with the purchase of the Power Systems unit of Teleflex for $14.5 million which includes industrial and transportation alternative fuel components and systems and auxiliary power systems. The deal is expected to close this quarter and begin contributing to earnings next year.
The Power Systems segment is comprised of 3 business units:
Idle Reduction & Power Management manufactures products to increase efficiency and reduce carbon … Read the rest
Clean Energy Fuels just announced the grand opening of the world’s largest LNG/CNG truck fueling station. The new natural gas fueling station is located in California, right next to the ports of Long Beach and Los Angeles. With two 25,000-gallon LNG storage tanks, six LNG dispensers, and two CNG dispensers, the station will be able to provide fuel for several hundred trucks each day. The station is open to the public and was built to … Read the rest
Clean Energy Fuels (CLNE) has entered the Florida market. The company is announcing a new 10 year contract this morning with solid waste company Choice Environmental Services to build and operate a compressed natural gas (CNG) fueling station in Ft Lauderdale, Florida. Choice Environmental is the first waste and recycling firm in south Florida to convert a portion of its fleet to cleaner burning natural gas fuel, which will begin running on the fuel in … Read the rest
Fuel Systems Solutions Inc just announced that it has finished buying some some assets and some CNG technology from FuelMaker Corporation, including a home CNG refueling appliance. Fuel Systems Solutions bought the technology for $7 million and also agreed to take over some of FuelMaker’s service operations and outstanding purchase orders.
In a company press release, Mariano Costamagna, CEO of Fuel Systems Solutions, commented on the purchase:
"We are excited to begin integrating our … Read the rest
Last quarter expectations were much too high for the former high flyer, Fuel Systems Solutions (FSYS). The company didn’t match those lofty expectations and the stock has taken a beating. Now that analysts have very little expectations of the company it doesn’t take much to beat and beat they did after the bell today. The company reported an EPS of .44/share which was more than double what analysts had expected. Let’s not get carried away … Read the rest