Clean Energy Delivers Record 50.6 Million GGE of CNG in Third Quarter
On Wednesday, Clean Energy reported it delivered for the first time over 50 million GGE of CNG in one quarter. The company plans to grow its CNG sales further by expanding its CNG market to large industrial and institutional energy users beyond the nation’s natural gas pipeline by acquiring a controlling interest in NG Advantage LLC, an operator of a “virtual pipeline” delivery system. NG Advantage transports CNG in high-capacity trailers to large industrial and institutional energy users such as hospitals, food processors, manufacturers and paper mills. The NG Advantage investment will primarily be used to fund capital expenditures for expansion and growth in the business. Clean Energy will also purchase NG Advantage’s Milton, Vermont, compression station, which is on track to supply nearly 16 million GGE of CNG annually. This station will immediately become Clean Energy’s highest-volume station in its nationwide network of almost 500 stations. NG Advantage’s founder and president, Tom Evslin, will remain with the company as CEO and its second largest investor, and will continue to oversee operations from its Milton offices.