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USA: Clean Energy Presents ‘Zero Now Financing’

USA: Clean Energy Presents ‘Zero Now Financing’

The project will help remove the price differential of a natural gas truck versus a diesel truck

Zero Now Financing has been rolled out by Clean Energy Fuels Corp. – a program that makes the cost of leasing or purchasing a new natural gas heavy-duty truck equipped with the cleanest engine in the world, equal to the price or even lower than that of the same truck equipped with a diesel engine. Further, through a unique hedging program, trucks financed or purchased through the Zero Now Financing program will be able to purchase natural gas fuel at a fixed price significantly discounted to diesel for the term of the financing/lease.

In the past, private carriers, for-hire carriers, and shippers, have never enjoyed the benefits of moving their goods in trucks that can substantially reduce their emissions for the price of a diesel truck. The cost could be considerably less than a diesel truck, if the trucks qualify for grants that are offered in states around the country. Equipped with a Cummins Westport ISX12N engine that has been certified by California Air Resources Board and the U.S. Environmental Protection Agency (EPA), which is at least 90 percent lower NOx emissions than current EPA NOx standards, making it the cleanest engine available today, the new natural gas trucks will head for the highways.

Andrew J. Littlefair, president and CEO, Clean Energy said that the Zero Now Financing program levels the financial playing field by removing the price differential of a natural gas truck versus a diesel truck. “This combination will give fleets a considerable sustainability advantage, which could result in winning more business. The goal is to significantly reduce the environmental impact of heavy-duty trucking and widen the adoption of natural gas as a clean, American-made fuel to move America’s goods around the country.”

Redeem renewable natural gas (RNG) is made available by Clean Energy at many of its public stations and will work with fleets to provide it wherever possible. Customers are enabled to achieve a reduction in greenhouse gas (GHG) emissions by at least 70 percent versus diesel by the use of Redeem. With some RNG sources even reducing GHG emissions by over 100 percent, Redeem is the cleanest fuel for trucking today.

With $100 million in credit support from its new strategic partner Total S.A., a global energy giant seeking to become the Responsible Energy Major, to cover the incremental portion of the truck value, Clean Energy is launching Zero Now Financing. In addition, Clean Energy is also partnering with multiple well-known financial institutions to make the process as seamless as possible. Trucks built by a variety of manufacturers, operating on either compressed natural gas (CNG) or liquefied natural gas (LNG) and equipped with the new CWI ISX12N engine, covers the program. PWKD20072018

Last modified onThursday, 19 July 2018 12:29
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