Posted on 10/21/2013 7:21:08 AM PDT by shove_it
GE Capital’s Transportation Finance business and Clean Energy Fuels Corp.[NASDAQ: CLNE], the largest provider of natural gas fuel for transportation in North America, have entered into a strategic alliance to accelerate the conversion of heavy-duty trucking fleets from diesel to cleaner-burning, less-expensive natural gas.
To take advantage of this opportunity, truck fleet operators will first work with Clean Energy to develop natural gas fueling contracts, and will then apply for loans and leases, including fair market value leases, from GE Capital to acquire trucks from manufacturers that produce commercial natural gas vehicles (NGVs). Clean Energy will then help offset the monthly cost of newly-acquired NGVs to make it consistent with the cost of a diesel truck, if the customer makes a fuel commitment...
Full Headline: GE Capital and Clean Energy Form Strategic Alliance to Accelerate Adoption of Natural Gas in Trucking Industry
Watch for gov’t mandated NGV vehicles any moment now. Rentseekers gonna seek.
I’ve got no problem with this if its economically driven and government subsidies are not involved in the decision.
Great news! Finally exploiting our own natural gas energy supplies to benefit Americans!
I got an Amazon Store Card because I wanted $10 off an order. I read the fine print about extra charges and interest even if you are a day late with the payment. I immediately paid off and closed the account because, you guessed it, it was issued through GE Capital.
I will not sign any contract for our company which includes a GE Capital lease or any form of financing. We had several when I started here and the number of nickel and dime extra charges was so mind boggling that I got them banned. Occasionally, one of our "back-door" purchasers gets duped into signing a contract which is assigned to GE Capital. I call the company which originated the contract as soon as it comes to my attention and tell them to either assign it to another company or I'm canceling the contract. They assign it to another company.
GE Capital is a nasty outfit.
I got a GE loan to finance a replacement heat pump for my home and encountered none of the problems you describe.
Maybe they’ve cleaned up their act, but the fine print on the Amazon Store Card which I recently got indicates otherwise. Have you ever been late with a payment?
No, I was never late with a payment.
Be one day late with a payment and you’ll understand what I mean . . .
About a year ago the Oil & Gas division of GE teamed up with T.Boone’s Clean Energy Fuels.
GE and Clean Energy Fuels Partner to Expand
‘America’s Natural Gas Highway’
http://www.cleanenergyfuels.com/news/2012/11-13-12.html
November 13, 2012
GE (NYSE: GE) and Clean Energy Fuels (Nasdaq: CLNE) today announced a collaboration to expand the infrastructure for natural gas transportation in the United States. The agreement supports Clean Energy’s efforts in developing “America’s Natural Gas Highway®,” a fueling network that will enable trucks to operate on Liquefied Natural Gas (LNG) coast to coast and border to border. Truck fleets often can reduce fuel costs by more than 25 percent and lower emissions with LNG.
As part of the collaboration, Clean Energy Fuels will initially purchase two ecomagination-qualified MicroLNG plants from GE Oil & Gas. The plug-and-play modular units, which are designed to rapidly liquefy natural gas while minimizing a site’s physical footprint, will support fueling stations along critical transportation corridors that run across the U.S. Further underscoring GE’s commitment to expanding natural gas transportation infrastructure, GE Energy Financial Services is providing up to $200 million in financing for the two GE MicroLNG plants.
“GE is proud to be partnering with Clean Energy Fuels to develop natural gas infrastructure in the U.S. Clean Energy is an industry leader in pioneering a new way for America to fuel its vehicles and to further gain energy independence,” said GE Chairman and CEO Jeff Immelt. “With an abundance of cleaner, more affordable natural gas here in the U.S., this is an important opportunity for GE to join Clean Energy in changing the way America drives. It’s also a critical step in developing a natural gas-for-transportation fuel model that can be easily exported to other countries interested in exactly these kinds of breakthrough projects.”
continued at link...
Yes. This move announced today by GE provides a financing opportunity to long haul OTR truckers to make the conversion to NatGas powered tractors (no govt subsidy). I got blindsided by the uninformed downgrade of CLNE by Piper Jaffray on Oct 8 which tanked the stock:
CLNE got a pop with this news today but it’s got a way to go to get back to my $13 position. This PJ downgrade smells like a malicious downgrade coupled with a short sale. I keep hoping for GE to get off the pot and just go ahead and acquire CLNE & WPRT, two little money losing companies, while I’m long their stock.
I don't think that will happen while T.Boone is alive.
Mr. Pickens is on the Board of CLNE but is not on the list of major stockholders.
Here’s another article from a knowledgeable analyst ...
Boone Pickens is the largest single share-holder of CLNE with 18,139,720 shares.
http://finance.yahoo.com/q/mh?s=CLNE+Major+Holders
He owns more than the top 10 Institutional holders (like Vanguard) put together.
I musta looked at the wrong list.
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