Clean Energy to Acquire FuelMaker, Natural Gas Fueling Appliances Maker from Honda

Yahoo! ^ | 9/8/2008

[shove_it]

-- Acquisition Extends Clean Energy's Natural Gas Fueling Franchise to Small Fleets and Consumers in United States and Overseas --

SEAL BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq:CLNE - News) has entered into a definitive agreement with American Honda Motor Co., Inc. and The FuelMaker Trust to acquire FuelMaker Corporation of Toronto, Canada for (US) $17 million in cash. The acquisition is expected to be completed within 25 days.

FuelMaker (www.fuelmaker.com) manufactures, distributes, installs and services vehicle refueling appliances (VRA) and accessories for fueling vehicles powered by compressed natural gas (CNG). The consumer version of the VRA is the Phill, a home refueling device that compresses natural gas from the home gas line for fueling vehicles. Recent prices for consumers using the Phill at home in Southern California were as low as $1.60 per gallon...

[unixfox]

Recent prices for consumers using the Phill at home in Southern California were as low as $1.60 per gallon.

This won't last long. The state will tax this up to 3.50 a gal. in no time.

A no win situation for CA.

[Blacksheep]

I agree the simple discussion of natural gas will drive it through the roof. Was that Pickens plan all the time?

[taildragger]

Now take the Chevy Volt with it's extended range and regenerative braking and make it Gaseous Fueled.

You would then have a car off the gas station bottleneck, by refueling and charging at home.

The efficiency of the drive-train would use the gaseous fuel in a matter that would extend the life of the resource.

IMHO an effort to make this the standard "planform" for autos would have us weened from the Saudi's sooner than we think....

[shove_it]

ping

CLNE acquires the Phill.

[Ben Ficklin]

bump

[shove_it]

Update ~ the deal fell through:

http://biz.yahoo.com/e/081015/clne8-k.html