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.”
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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.