US company introduces financing programme to reduce prices of natural gas trucks below diesel trucks
Clean Energy is launching the Zero Now Financing programme with $100 million in credit support from its new strategic partner Total S.A
US-based provider of natural gas fuel for transportation Clearn Energy Fuels Corp. has introduced Zero Now Financing, a program that makes the cost of leasing or purchasing a new natural gas heavy-duty truck equal to or lower than that of the same truck equipped with a diesel engine. In addition, 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 through a unique hedging program.
Never before have private carriers, for-hire carriers, and shippers enjoyed the benefits of moving their goods in trucks that can substantially reduce their emissions for the price of a diesel truck. And if the trucks qualify for grants that are offered in states around the country, the cost could be considerably less than a diesel truck. The new natural gas trucks will take to highways equipped with a Cummins Westport ISX12N engine that has been certified by California Air Resources Board and the US Environmental Protection Agency (EPA) at 0.02 g-NOx/bhp-hr and tested at 0.01 g-NOx/bhp-hr, which is at least 90 percent lower NOx emissions than current EPA NOx standards, making it the cleanest engine available today.
Clean Energy is launching Zero Now Financing 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. Also, Clean Energy is partnering with multiple well-known financial institutions to make the process as seamless as possible.
Andrew J. Littlefair, president and CEO, Clean Energy, said: "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.”