GE Capital, Clean Energy Partner to Create NGV Alliance

Both companies will work together to reduce the financial impact of the transition to natural gas trucks

GE Capital's Transportation Finance business and Clean Energy Fuels Corp., announced a strategic partnership to accelerate the conversion of heavy-duty trucking fleets from diesel to natural gas earlier this week, announcing a program where truck fleet operators work with Clean Energy to develop natural gas fueling contracts, and then apply for loans and leases from GE Capital to acquire trucks from manufacturers that produce commercial natural gas vehicles (NGVs). Clean Energy is also offering to help offset the monthly cost of newly-acquired NGVs to make it consistent with the cost of a diesel truck, if the new customer is willing to make a fuel commitment.

"We think this alliance will help to open up the natural gas market for long-haul operators," said Dan Clark, president and general manager of GE Capital, Transportation Finance.

"Together with GE Capital, we're breaking down the barriers to entry that may have prevented some fleet owners from making the transition to natural gas," said Andrew J. Littlefair, president and CEO of Clean Energy. "Our goal is to work with fleet operators to achieve a one-year payback on the incremental cost of natural gas heavy-duty trucks -- and our alliance with GE Capital is another tool in achieving this important goal." To read more, click HERE.