Clean Energy Fuels Corp. announced on July 18 its new Zero Now Financing program. The company said the program “makes the cost of purchasing a new natural gas heavy-duty truck equipped with the cleanest engine in the world equal to the price or even lower than that of the same truck equipped with a diesel engine.”
In addition, trucks financed or purchased via 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.
If the trucks financed also qualify for grants that are offered in certain states, the cost could be considerably less than a diesel truck, stated Clean Energy Fuels.
The new natural gas trucks will be powered by the Cummins Westport ISX12N engine that has been certified by California Air Resources Board CARB and the U.S. Environmental Protection Agency at 0.02 g-NOx/bhp-hr and tested at 0.01 g-NOx/bhp-hr. Clean Energy Fuels said that is at least 90% lower NOx emissions than current EPA NOx standards, “making it the cleanest engine available today.”
“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,” said Andrew J. Littlefair, president and CEO, Clean Energy. “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.”
Clean Energy Fuels already makes its Redeem renewable natural gas (RNG) available at many of its public stations and said it will work with fleets to provide it wherever possible. The company said that Redeem allows customers to achieve a reduction in greenhouse gas emissions by at least 70% vs. diesel. Redeem is the cleanest fuel for trucking today, according to Clean Energy Fuels, with some RNG sources even reducing GHG emissions by over 100%.
Clean Energy is launching Zero Now Financing with $100 million in credit support from its new strategic partner Total S.A., a global energy firm. Also, Clean Energy said it is partnering with “multiple well-known financial institutions to make the process as seamless as possible.”
The program extends to trucks built by a variety of manufacturers, operating on either compressed natural gas (CNG) or liquified natural gas (LNG) and that are equipped with the new Cummins Westport ISX12N engine. The Zero Now Financing offer will include a five-year engine coverage option on the ISX12.
Clean Energy operates a fueling network of over 100 public stations strategically located around the U.S. and Canada that accommodate Class 8 tractors and plans to add more to meet demand.