GE Capital Transportation Finance and Clean Energy Fuels have formed a partnership aimed at accelerating the conversion fleet among trucking companies from diesel-powered trucks to those using natural gas.
Fleets who take part in the program will first work with Clean Energy — the largest natural gas provider in North America — to develop a natural gas fueling contract, then work with GE Capital to get the necessary loans and leases to acquire the equipment, like natural gas trucks.
If the fleet makes a fuel commitment, Clean Energy will help offset the monthly costs of natural gas-powered trucks.
“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. “The alliance will support the parties’ mutual goal of reducing the financial impact of transitioning to natural gas and lowering the industry’s environmental footprint.”
The partnership addresses two factors that had delayed the transition to natural gas in the over-the-road trucking industry: technology and infrastructure.
Clean Energy says there are more than 13 million natural gas vehicles in use worldwide, according to Clean Energy. Moreover, 25 percent of all new buses and 60 percent of refuse trucks currently on order nationwide will be powered by natural gas.