Clean Energy Fuels Corp. Supports American Power Act, Calling for Increased Tax Credits for Natural Gas Vehicles

Strategic Insights -

Clean Energy Fuels Corp., a leading provider of natural gas (CNG and LNG) for transportation in North America, has announced its support for the American Power Act introduced by U.S. Senators John Kerry and Joseph Lieberman. A major provision of the proposed legislation would double the current federal tax credits for the purchase of natural gas-powered fleet vehicles for the next 10 years, supporting the growth of the natural gas vehicle market and efforts to reduce dependence on foreign oil.

Key Takeaways:

  • Clean Energy Fuels Corp. is a leading provider of natural gas for transportation in North America, fueling over 18,300 vehicles at 200 strategic locations across the United States and Canada.
  • The American Power Act, introduced by Senators John Kerry and Joseph Lieberman, proposes doubling federal tax credits for the purchase of natural gas-powered fleet vehicles for the next 10 years.
  • Eligible natural gas vehicle categories include heavy-duty trucks, as well as certain fleets of shuttle vans.
  • A provision in the pending legislation would enable municipalities to take advantage of the tax credits for their fleets.
  • Clean Energy's President and CEO, Andrew Littlefair, praised the introduction of the American Power Act, stating that it is a "highly meaningful step in national efforts to help ensure U.S. energy security and preserve environmental quality."

Statistics:

  • Over 18,300 vehicles are being fueled by Clean Energy Fuels Corp. at 200 strategic locations across the United States and Canada.
  • The company owns and operates two LNG production plants with a combined capacity of 260,000 LNG gallons per day, designed to expand to 340,000 LNG gallons per day as demand increases.
  • Clean Energy Fuels Corp. is the leading provider of natural gas for transportation in North America.

Sources:

  • Clean Energy Fuels Corporation. (n.d.). Press Release: Clean Energy Fuels Corp. Supports American Power Act.
  • Clean Energy Fuels Corporation. (n.d.). About Us.
  • Nasdaq. (n.d.). Clean Energy Fuels Corp. (CLNE).