GE and Peake Fuel Solutions, an affiliate of Chesapeake Energy (CHK), launched the "CNG in a Box" system, which allows easier adoption of compressed natural gas refueling options for large and small scale retailers.
According to GE, a vehicle fleet operator that uses the "CNG in a Box" system for natural gas fueling instead of traditional gasoline fuelling can save about 40% in fuel costs. The "CNG in a Box" system is a plug-and-play on-site fuelling solution that comes with everything retailers need to add low-cost natural gas fuel to their operations quickly and simply.
The announcement marks similar steps taken by other global players in making natural gas more accessible as a transportation fuel. Earlier in the year, Shell (RDS) announced that they would add 100 LNG refueling centers at TravelCenters of America stations and Petro Stopping Centers across the U.S.A. This is the second such announcement from Shell as last year the company announced that it would offer LNG for truck and fleet customers beginning in 2012 at select Flying J truck stops in Alberta.
General Electric (GE : NYSE : US$22.94), Net Change: -0.18, % Change: -0.78%, Volume: 22,502,566
Copyright 2014 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.