Westport Fuel Systems Inc. has completed the sale of its compressed natural gas (CNG) compressor business to Snam S.p.A., a leading European gas utility company, for total proceeds of 12.3 million Euro, net of a EUR 500,000 holdback to be released upon fulfilment of an independent audit process, which will be completed within 30 business days.
This divestiture was initially announced by Westport Fuel Systems on May 17, 2018. According to the Vancouver-based company, the deal was consistent with its strategy to streamline its business and product lines and focus on supplying alternative fuel vehicle components and systems to the transportation industry.
“The closing of this transaction marks another achievement in our portfolio rationalization, a strategic initiative we started two years ago following the merger with Fuel Systems Solutions to capture synergies, drive efficiencies and strengthen our balance sheet,” states Nancy Gougarty, CEO of Westport Fuel Systems. “With a stronger balance sheet, a more streamlined business and improving operational results, we believe we can build on our market-leading position in our core markets, which should drive long-term value for the company and our shareholders.”
Source: Westport Fuel Systems
Columbus Finance and Management Director Joe Lombardi officially celebrated the opening of a new compressed natural gas (CNG) fuelling station. Located at 5115 Krieger Court, the opening of this CNG fuelling station makes it the fourth and largest in the city.
The West CNG station is another step in making Columbus an environmentally friendly city. This station is also a “fast fill” which means that vehicles are able to refuel as quickly as filling a diesel tank at a regular station. All four of the city’s compressed natural gas (CNG) fuelling stations are specifically for public fleets, private fleets and individual use.
“Under the leadership of Mayor Andrew Ginther, the City continues to invest in cleaner and environmentally safer fuel,” said Lombardi. “CNG reduces carbon emissions by approximately eighty percent and produces less greenhouse gases than traditional fuel. Since utilizing CNG as a fuel source in 2010, the City of Columbus has saved taxpayers approximately $3 million in fuel costs.”
Currently, Columbus has 244 compressed natural gas (CNG) vehicles in service that use almost 500,000 petrol gallon equivalents per year. Not only has this helped to save taxpayers money, but it also has a significantly positive impact on the environment. Vehicles using compressed natural gas (CNG) emit much lower levels of harmful emissions such as carbon monoxide, carbon dioxide and nitrous oxides.
Source: City of Columbus OH
The supermarket chain Híper Usera based in Madrid has acquired a fleet of 35 hybrid TGI SEAT Ibiza vehicles powered by compressed natural gas (CNG) to be used in commercial and supervisory tasks.
The objective of Híper Usera is to reduce carbon dioxide emissions, thus contributing to the achievement of a healthy and sustainable environment, according to sources in the chain.
The hybrid TGI SEAT Ibiza model will reduce CO2 emissions by 25% and noise pollution by 50% compared to the diesel vehicles. The particularity of the new vehicles of Híper Usera is that they work with two tanks, one for natural gas and another for petrol.
The engine of the vehicle uses compressed natural gas (CNG) primarily and only uses petrol when the first one is finished, in such a way that many more kilometres can be covered without there being the need to refuel. On the other hand, the existence of the two deposits guarantees a surplus of reliability.
The vehicles will be delivered step by step throughout the summer on June 15, 2018; the first two units arrived and on September 20, 2018 where the execution of the entire order will be completed.
Source: Híper Usera
As oil prices rise globally, increasing the price of traditional liquid fuels, European cities are establishing timelines to restrict or ban diesel outright. The focus is shifting to low emission, sustainable and renewable fuels, and the transportation industry is responding with the alternative options.
Recent activity in the electric vehicle market has dominated the headlines, but compressed natural gas (CNG) technology has been quietly reducing greenhouse gas emissions for decades. The technology is widespread over the globe and is well suited for a diverse range of transportation applications including cars, buses, trucks and many more.
OPW has supported the transportation and fuel market for decades with reliable, cost effective and innovative fuel dispensing products. OPW works with a wide range of leading companies across the EMEA region, supplying compressed natural gas (CNG) products including nozzles, breakaways and shear valves.
“Methane contains less carbon, it is not toxic and cannot contaminate groundwater. It’s the ideal alternative to replace diesel for commercial vehicles. OPW offers a high quality reliable range of fuelling equipment to enable a rapid and easy transition from diesel to clean fuels”.
Source: Petrol Plaza