CLEANCOR ACQUIRES LNG & CNG FUEL STATION TO FACILITATE TRUCK REFUELING ALONG CALIFORNIA’S I-10 FREIGHT CORRIDOR
FORT LAUDERDALE, Fla., Feb. 24, 2020 (GLOBE NEWSWIRE) -- CLEANCOR Energy Solutions LLC (“CLEANCOR”), an indirect wholly-owned subsidiary of SEACOR Holdings Inc. (“SEACOR”) and a leading supplier of alternative fuels to over-the-road truck fleets, announced today that a subsidiary completed an acquisition of a liquefied natural gas (“LNG”) and compressed natural gas (“CNG”) fueling station located at 670 Garnet Avenue in Palm Springs, California.
The station is an attended card lock facility servicing over-the-road drayage truck fleets, waste haul companies, and other commercial fleets transiting the Interstate 10 freight corridor. The station has been growing its LNG and CNG fuel supply volumes to a range of truck fleets, including CLEANCOR customers servicing cargo to the Port of Long Beach and Port of Los Angeles as well as other locations in Arizona and Southern California.
Jeff Woods, chief executive officer of CLEANCOR, said “The Palm Springs station is an exciting addition to our portfolio as it serves as a critical refueling waypoint for existing CLEANCOR customers transiting the I-10 corridor. It’s strategic location in California, a leader in clean fuel initiatives, also offers unique growth opportunities as more over-the-road trucking fleets are incentivized to switch to cleaner, less costly fueling alternatives.” Compared to diesel fuel, LNG and CNG reduce carbon dioxide and greenhouse gas emissions by 11 percent and 17 percent, respectively. “CLEANCOR stands ready to support fleets in this transition and tailor the design and operation of public and private fueling facilities for our customers across North America,” continued Jeff Woods.
The Palm Springs station will be branded “CLEANCOR Fuels.” It has the capacity to expand the number of fleets refueling at the station. In addition to LNG and CNG, CLEANCOR provides Renewable Natural Gas (“RNG”) at this fuel station at no additional cost to customers. RNG is generated by capturing and converting emissions from existing waste sources at dairy farms, landfills, waste treatment facilities, among other sources, and contributes to the reduction in greenhouse gas emissions.
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CLEANCOR Energy Solutions LLC, a wholly-owned subsidiary of SEACOR Holdings, designs, develops, and maintains alternative energy and power solutions for end-customers looking to adopt energy supplies that have a favorable environmental footprint and the potential to economically and reliably displace legacy petroleum-based fuels. CLEANCOR provides LNG and CNG fuel supply and logistics to commercial, industrial, agricultural, and transportation clients, and provides natural gas during pipeline supply interruptions due to planned maintenance or other curtailments.
About SEACOR Holdings
SEACOR Holdings Inc. is a diversified holding company with interests in domestic and international transportation and logistics, crisis and emergency management, and clean fuel and power solutions. SEACOR is publicly traded on the New York Stock Exchange under the symbol CKH.
Certain statements discussed in this release as well as in other reports, materials and oral statements that the Company releases from time to time to the public constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Generally, words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “believe,” “plan,” “target,” “forecast” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements concern management’s expectations, strategic objectives, business prospects, anticipated economic performance and financial condition and other similar matters. Forward-looking statements are inherently uncertain and subject to a variety of assumptions, risks and uncertainties that could cause actual results to differ materially from those anticipated or expected by management of the Company. These statements are not guarantees of future performance and actual events or results may differ significantly from these statements. Actual events or results are subject to significant known and unknown risks, uncertainties and other important factors, including, but not limited to, risks relating to future actions, new projects, strategies, future performance and the outcome of contingencies such as future financial results, as well as the risks discussed in Item 1A. (Risk Factors) of the Company’s Annual report on Form 10-K and other reports filed by the Company with the Securities and Exchange Commission (“SEC”). Given these risk factors, investors and analysts should not place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of the document in which they are made. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.
For additional information, contact SEACOR at (954) 523-2200 or visit SEACOR’s website at www.seacorholdings.com.Source: SEACOR Holdings Inc.
Released February 24, 2020