New finance program seeks to equalize lease cost between natural gas and diesel trucks

Zero Now Financing Press Release Web 300x110Clean Energy Fuels Wednesday introduced Zero Now Financing, a program that makes the cost of leasing or purchasing a new natural gas heavy-duty truck equal to the price or even lower than that of the same truck equipped with a diesel engine. In addition, Clean Energy states trucks financed or purchased through the Zero Now Financing program will be able to purchase natural gas fuel at a fixed price significantly discounted to diesel for the term of the financing/lease through a unique hedging program.

According to its announcement, Clean Energy states the new natural gas trucks will take to highways equipped with a Cummins Westport ISX12N engine that has been certified by California Air Resources Board and the U.S. Environmental Protection Agency (EPA) at 0.02 g-NOx/bhp-hr and tested at 0.01 g-NOx/bhp-hr, which is at least 90 percent lower NOx emissions than current EPA NOx standards, making it the cleanest engine available today.

“The Zero Now Financing program levels the financial playing field by removing the price differential of a natural gas truck versus a diesel truck. This combination will give fleets a considerable sustainability advantage, which could result in winning more business,” says Andrew J. Littlefair, president and CEO at Clean Energy. “The goal is to significantly reduce the environmental impact of heavy-duty trucking and widen the adoption of natural gas as a clean, American-made fuel to move America’s goods around the country.”

Clean Energy is launching Zero Now Financing with $100 million in credit support from its new strategic partner Total S.A., a global energy giant seeking to become the Responsible Energy Major, to cover the incremental portion of the truck value. Also, Clean Energy says it is partnering with multiple well-known financial institutions to make the process as seamless as possible.

The company says the program extends to trucks built by a variety of manufacturers, operating on either compressed natural gas (CNG) or liquified natural gas (LNG) and equipped with the new CWI ISX 12N engine. The Zero Now Financing offer will include a five-year engine coverage option on the Cummins Westport ISX12.

Clean Energy already makes its Redeem renewable natural gas (RNG) available at many of its public stations and will work with fleets to provide it wherever possible. Clean Energy states Redeem allows customers to achieve a reduction in greenhouse gas (GHG) emissions by at least 70 percent versus diesel.

Clean Energy operates a fueling network of over 100 public stations strategically located around the U.S. and Canada that accommodate Class 8 tractors, and plans to add more to meet demand.

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