Tourmaline and Clean Energy Open New CNG Stations, Advancing Western Canada’s First Commercial-grade Natural Gas Fueling Corridor
Tourmaline Oil Corp. and Clean Energy Fuels Corp. have opened two new compressed natural gas (CNG) fueling stations in Alberta, advancing Western Canada's first commercial-grade public CNG fueling network. The new stations in Calgary and Grande Prairie, along with the Edmonton station opened in April 2023, establish a important transportation corridor for trucking companies converting their fleets from diesel to CNG.
This initiative is part of a $70 million Joint Development Agreement announced in April 2023, with plans to build up to 20 CNG fueling stations across Western Canada in the next five years. The network could fuel up to 3,000 natural gas-powered trucks daily once complete. The adoption of CNG has accelerated over the last year, with nine market-leading companies already collectively displacing two million litres of diesel.
The introduction of Cummins' new X15N natural gas engine is expected to further boost CNG adoption in the heavy-duty truck market. Construction on the next CNG fueling station is set to begin in Kamloops, B.C., with Fort McMurray and Fort St. John to follow.
Tourmaline Oil Corp. e Clean Energy Fuels Corp. hanno aperto due nuove stazioni di rifornimento di gas naturale compresso (CNG) in Alberta, avanzando la prima rete di rifornimento pubblico CNG di grado commerciale dell'Ovest canadese. Le nuove stazioni a Calgary e Grande Prairie, insieme alla stazione di Edmonton aperta ad aprile 2023, stabiliscono un importante corridoio di trasporto per le aziende di autotrasporto che stanno convertendo le loro flotte da diesel a CNG.
Questa iniziativa fa parte di un Accordo di Sviluppo Congiunto da 70 milioni di dollari annunciato ad aprile 2023, con piani per costruire fino a 20 stazioni di rifornimento CNG in tutto l'Ovest canadese nei prossimi cinque anni. La rete potrebbe rifornire fino a 3.000 camion a gas naturale al giorno una volta completata. L'adozione del CNG è accelerata nell'ultimo anno, con nove aziende leader di mercato che già collettivamente stanno sostituendo due milioni di litri di diesel.
L'introduzione del nuovo motore a gas naturale X15N di Cummins dovrebbe ulteriormente incentivare l'adozione del CNG nel mercato dei camion pesanti. La costruzione della prossima stazione di rifornimento CNG è prevista per iniziare a Kamloops, B.C., seguita da Fort McMurray e Fort St. John.
Tourmaline Oil Corp. y Clean Energy Fuels Corp. han abierto dos nuevas estaciones de combustible de gas natural comprimido (CNG) en Alberta, avanzando en la primera red pública de CNG de grado comercial en el oeste de Canadá. Las nuevas estaciones en Calgary y Grande Prairie, junto con la estación de Edmonton inaugurada en abril de 2023, establecen un importante corredor de transporte para las empresas de camiones que están convirtiendo sus flotas de diésel a CNG.
Esta iniciativa es parte de un Acuerdo de Desarrollo Conjunto de 70 millones de dólares anunciado en abril de 2023, con planes de construir hasta 20 estaciones de combustible CNG en todo el oeste de Canadá en los próximos cinco años. La red podría abastecer hasta 3.000 camiones de gas natural diarios una vez completada. La adopción de CNG se ha acelerado en el último año, con nueve empresas líderes en el mercado que ya están desplazando dos millones de litros de diésel colectivamente.
La introducción del nuevo motor de gas natural X15N de Cummins se espera que impulse aún más la adopción de CNG en el mercado de camiones pesados. La construcción de la próxima estación de combustible CNG comenzará en Kamloops, B.C., con Fort McMurray y Fort St. John a seguir.
투어말린 오일 주식회사와 클린 에너지 퓨얼스 주식회사가 앨버타에 두 개의 새로운 압축 천연가스(CNG) 주유소를 열어 서부 캐나다 최초의 상업용 공공 CNG 주유 네트워크를 발전시켰습니다. 캘거리와 그란드 프레리에 있는 새로운 주유소와 2023년 4월에 개장한 에드먼튼 주유소는 디젤에서 CNG로 전환하는 화물 운송 회사들을 위한 중요한 운송 회랑을 확립합니다.
이번 프로젝트는 2023년 4월에 발표된 7000만 달러의 공동 개발 협정의 일환으로, 향후 5년 내에 서부 캐나다 전역에 20개 CNG 주유소를 건설할 계획입니다. 네트워크가 완공되면 하루에 3000대의 천연가스 차량에 연료를 공급할 수 있습니다. CNG의 채택은 지난해에 급증했으며, 이미 아홉 개의 시장 선도 기업이 200만 리터의 디젤을 대체하고 있습니다.
커민스의 새로운 X15N 천연가스 엔진 도입은 중대형 트럭 시장에서 CNG 채택을 더욱 촉진할 것으로 예상됩니다. 다음 CNG 주유소는 B.C.주 카무룹스에서 건설이 시작될 예정이며, 포트 맥머리와 포트 생존도 뒤따를 예정입니다.
Tourmaline Oil Corp. et Clean Energy Fuels Corp. ont ouvert deux nouvelles stations de ravitaillement en gaz naturel comprimé (CNG) en Alberta, faisant progresser le premier réseau public de ravitaillement CNG de qualité commerciale dans l'Ouest canadien. Les nouvelles stations à Calgary et Grande Prairie, ainsi que la station d'Edmonton ouverte en avril 2023, établissent un important corridor de transport pour les entreprises de transport qui convertissent leurs flottes de diesel à CNG.
Cette initiative fait partie d'un Accord de Développement Conjoint de 70 millions de dollars annoncé en avril 2023, avec des projets de construction de jusqu'à 20 stations de ravitaillement CNG à travers l'Ouest canadien dans les cinq prochaines années. Le réseau pourrait ravitailler jusqu'à 3.000 camions fonctionnant au gaz naturel par jour une fois terminé. L'adoption du CNG s'est accélérée au cours de la dernière année, avec neuf entreprises leaders du marché ayant déjà collectivement remplacé deux millions de litres de diesel.
L'introduction du nouveau moteur à gaz naturel X15N de Cummins devrait encore promouvoir l'adoption du CNG sur le marché des camions lourds. La construction de la prochaine station de ravitaillement CNG est prévue pour commencer à Kamloops, C.-B., suivie par Fort McMurray et Fort St. John.
Die Tourmaline Oil Corp. und die Clean Energy Fuels Corp. haben zwei neue Tankstellen für komprimiertes Erdgas (CNG) in Alberta eröffnet und damit das erste öffentliche CNG-Tankstellennetz kommerziellen Grades in Kanada vorangetrieben. Die neuen Tankstellen in Calgary und Grande Prairie, zusammen mit der im April 2023 eröffneten Tankstelle in Edmonton, etablieren einen wichtigen Transportkorridor für Transportunternehmen, die ihre Flotten von Diesel auf CNG umstellen.
Diese Initiative ist Teil eines 70 Millionen Dollar umfassenden Joint Development Agreements, das im April 2023 angekündigt wurde, mit dem Ziel, in den nächsten fünf Jahren bis zu 20 CNG-Tankstellen im Westen Kanadas zu bauen. Das Netzwerk könnte einmal fertiggestellt bis zu 3.000 erdgasbetriebene Trucks täglich betanken. Die Akzeptanz von CNG hat sich im letzten Jahr beschleunigt, wobei neun marktführende Unternehmen bereits gemeinsam zwei Millionen Liter Diesel ersetzt haben.
Die Einführung des neuen Cummins X15N Erdgasmotors wird voraussichtlich die CNG-Akzeptanz im Schwerlastverkehr weiter fördern. Der Bau der nächsten CNG-Tankstelle soll in Kamloops, B.C. beginnen, gefolgt von Fort McMurray und Fort St. John.
- Opening of two new CNG fueling stations in Alberta, expanding the network
- $70 million Joint Development Agreement to build up to 20 CNG stations in 5 years
- Nine market-leading companies have already displaced two million litres of diesel
- Potential to fuel up to 3,000 natural gas-powered trucks daily once network is complete
- Introduction of Cummins' X15N natural gas engine to boost CNG adoption
- None.
Insights
The opening of new CNG fueling stations by Tourmaline and Clean Energy marks a significant step in the development of Western Canada's first commercial-grade natural gas fueling corridor. This $70 million joint venture aims to build up to 20 CNG stations across Western Canada in five years, potentially fueling 3,000 natural gas-powered trucks daily.
The initiative has already gained traction, with nine market-leading companies displacing two million litres of diesel using CNG technology. The introduction of Cummins' X15N natural gas engine further supports this shift, offering diesel-like performance with reduced emissions.
This development could have substantial long-term implications for the energy and transportation sectors in Western Canada. It represents a significant opportunity for
The shift from diesel to compressed natural gas (CNG) in long-haul trucking presents significant environmental benefits. CNG-powered vehicles emit lower levels of carbon dioxide, nitrogen oxides, sulphur dioxide and particulate matter compared to traditional diesel engines.
The infrastructure being developed by Tourmaline and Clean Energy is also future-proofed for renewable natural gas (RNG), which could further reduce emissions. This aligns with growing ESG concerns among investors and could position CLNE favorably in the sustainable energy market.
However, it's important to note that while CNG offers environmental improvements over diesel, it's still a fossil fuel. The long-term sustainability of this solution may depend on the successful transition to RNG or other zero-emission technologies. Investors should consider both the immediate positive impact and the potential for future technological shifts in this sector.
The collaboration between Tourmaline and Clean Energy Fuels Corp. (CLNE) demonstrates a strategic move to capitalize on the growing demand for cleaner fuel alternatives in the transportation sector. The rapid expansion of their customer base to nine market-leading companies in just over a year indicates strong market potential.
The support from major players like Mullen Group, planning to nearly double its CNG-fueled truck fleet and positive feedback from industry giants like Walmart and UPS on the new Cummins X15N engine, suggest a favorable outlook for CNG adoption. This could translate into increased demand for CLNE's services and potentially drive revenue growth.
However, investors should be aware of potential risks, such as the pace of infrastructure development, the rate of fleet conversions and possible future competition from electric or hydrogen-powered trucks. CLNE's ability to execute this expansion efficiently and capture market share will be important for its stock performance in the medium to long term.
The expanding network of fueling stations represents a significant diesel displacement opportunity by providing a reliable source of compressed natural gas (CNG) for long-haul trucks and other fleets
Tourmaline and Clean Energy CNG Calgary Station Opening (Photo: Business Wire)
Powering long-haul trucks and other fleets with CNG results in lower emissions of carbon dioxide, nitrogen oxides, sulphur dioxide and particulate matter compared to traditional diesel-powered vehicles.
“We are expanding our multi-year diesel displacement initiative by making CNG more readily available to heavy-duty trucking companies,” said Michael Rose, Chairman, President and CEO, Tourmaline. “Right here in
The
“The adoption of CNG has continued to accelerate over the last year, as more companies recognize the benefits of displacing diesel with a reliable fuel that is easy to use and extremely cost competitive for fleets,” said Andrew Littlefair, President and CEO, Clean Energy. “The development of this critical infrastructure is perfectly timed as the important new X15N natural gas engine from Cummins is being introduced to the trucking industry to rave reviews. We expect that the combination of more fueling locations and the new engine technology, which is perfectly suited for the Canadian market, will pave the way for continued growth of CNG.”
Cummins, one of the world’s leading engine manufacturers, has recently introduced its X15N natural gas engine into the Canadian and
Mullen Group Ltd. (Mullen Group), the first company to support the Tourmaline and Clean Energy initiative, plans to leverage the new X15N engine as it prepares to nearly double its fleet of CNG-fueled trucks.
“As one of
“Western Canada's first natural gas highway is taking shape right here in
Once complete, the 20-station network could fuel up to 3,000 natural gas-powered trucks daily. Construction on the next CNG fueling station is set to begin in
Visit our media kit for images, b-roll, fact sheets and videos of support from
Additional quotes:
“Having access to commercially available, compressed natural gas fueling is important to our industry and with the continued addition of accessible fueling infrastructure, we can continue to adopt natural gas fueling options across the region. At GFL, we have long recognized the benefits of utilizing this technology in our own operation and will now have the ability to replace more diesel with CNG in additional markets as infrastructure comes online.”
- Tyler Stefure, Fleet Director for
“As a strategic supply chain partner, with more than 850 alternative-fuel vehicles globally, Martin Brower is continuing to expand our fleet of CNG-powered vehicles across
- Amy Senter, Global Vice President of Sustainability, Martin Brower
About Tourmaline Oil Corp.
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About Clean Energy Fuels Corp.
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Reader Advisories
Currency
All amounts in this joint news release are stated in Canadian dollars unless otherwise specified.
Forward-Looking Information
This joint news release contains forward-looking information and statements (collectively, "forward-looking information") within the meaning of applicable securities laws including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation information and statements about: the benefits of the joint development agreement including that the investment pursuant to the agreement will result in Western Canada’s first commercial-grade public CNG fueling network and establish a crucial transportation corridor for trucking companies converting their fleets from diesel to CNG; the number of CNG stations proposed to be constructed and the number of natural gas-powered trucks that could be fueled by such stations, the timeframe for such construction and the anticipated investment pursuant to the joint development agreement; the expectation that Mullen Group will use the network of stations to fuel its growing fleet of CNG-powered trucks; the expectations that the CNG stations will pave the way for RNG availability in the future; the timing and location for the next CNG stations that Tourmaline and Clean Energy expect to open; and the other benefits of CNG and CNG stations generally. Actual results and the timing of events could differ materially from those anticipated in the forward-looking information.
The forward-looking information made herein speak only as of the date of this joint press release and, unless otherwise required by law, neither Tourmaline nor Clean Energy undertakes any obligation to publicly update such forward-looking information to reflect subsequent events or circumstances. Additional information on these and other factors that could affect Tourmaline, or its operations or financial results, are included in Tourmaline's most recently filed Management's Discussion and Analysis (See "Forward-Looking Statements" therein), Annual Information Form (See "Risk Factors" and "Forward-Looking Statements" therein) and other reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR+ website (www.sedarplus.ca) or Tourmaline's website (www.tourmalineoil.com). Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking information contained in this joint news release.
Market, Independent Third-Party and Industry Data
Certain information contained in this joint news release relating to environmental or statistical data including the cost savings associated with fueling vehicles with CNG instead of retail diesel prices and the CO2 reduction equivalents of removing passenger vehicles from the road have been derived from market, independent third-party and industry data and is based upon, or derived from, information or estimates from government or other independent industry publications and reports. Government and industry publications and reports generally indicate that they have obtained their information from sources believed to be reliable, but neither Tourmaline nor Clean Energy has conducted its own independent verification of such information or ascertained the underlying assumptions relied upon by such sources. While Tourmaline and Clean Energy believes this data to be reliable, market and industry data is subject to variations and cannot be verified with complete certainty due to limits on the availability and reliability of raw data, the voluntary nature of the data gathering process and other limitations and uncertainties inherent in any statistical survey.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241022891800/en/
FOR FURTHER INFORMATION, PLEASE CONTACT:
Tourmaline Oil Corp.
Michael Rose
Chairman, President and Chief Executive Officer
(403) 266-5992
OR
Tourmaline Oil Corp.
Brian Robinson
Chief Financial Officer
(403) 767-3587; brian.robinson@tourmalineoil.com
OR
Tourmaline Oil Corp.
Scott Kirker
Chief Legal Officer
(403) 767-3593; scott.kirker@tourmalineoil.com
OR
Tourmaline Oil Corp.
Jamie Heard
Vice President, Capital Markets
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OR
Tourmaline Oil Corp.
Suite 2900, 250 – 6th Avenue S.W.
Phone: (403) 266-5992; Facsimile: (403) 266-5952
E-mail: info@tourmalineoil.com
Website: www.tourmalineoil.com
Clean Energy media contact:
Clean Energy Fuels Corp.
Kimberly Fleer
Manager, Corporate Communications
(949) 437-1447; kimberly.fleer@cleanenergyfuels.com
Source: Clean Energy Fuels Corp.
FAQ
How many new CNG stations did Tourmaline and Clean Energy open in Alberta?
What is the total investment for the CNG fueling station network by Tourmaline and Clean Energy (CLNE)?
How many CNG fueling stations do Tourmaline and Clean Energy plan to build in Western Canada?
How much diesel has been displaced by companies using the CNG network so far?
Where will the next CNG fueling station be constructed in the Tourmaline and Clean Energy (CLNE) network?
