Ingevity receives grant to help fund demonstration of 28 adsorbed natural gas-powered trucks and vans with fleet partners across Pennsylvania

Rhea-AI Summary

Ingevity Corporation (NYSE:NGVT) has received a $256,000 grant from the Pennsylvania Department of Environmental Protection under the 2020 Alternative Fuels Incentive Grant Program. This funding will facilitate the use of renewable natural gas (RNG) and Ingevity's adsorbed natural gas (ANG) vehicle platform across eight fleets in Pennsylvania. The grant will cover half of the costs to equip 28 Ford trucks and vans with ANG technology and install fueling appliances. This project marks the first application of ANG technology in Pennsylvania, supported by local natural gas utilities and commercial partners.

Positive

• Award of $256,000 grant from Pennsylvania Department of Environmental Protection.
• First implementation of ANG technology in Pennsylvania, indicating regional support for innovation.
• Partnerships with major local natural gas utilities and commercial partners enhance credibility.

Negative

• None.

Ingevity Corporation (NYSE:NGVT) today announced it was awarded approximately $256,000 in funding from the Pennsylvania Department of Environmental Protection as part of the 2020 Alternative Fuels Incentive Grant (AFIG) Program. The grant will be used to demonstrate the economic and environmental benefits of renewable natural gas (RNG) and Ingevity’s adsorbed natural gas (ANG) vehicle platform with eight fleets throughout Pennsylvania. Representing the first use of ANG technology in the state, the AFIG award will cover half of the incremental cost to equip 28 Ford Super Duty F-250 trucks and Ford Transit vans with ANG technology and install complementary low-pressure fueling appliances for participants, as well as costs associated with data collection and analysis.

Ingevity’s grant proposal was supported by a majority of the state’s natural gas utilities, including Columbia Gas of Pennsylvania, National Fuel Gas, Peoples Natural Gas, Philadelphia Gas Works and UGI Corporation, as well as commercial partners such as Range Resources, Bloxdorf Contracting, Gateway Engineers and In City Farms. Participating fleets will cover the remaining 50% of the ANG vehicle upfit and fueling appliance costs.

“This award represents an important endorsement of the ANG platform in Pennsylvania as an economically viable, sustainable fueling solution,” said David Newton, vice president, corporate strategy, at Ingevity. “This is a significant leap as we continue to demonstrate the benefits of RNG as a transportation fuel in fleets across the U.S. We remain focused on growing ANG awareness and adoption through additional grant and subsidy opportunities, fleet partnerships, and collaboration with OEMs to adapt ANG technology on future light-duty vehicle platforms. We are honored to be an AFIG recipient and look forward to working closely with these fleet partners.”

ANG technology is made possible by the unique characteristics of Ingevity’s Nuchar® FuelSorb™ hardwood-based activated carbon, reducing the onboard storage pressure of natural gas to enable a low-cost and more environmentally friendly natural gas fueling solution for light-duty trucks and vans that – when using RNG - Natural Gas Vehicles of America cites can lower greenhouse gas emissions by up to 125%. The participants included in Ingevity’s award join a growing number of U.S. natural gas utilities and commercial stakeholders investing in ANG-equipped vehicles, including SoCalGas, Atlanta Gas Light, Ozinga Energy and the City of Orlando.

Since 1992, Pennsylvania’s Department of Environmental Protection has awarded AFIG Program funding annually to novel alternative fuel solutions in an effort to incentivize municipalities, utilities and corporations to invest in innovative technology that benefits the environment and supports economic development.

Ingevity: Purify, Protect and Enhance

Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in two reporting segments: Performance Chemicals, which includes specialty chemicals and engineered polymers, and Performance Materials, which includes high-performance activated carbon. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, publication inks, coatings, elastomers, bioplastics and automotive components that reduce gasoline vapor emissions. Headquartered in North Charleston, South Carolina, Ingevity operates from 25 locations around the world and employs approximately 1,750 people. The company is traded on the New York Stock Exchange (NYSE:NGVT). For more information visit www.ingevity.com.

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FAQ

What is Ingevity's recent funding announcement about?

Ingevity announced it received a $256,000 grant from the Pennsylvania Department of Environmental Protection for demonstrating renewable natural gas benefits via its ANG vehicle platform.

How will the grant from Pennsylvania affect Ingevity's operations?

The grant will fund half the costs to equip 28 Ford vehicles with ANG technology and install fueling equipment, expanding Ingevity's renewable energy initiatives.

When was the grant for Ingevity announced?

The grant was announced on the same day as the press release, which is dated May 24, 2021.

Which vehicles are being funded through Ingevity's grant?

The grant will support 28 Ford Super Duty F-250 trucks and Ford Transit vans equipped with ANG technology.

What are the expected benefits of the ANG technology used by Ingevity?

ANG technology is expected to provide a low-cost, environmentally friendly natural gas fueling solution that can significantly reduce greenhouse gas emissions.