North American natural gas for fuel provider Clean Energy Fuels Corp. has entered into a Securities Purchase Agreement to acquire Wyoming Northstar Incorporated and affiliates (Northstar) for an aggregate purchase price of approximately USD 10.9 million in cash. Northstar is a supplier of LNG/LCNG (liquefied to compressed natural gas) fueling system technologies in the United States, including the manufacturer of one of only two weights-and-measures certified LNG dispensers. It has provided LNG station design, construction, operations and maintenance for major clients, and has worked closely with Clean Energy for several years.
“Having Northstar, the premier LNG station provider, in our group will greatly enhance our ability to build out the growing natural gas fueling infrastructure in the United States,” said Andrew J. Littlefair, Clean Energy’s President and CEO. “Our plan envisions a fueling infrastructure serving major goods movement and trucking corridors nationwide.”
Clean Energy recently announced an agreement with Pilot Flying J Travel Centers to build, own and operate public access, LNG fueling facilities at agreed-upon Pilot Flying J truck travel centers nationwide. Pilot Flying J operates over 550 truck travel centers in 43 states and six Canadian provinces.
Littlefair added, “On the international front, growing interest in LNG fueling in markets such as China, where we have a strong developing presence through our subsidiary, IMW Industries, may provide infrastructure opportunity as well.”
Item primarily compiled using information from a Clean Energy Fuels press release.
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