Clean Energy Signs Agreement to Acquire Northstar, Advanced LNG Technology Leader (USA)

Clean Energy Fuels Corp. has entered into a Securities Purchase Agreement to acquire Wyoming Northstar Incorporated and affiliates  for an aggregate purchase price of approximately $10.9 million in cash. Approximately $7.4 million will be paid at closing with the balance paid in equal installments on each yearly anniversary date beginning in 2011 and ending in 2015. Clean Energy will also pay retention bonuses not to exceed $4.0 million in the aggregate over the four-year period following closing.

Northstar is the recognized leader in LNG/LCNG (liquefied to compressed natural gas) fueling system technologies, including the manufacture 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.”

Source: Clean Energy Fuels, December 8, 2010;

Share this article

Follow LNG World News

Events>

<< Jun 2016 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

European Autumn Gas Conference

EAGC will continue to explore micro commercial, strategic and political influences which are driving the EU Natural Gas and LNG agenda…

read more >

World LNG & Gas Series: 8th Asia Pacific Summit

The 8th Annual World LNG & Gas Series: Asia Pacific Summit is back in September…

read more >

Gas to Liquids

The volatile oil price has had a dramatic impact on the Gas to Liquids market and some large-scale projects’ operators have struggled to adapt to this unsteady landscape. Over the last 12 months, we have witnessed a few promising projects halt or even shut down altogether. However, whilst some doors have had to close, other doors are opening with interesting emerging markets on the new GTL field. A few companies have discovered ways to significantly reduce operating costs and prove to be commercially viable despite the current economic climate.

Against this backdrop, SMi’s 19th annual Gas to Liquids conference will discuss how GTL companies can work with the tumbling oil price and how they can build robust strategies and create effective alternative solutions to enable them to weather the storm. The programme will have a special focus on small-scale GTL projects, giving you the chance to hear first-hand success stories from leading GTL operators. The two-day event will provide the ideal platform for experts to discuss with peers what companies need in place in order to overcome today’s challenges, with leading industry figures dissecting cutting edge topics, including project financing, marketing of GTL projects and innovative alternative applications of GTL plants.

For more information and to register online, visit: www.gas-to-liquids.co.uk

read more >

The Rio Oil & Gas Conference 2016

Rio Oil & Gas 2016 will address topics from energy efficiency to sustainable Oil & Gas industry…

read more >