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


<< Nov 2015 >>
26 27 28 29 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 4 5 6

South East Asia LNG Conference 2015

South East Asia LNG Conference 2015 provides the opportunity to learn about SEA country plan on LNG projects…

read more >

Intergas – VII Oil, Gas & Petrochemicals

Intergas will showcase the opportunities, address the challenges and help drive the sustainable development of the industry.

read more >

Kurdistan-Iraq Oil & Gas Conference & Exhibition

The event, held under the high patronage of Kurdistan’s Ministry of Natural Resources, remains the one place where you will hear from the most well-known personalities of the global oil & gas industry

read more >

16th World LNG Summit & Awards Gala Dinner

The summit will provide a perfect opportunity to understand how key players are responding to the price fluctuations and what the outlook is for the future…

read more >