TruStar Energy completed 41 compressed natural gas (CNG) stations for public and private use in 2015, almost doubling the number of CNG stations it built in 2014, and reaching 120 completed stations during a period of unusually low oil prices, according to the company.
The demand for public and private CNG-fueling stations by fleet owners and operators across the U.S. is continuing to increase because the lower carbon fuel delivers more stable pricing, is a cleaner fuel than diesel and can still provide an attractive ROI for certain applications. Lack of a U.S.-wide CNG fueling infrastructure remains a challenge to wider adoption of CNG in the trucking industry, according to TruStar.
"Despite the low price of oil, the transition to CNG still makes environmental and financial sense for many fleet owners," said Adam Comora, president of TruStar Energy. "We are seeing strong demand for CNG fueled vehicles and fueling stations in the refuse industry because of the financial benefits and by municipalities where sustainability is of paramount importance. With the right application, larger corporations that operate their own fleets are beginning to shift to CNG because the economics can still be supported and the abundant, domestically produced fuel shields them from the volatility of diesel prices."
CNG is insulated from price volatility of diesel and gas that comes from international conflicts and events, which in recent years has been responsible for dramatic price fluctuations. As for the environment, CNG-powered engines produce 30% less greenhouse gas, and do not need the costly exhaust after treatment devices and DEF fluid required for diesel engines. Natural gas engines also have an average of 80% to 90% lower decibel level than diesel engines, according to TruStar.
For 2016, TruStar Energy sees another strong year of construction revenue growth, expansion of TruStar Energy branded public locations and the continued roll out of a TruStar Energy national service platform. Based on our contracted pipeline, TruStar Energy will be approaching 80 million GGE (gasoline gallon equivalent) under long term service agreements by the end of 2016.
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