FAIRFIELD, Conn., Tue Nov 13, 2012 – General Electric Co. reached a deal to sell equipment to Clean Energy Fuels Corp., which is building out a series of liquefied natural gas fueling stations for U.S. truckers.
The largest U.S. conglomerate sees liquefied natural gas equipment as becoming a $1 billion market over the next five years, said Mike Hosford, general manager of unconventional resources for GE Oil & Gas.
Clean Energy, which counts T. Boone Pickens as its largest investor, agreed to buy two GE-made MicroLNG plants to provide liquefied natural gas for a network of 70 natural gas fueling stations it is opening at truck stops along U.S. interstate highways this year, the company said in a statement released on Tuesday.
“We currently have some LNG production facilities, but the country is going to need more,” said Andrew Littlefair, CEO of Clean Energy, in a statement released on Tuesday. “These two plants are critical in our next phase (of expansion) and we are going to need more plants over time.”