REDWOOD CITY, CA--(Marketwire - Jun 13, 2012) - Propel Fuels (www.propelfuels.com), a leading retailer of renewable fuels and clean mobility solutions, today announced it has entered an exclusive supply agreement with Eco-Energy (www.eco-energyinc.com), a leading distributor of renewable fuels, to fulfill Propel's Flex Fuel E85 demand over the next three years. This agreement represents an important step in the maturing of the industry, further enabling high blend renewable fuels to compete head-to-head with petroleum fuels. Integrating the producer-to-pump supply chain reduces the cost and complexity of procuring, storing, and delivering renewable fuels, better positioning Propel during its accelerated rollout of hundreds of renewable fueling locations.
"This agreement will allow us to focus on our core mission of fueling progress by providing affordable choices for American drivers who are increasingly seeking access to renewable fuels," said Matt Horton, CEO of Propel. "Eco-Energy's extensive supply and distribution capabilities, and access to low cost feedstocks, strengthens our ability to provide great value to our customers. They are the perfect fit for us as we plan and execute the expansion of our fueling network."
Founded more than 20 years ago, Eco-Energy has worked to speed the evolution of renewable fuels in America. Their growth now positions Eco-Energy as the third-largest renewable energy marketer in the country. With an extensive network of biofuel producers across the country, Eco-Energy can help meet Propel's growing demand for domestically-produced, low carbon E85 ethanol in California and other future markets.
"As the number and popularity of Flex Fuel vehicles rapidly increases across America, both companies share a similar mission -- to expand the availability of high-blend, domestic fuels to drivers who want to be part of the solution," said Chad Martin, CEO of Eco-Energy. "Propel's dedication to providing drivers with access to high-blend renewable fuels through a superior fueling experience is unmatched in this industry and we are proud to join them in developing this growing market."
Propel operates a network of Clean Fuel Points (CFP), green-built, self-serve filling stations co-located at existing gas stations, and Clean Mobility Centers (CMC), which introduce renewable fuels (Flex Fuel E85, biodiesel blends) alongside the conventional fuels (gasoline, diesel) that drivers use today. Propel's CMCs also enable drivers to offset carbon from their fuel purchases at the pump, improve their vehicle's fuel economy through free air for their tires, find rideshare opportunities, tune bicycles, and recycle on the go.
As even more sustainable fuel technologies advance, Propel's station platform provides the flexibility to offer new fuel choices into the future. Propel will collaborate with Eco-Energy to identify and work with local producers and next-generation fuel suppliers to bring responsible, high performance, renewable fuels into all its fuel blends as it grows its network to more than 200 stations over the next five years. More information on Propel Fuels' current and future station locations can be found at www.propelfuels.com.
Headquartered in Redwood City, California, Propel Fuels builds, owns and operates a network of green-built filling stations providing convenient access to American, low carbon fuels and clean mobility solutions. The company offers consumers and fleets new fuel choices that make progress towards reducing carbon emissions, creating jobs, and lowering America's dependence on foreign oil. Propel has also developed CleanDrive®, the nation's first integrated carbon emission reduction tracking platform. Propel operates a growing network of locations providing cleaner mobility options in California and Washington State. More information is available at www.propelfuels.com and by following Propel on Twitter at: @PropelFuels.
Eco-Energy is an integrated biofuel supply chain company focused on the marketing, trading, transportation, and distribution of biofuels across the globe. Eco-Energy is among the largest full-service marketing companies in North America with over $3.0 billion in sales and handling nearly 10% of the biofuels market. By leveraging Eco-Energy's core competencies in logistics, distribution, and trading, Eco-Energy is able to provide innovative, value-added solutions for a more stable, disciplined, and vertically integrated supply chain.