SOURCE: Paragon Financial Limited
NEW YORK, NY--(Marketwire - Aug 17, 2012) - The nation's abundance of natural gas has made it a cheaper and cleaner alternative to diesel and gasoline. Oklahoma Governor Mary Fallin last week met with representatives from U.S. auto manufacturers and purchasing officials to solicit bids, as there are currently 22 states looking to purchase natural gas-powered vehicles for their government fleets. The Paragon Report examines investing opportunities in the Alternative Fuels Industry and provides equity research on Westport Innovations Inc. (NASDAQ: WPRT) (TSX: WPT) and Clean Energy Fuels Corp. (NASDAQ: CLNE).
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"We're serious. We're ready to buy natural gas vehicles now," Gov. Fallin said. "We all know that natural gas is a cleaner form of energy. It's an abundant form of energy. It's a less expensive and cheaper form of energy, one that will not only create American-made jobs, it will be good for our national security and economic security."
There are currently 123,000 compressed natural gas (CNG) vehicles, and 1,000 fueling stations in the U.S. One of the major obstacles preventing more widespread adoption of CNG vehicles has been the access to the necessary infrastructure.
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Westport Innovations Inc. is a leading global supplier of proprietary solutions that allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen, and renewable natural gas (RNG) fuels such as landfill gas and help reduce greenhouse gas emissions (GHG). For the calendar year ended December 31, 2012, the company expects revenue growth of roughly 50 percent year-over-year and consolidated revenues to be in the range of $400 and $425 million.
Clean Energy is the largest provider of natural gas fuel for transportation in North America and a global leader in the expanding natural gas vehicle fueling market. The company has operations in compressed natural gas (CNG) and liquefied natural gas (LNG) vehicle fueling and construction and operation of natural gas fueling stations. Gallons delivered for the second quarter of 2012 totaled 48.6 million gallons, up 24% from 39.2 million gallons delivered in the same period a year ago.
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