Constellation buys CNG Fuel’s seven stations
Constellation, an Exelon Corporation unit, said it reached an agreement with CNG Fuel to acquire seven compressed natural gas fueling stations in Indiana and Ohio.
Constellation will own and operate the stations as public/private-access fueling sites for regional and interstate transportation fleets.
There are an estimated 150,000 natural gas vehicles on the road today and that number is expected to grow. The economics for fleet conversion are compelling, according to global management consulting, technology and outsourcing company Accenture, which is working with Constellation on alternative fueling markets. Vehicle conversion and infrastructure development is underway throughout the United States, driven by expectations of long-term low price volatility in natural gas, corporate sustainability initiatives and potential additional incentives via developing carbon markets.
Constellation’s six CNG fueling stations are located in Indianapolis, Lafayette, Greensburg and Seymour, Indiana, and Dayton and Findlay, Ohio, with an additional fueling station currently under development in Fort Wayne, Indiana.
Press Release; Image: CNG Fuel