Date: May 11, 2012
Source: Waste Management, Inc.
Waste Management, Inc. (Houston, TX) plans to open another compressed natural gas (CNG) fueling station near its home town that will enable the company to grow its fleet of CNG-powered vehicles in the area from 5 to 35 by the end of the year. The station in nearby Conroe, TX will service Waste Management's local fleet and sell CNG to commercial fleets and even retail customers with CNG-equipped vehicles.
Last month, Waste Management CEO David Steiner spoke to Mad Money's Jim Cramer about the company's natural gas initiatives including plans to expand its fleet of CNG vehicles to 30,000 from its present number of 1,400. Consequently, he said 90 percent of new fleet purchases over the next five years will be for CNG vehicles.
PRESS RELEASE
May 11, 2012
Waste Management Expands Natural Gas-Powered Fleet and Opens Conroe CNG Fueling Station
CNG, which reduces air pollution in collection vehicles, is now available to local commercial fleets and will soon be to retail customers
Waste Management (NYSE: WM) today announced plans to expand its fleet of natural gas-powered collection vehicles in the Houston area and open a new compressed natural gas (CNG) fueling station in Conroe that will increase access to the clean-burning fuel.
Joining Waste Management at the opening event were representatives from the City of Conroe and from Parkway Family and NGV Conversions.
Waste Management currently operates five CNG-powered collection vehicles in Houston's north suburban communities and expects to roll out an additional 35 in the area by the end of 2012. The public fueling station will refuel Waste Management's local fleet and sell CNG to commercial fleets. Soon, it will also open to retail consumers with CNG-equipped vehicles.
"Since natural gas-powered collection trucks run cleaner and quieter, we've made the commitment to use more in our local operations and support them and our community by opening a public CNG station," said Don Smith, area vice president for Waste Management's Texas and Oklahoma region.
"We are dedicated to providing our customers with outstanding service while doing business in the most sustainable manner possible."
CNG is one of the cleanest fuels currently available for use in heavy-duty trucks. Its use reduces particulate matter emissions to nearly zero, carbon monoxide emissions by 75 percent, nitrogen oxide emissions by up to 49 percent, and carbon dioxide emissions by 25 percent. As an additional benefit, CNG offers cost savings compared to traditional fuels and runs 50 percent quieter than diesel trucks.
The Conroe fueling station and local CNG vehicles are one element in Waste Management's larger sustainability efforts. In 2007, the company set a goal of reducing fleet emissions by 15 percent and increasing fuel efficiency by 15 percent by 2020.
"Waste Management already operates over 1400 CNG vehicles, the largest fleet of CNG recycling and waste collection trucks in North America," said Eric Woods, vice president of Fleet & Logistics, Waste Management. "Each additional Class 8 diesel truck we replace with natural gas reduces diesel use by an average of 8,000 gallons per year and cuts annual greenhouse gas emissions by an average of 22 metric tons.
"In 2012, natural gas vehicles will represent 80 percent of our annual new truck purchases and continue for the next five years. We also have 28 fueling stations in North America and plan to have 50 in operation by the end of 2012."
ABOUT WASTE MANAGEMENT
Waste Management (WM) is the leading provider of comprehensive waste management services in North America. Through its subsidiaries, the company provides collection, transfer, recycling and resource recovery, and disposal services. It is one of the largest residential recyclers and also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in North America. The company's customers include residential, commercial, industrial, and municipal customers throughout North America. To learn more information about Waste Management visit www.wm.com or www.thinkgreen.com.
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