News | August 22, 2014

GE Capital Fleet Services And VNG.co To Support Expansion Of Compressed Natural Gas (CNG) Fueling Infrastructure

EDEN PRAIRIE, MINN.--(BUSINESS WIRE)--

GE Capital Fleet Services today announced an agreement with VNG.co, a national CNG fueling facility provider, to support the expansion of the CNG refueling infrastructure for light-duty fleet vehicles.

With interest rising in CNG as a lower-cost, low-emissions fuel for light-duty fleets, GE Capital Fleet Services’ agreement with VNG is aimed at connecting and incenting fleet owners to use CNG-fueled vehicles.

Through the agreement with VNG, GE Capital Fleet Services’ customers will be able to take advantage of the increasing accessibility of CNG fueling stations, minimize overall fuel costs and meet financial and environmental objectives through the use of a lower cost, more stably priced, environmentally friendly and domestically sourced fuel.

VNG offers the benefits of fast-fill CNG fueling within existing retail gasoline stations, eliminating the need for fleets to own and maintain their own refueling stations. GE Capital Fleet Services works with its customers to identify opportunities to utilize natural gas vehicles (NGVs) within their fleets, and will work with VNG to pinpoint where additional fueling infrastructure is needed. VNG uses the GE CNG In A Box system for faster, easier deployment of its CNG fueling stations.

“We know from our customers that many commercial fleets want to adopt CNG vehicles. The barrier is the cost and availability of CNG fueling stations. Our alliance with VNG is a step toward breaking down this barrier,” said Kristi Webb, CEO of GE Capital Fleet Services.

“We’re working with VNG to make the connection between providers driving growth of the CNG refueling infrastructure – in the right markets and locations – and owners who want to grow their CNG fleets. This is one of several initiatives and alliances that GE has undertaken to advance the infrastructure for CNG as well as other alternative fuels,” Webb said.

“We are extremely pleased to work with GE Capital Fleet Services to make NGVs a smart, cost-effective and simple choice for fleet owners,” said Robert Friedman, Chief Operating Officer, VNG. “Our collaboration with GE Capital Fleet Services supports our mission of increasing the availability of convenient fast-fill CNG fueling to provide a high quality experience comparable to liquid fuels for all drivers of light-duty NGVs.”

About VNG.CO

VNG offers a nationwide CNG fueling solution to support and accelerate the widespread use of light-duty NGVs by national and regional fleets, and eventually the mass-market consumer segment. VNG takes responsibility for the installation, maintenance, monitoring and operation of its company-owned equipment, providing fleets with cost-effective, turnkey CNG fueling services located within existing retail gasoline stations. VNG is the nation’s CNG fueling solution.

For more information, please visit the company's website at www.vng.co or call (610) 709-5500.

About GE Capital Fleet Services

GE Capital Fleet Services, based in Eden Prairie, Minn., is a global fleet management company. With strategic consulting, deep analytical insights and experience in every industry, we’re uniquely positioned to help you continuously drive results – from the road all the way to the board room. In 2013, our fleet customers realized $209 million in savings through opportunities identified by our fleet team. Visit the website at www.gefleet.com or follow the company’s eco news and updates via Twitter (@GEFleetSvcs).

GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit www.gecapital.com or follow company news via Twitter (@GECapital). GE (NYSE:GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.


Copyright Business Wire 2014

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