Accessibility

Clean Energy joins natural gas vehicle investment

Posted on August 11, 2008

Clean Energy Fuels Corp. has joined an investment group providing funding to help launch a new, natural gas vehicle made in the U.S. for taxi and paratransit use.

The company has committed a $10-million investment in an overall $160-million equity financing led by Perseus LLC, a merchant bank and private equity fund management company.

Separately, Clean Energy's co-founder, T. Boone Pickens, has committed a $10-million investment to the funding package. The funding will be provided to The Vehicle Production Group LLC, the original equipment manufacturer of the multi-purpose vehicle.

The new vehicle, available in both gasoline- and natural gas-powered models, is durable, cost-efficient to operate and easy to maintain. It provides seating positions for four passengers and additional space for a wheelchair or scooter, in compliance with the vehicle standards of the Americans with Disabilities Act (ADA) and the Canadian Standards Association (CSA).

VPG expects to begin delivery of the vehicles in 2010.

View comments or post a comment on this story. (0 Comments)

More News

Profile: Chris Pangilinan, Program Director at TransitCenter

When Chris Pangilinan was a little kid, riding in the backseat of his family’s station wagon, the red stoplights annoyed him. “I would think, Why is this so inefficient? Why do we have to stop all the time?” he recalls...

Phoenix Transit enhances Dial-a-Ride with 'overflow' service

The approved partnership between Dial-a-Ride contractor MV Transportation and their subcontractor Discount Cab provides overflow service during the regular service day.

N.Y. paratransit costs skyrocketing, lack of subway elevators cited: study

Access-A-Ride cost $85.2 million and carried 1.7 million rides in 2000, increasing to an estimated $506 million this year for more than 6.3 million trips.

Milwaukee transit sets paratransit record with 100K rides

The milestone comes on the heels of MCTS receiving national recognition for outstanding service to the ADA community.

Uber, taxicabs vying for New York MTA paratransit contracts

Several months ago, the state agency quietly began a “proof of concept” study in which Access-a-Ride users request a ride and the MTA dispatches one through an e-hail app such as Uber, Arro or Curb, the latter two used by cabs.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close