Motorcoach

Clean Energy to acquire BAF Technologies

Posted on September 25, 2009

Clean Energy Fuels Corp. has signed a purchase and sale agreement to acquire BAF Technologies Inc. (BAF) of Dallas, a provider of natural gas vehicle systems and conversions in the U.S.

 

The acquisition will close upon each party meeting certain closing conditions. The purchase price payable at the closing of the acquisition of BAF is approximately $8.3 million. Pursuant to the terms of the acquisition agreement, the purchase price will be used in part to pay off the outstanding debt of BAF.

 

Due to the fact that approximately $3.8 million of BAF's outstanding debt is held by Clean Energy Finance, a wholly owned Clean Energy subsidiary, Clean Energy anticipates paying a net amount of approximately $4.5 million in cash to acquire BAF at the closing.

 

"BAF is a well-known company within the alternative fuel vehicle business providing product for several of our target markets," said Andrew J. Littlefair, Clean Energy's President and CEO.  "This action will give confidence to potential fleet customers in the light-duty arena who are considering transitioning their fleets to natural gas fuel. BAF will provide a significant resource for light-duty vehicle conversions as well as the ability to work with the automakers to develop additional U.S. products."

 

Founded in 1992, BAF provides natural gas vehicle conversions, alternative fuel systems, application engineering, service and warranty support and research and development. Its vehicle conversions include taxis, limousines, vans, pick-up trucks and shuttle buses. The company utilizes advanced natural gas system integration technology and has certified NGVs under both EPA and CARB standards achieving Super Ultra Low Emission Vehicle (SULEV) emissions. 

 

 

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

More News

Mont.'s Karst Stage adds first Temsa vehicle

The new coach is equipped with Alcoa wheels, 110-volt outlets, ample underfloor luggage space, three-point seat belts, and a Cummins/Allison powertrain.

ABA to kick off 2017 Capitol Hill Fly-In

Will provide ABA members an opportunity to meet with their elected legislative officials and staff to discuss the important issues facing the motorcoach, travel, and tourism industries today.

MCI adds to new coach, pre-owned coach sales teams

Shane Shipman has joined MCI as new coach sales VP, southeastern U.S. He is taking over the territory from Brian Lichter, who is returning to MCI Pre-Owned Coach sales representative for the Midwest, effective May 1.

UMA names Tetschner president/CEO

He comes to UMA following 25 years at the National Speakers Association where he served as CEO for the past 18 years.

Seattle launches shared transit stop pilot with Microsoft

The six-month program allows private shuttle buses operated by participating companies to use public transit stops.

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