Press release from Business Wire
Blu. Selects Industry Leader and Innovator – Ryder - for Liquefied Natural Gas Vehicle Lease Projects
<p class='bwalignc'> <i>Blu. to lease 55 LNG tractors from Ryder in Salt Lake City, Utah and Atlanta, Georgia</i> </p>
Monday, October 28, 2013
Blu. Selects Industry Leader and Innovator – Ryder - for Liquefied Natural Gas Vehicle Lease Projects07:55 EDT Monday, October 28, 2013
MIAMI (Business Wire) -- Ryder System, Inc. (NYSE: R), a leader in commercial transportation and supply chain management solutions, announced today that Blu., an operator of liquefied natural gas (LNG) refueling stations and provider of LNG technology solutions, has selected Ryder to provide LNG vehicles for Blu. fleets in Utah and Georgia. This represents the first time Ryder has partnered with a fuel station operator to launch a natural gas vehicle offering.
“This unique partnership demonstrates Ryder's commitment to finding innovative ways to increase adoption of natural gas vehicle technology among commercial fleets,” stated Dennis Cooke, President, Global Fleet Management Solutions for Ryder. “We have successfully implemented a number of different models for launching natural gas vehicle projects – from public/private partnerships to working directly with private fleets. Collaborating with a fuel station operator like Blu. is one more way we are helping customers overcome entry barriers, test the technology, understand the economics, and experience the cost saving and environmental benefits of running a natural gas fleet.”
Blu. has signed a Full Service Lease agreement with Ryder for 30 LNG tractors in Salt Lake City, Utah and 25 LNG tractors in Atlanta, Ga. as part of an effort to increase adoption of natural gas vehicles among commercial fleets in those markets. These are Ryder's first natural gas vehicle projects in Utah and Georgia. With a Full Service Lease, Ryder acquires vehicles according to customers' specifications, and provides financing, maintenance and value-added fleet support services, and then manages vehicle disposal to protect customers from residual risk.
Blu. began to take delivery of vehicles in September for its Salt Lake City fleet and will take delivery of vehicles for its Atlanta fleet in January. Blu. will make natural gas vehicles available to companies in these markets that are interested in testing the LNG trucks in their fleets for a first-hand opportunity to measure the results and savings that come from adopting a lower-cost fuel. Ryder is making investments to upgrade its existing maintenance facilities, one in Salt Lake City and one at its Fulton Industrial Center location outside of Atlanta, to meet the unique specifications required to service natural gas vehicles.
Ryder and Blu. have also entered into an agreement to jointly provide LNG fueling infrastructure at key Ryder facilities. The Fulton Industrial Center location will be the first of these co-located stations, supporting Ryder's contract customers and will accept all major fleet cards.
“We are very excited to be working with Ryder,” said Merritt Norton, CEO of Blu. “Working with a partner of their caliber allows us to bring logistics and transportation companies unparalleled access to this low-cost, clean, and domestic fuel.”
Based in Salt Lake City, Utah, Blu. builds and operates liquefied natural gas fueling stations throughout the U.S. and provides LNG technology solutions for trucking, mining, marine, and other industrial applications. It currently has 12 stations operational and expects to have more than 40 stations operational across the country by the end of 2013.
Ryder has deployed more than 320 Compressed Natural Gas (CNG) and Liquefied Natural Gas (LNG) vehicles with more than 40 Ryder customers in California, New York, Michigan, Arizona, Texas, and Louisiana. Ryder also operates Liquefied to Compressed Natural Gas (LCNG) fuel stations at its facilities in Fontana and Orange, Ca. For more information about how Ryder innovates for the environment, read our Corporate Sustainability Report.
Ryder is a FORTUNE 500® commercial transportation, logistics and supply chain management solutions company. Ryder's stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor's 500 Index. Ryder has been ranked three years in a row as one of the top 250 U.S. companies in the Newsweek Green Rankings. Ryder is a charter member of the NGV Fleet Forum and a member of the Department of Energy's National Clean Fleets partnership. Ryder is also a recipient of the 2011 NGV Achievement Award and has been recognized by the Carbon Disclosure Project (CDP) in the Carbon Disclosure Leadership Index. A member of the American Red Cross Disaster Responder Program, Ryder is proud to support national and local disaster preparedness and response efforts. For more information, visit www.ryder.com and follow us on Facebook, YouTube, and Twitter.
Blu. is dedicated to building the infrastructure and enabling technology to drive energy independence in the United States. Natural gas is a clean, abundant, and low-cost alternative to gas and diesel that can scale to meet our country's energy needs far into the future. Blu. provides total customer solutions for the transportation industry, including trucking, mining, marine, and industrial applications. For more information, visit www.BluLNG.com or follow us on Facebook and YouTube.
Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Ryder System, Inc.
Cindy Haas, (305) 500-4526
Jonathan Mayor, (305) 500-3161