Clean Energy Fuels Corp. is acquiring FuelMaker Corporation, maker of the Phill home natural gas refuelling system (earlier post), from American Honda Motor Co. and the FuelMaker Trust for US$17 million in cash. The acquisition is expected to be completed within 25 days.
FuelMaker manufactures, distributes, installs and services vehicle refueling appliances (VRA) and accessories for fueling vehicles powered by compressed natural gas (CNG). The consumer version of the VRA is the Phill, a home refueling device that compresses natural gas from the home gas line for fueling vehicles.
The new era of high fuel prices has created a dramatic increase in demand for lower-cost natural gas fueling in all transportation sectors, ranging from trucking to consumers. Due to the greater worldwide acceptance of light duty natural gas vehicles, we are broadening our strategic focus to offer fueling solutions for small fleets and consumers. With the Phill unit, customers can fill up at home as well as at stations.
This acquisition also continues our business expansion outside the United States where natural gas vehicle use has risen dramatically to more than 8,000,000 vehicles worldwide. In Europe alone, there are many makes and models of natural gas-powered consumer vehicles produced by major manufacturers. We expect the majority of FuelMaker’s sales to be international in the near term.—Andrew Littlefair, Clean Energy President and CEO
The proprietary FuelMaker system for small fleet and home fueling is certified by gas associations in Canada, Germany, Russia, Australia, Japan, and Argentina, as well as the European Economic Community and the United States.
Clean Energy is the leading provider of natural gas (CNG and LNG) for transportation in North America.