NEW YORK, NY -- (Marketwire) -- 06/29/12 -- Plummeting natural gas prices and pressure to reduce emissions have made natural gas a viable option as an alternative fuel. Roughly 70 percent of our oil consumption is from gasoline. "This abundance of natural gas is something we weren't expecting as a country, but it's here now, and it's a gift we should take advantage of," says Steven Mueller, chief executive of Southwestern Energy Co. "There's huge savings here and a way to help to environment." Five Star Equities examines the outlook for companies in the Alternative Fuels Industry and provides equity research on Clean Energy Fuels Corp. (NASDAQ: CLNE) and Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ: QTWW).
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Major auto-manufacturers such as Ford, GM, and Chrysler have begun developing vehicles that run on natural gas as U.S. consumers have finally begun to consider the commodity an alternative to gasoline. Ford currently offers eight powered natural gas vehicles, while Chrysler back in March unveiled a pickup truck that runs on liquefied natural gas. Westport Innovations just recently signed second deal with GM to develop natural gas engine technology. The first deal was announced last June. The governments of Pakistan and Iran have mandated a switch to natural gas vehicles. According to the Wall Street Journal the number of natural gas vehicles in the two countries totals 2.7 million and 1.9, respectively.
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BAF Technologies, a wholly owned subsidiary of Clean Energy Fuels, recently announced the acquisition of Belleville, Michigan-based ServoTech Engineering, Inc., an auto emissions solutions provider. BAF, the leading U.S. provider of natural gas vehicle systems and conversions, recently produced its 20,000th compressed natural gas (CNG) vehicle conversion. BAF is the first CNG converter to be recognized as a Ford Qualified Vehicle Modifier for gaseous fuels.
Quantum Fuel Systems recently announced that it has received two new purchase orders from leading natural gas vehicle system integrators for supplying its industry-leading, ultra-lightweight carbon composite compressed natural gas (CNG) storage tanks for transportation applications. The purchase orders are valued at $2.8 Million.
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