IMW Industries, a subsidiary of Clean Energy Fuels, has signed an agreement with China Gas Holdings to supply around 416 natural gas compressors and related technologies for approximately $167m.
The company will supply natural gas compressors to build around 310 public-access compressed natural gas (CNG) stations in China, as part of the three-year deal.
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It will also supply a suite of its CleanGAS Technology products and services, which includes the CleanCNG Compressors, 186 dryers, 527 dispensers and 387,500 litres of buffer storage to China Gas’ joint venture distribution partners.
China Gas plans to spend $5m, secured from the transaction of Export Development Canada to purchase 29 CleanCNG Compressors that are expected to be delivered in the fourth quarter of 2013, and will be used to construct the first 19 stations.
China Gas Holdings executive chairman, managing director and president Liu Ming Hui said that the latest deal with IMW represents the integrity, innovation and cooperation of China Gas.
"IMW is the world-leader in natural gas vehicle compression technologies and the ideal strategic partner for China Gas as we continue to meet the growing transportation needs of our customers in an environmentally sustainable manner," Hui added.
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By GlobalDataChina Gas holds 194 natural gas projects, which includes exclusive piped gas development rights in 184 cities and regions, nine natural gas pipeline transmission projects, one natural gas exploration project, and 44 LPG distribution projects.
Image: IMW will supply natural gas compressors and related technologies to build public access CNG stations in China. Photo: courtesy of Zonk43.
