Chesapeake (NYSE: CHK) and 3M (NYSE: MMM) Explore CNG

Brian Hicks

Written By Brian Hicks

Posted February 15, 2013

In a press release recently, 3M (NYSE: MMM) stated that it has achieved NGV2-2007 certification for its first compressed natural gas tank. The tank, built for pickup trucks as well as corporate fleet vehicles, utilizes 3M’s Matrix Resin to achieve a light weight and cost and capacity efficiencies.

From BusinessWire:

“We are enthusiastic about the future of natural gas vehicles and are proud to introduce this tank to help companies take advantage of the benefits of natural gas as a transportation fuel,” said Mike Roman, Vice President of 3M’s Industrial Adhesive and Tapes Division, home to 3M’s advanced composites business. “With a tank that will help provide more range and more payload capacity at less expense, CNG vehicles are now an even more attractive alternative for fleet and individual retail customers alike.”

3M will present the tank at the NTEA Work Truck Show in Indiana in March, and the tanks will be available via five upfitters working with 3M: OEM Systems (Oklahoma), Venchurs Vehicle Systems (Michigan), Alternative Fuel Solutions (Pennsylvania), AVS (Utah), and World CNG (Washington).

This development comes after 3M and Chesapeake Energy Corporation (NYSE: CHK) declared last year that they would work together to design, manufacture, and commercialize a range of CNG tanks for the domestic vehicles market.

Chesapeake is expected to incorporate this tank into its own company vehicles, and 3M has more tanks up their sleeves. Both companies are converting much of their corporate fleets to CNG-fueled vehicles.


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