GE (NYSE: GE), Chesapeake (NYSE: CHK) Create CNG Option

Brian Hicks

Written By Brian Hicks

Posted October 11, 2012

How would you like easy access to CNG? That’s what General Electric (NYSE: GE) and Chesapeake Energy (NYSE: CHK) affiliate Peake Fuel Solutions have jointly come up with. Their “CNG in a Box” system is designed to facilitate adoption of CNG refueling choices for both large- and small-scale retailers.

CNG in a BoxAs you already know, there’s a domestic natural gas boom going on. It’s abundant, and it’s cheap. Clients using the “CNG in a Box” system can save around 40 percent on fuel costs compared to conventional options. It’s a plug-and-play on-site fueling setup, and it offers a lower-cost, convenient refueling experience.

From GE’s press release:

“In collaboration with Peake Fuel Solutions, GE is developing infrastructure solutions to accelerate the adoption of natural gas as a transportation fuel,” said Mike Hosford, general manager—Unconventional Resources, GE Oil & Gas. “The CNG In A Box system is a unique fueling solution that brings together some of the best innovation from across GE to help fleet owners and everyday drivers realize the benefits of cleaner burning, abundant, more affordable natural gas.”

The system compresses natural gas from pipelines into CNG on-site at a normal fueling station or other industrial location. Vehicles can refuel tanks using a dispenser that resembles your ordinary gasoline dispenser.

GE Capital is funding the project, thus allowing for competitive rates and flexibility in payment options. Since the system is effectively combining equipment, delivery, and installation into one monthly charge, Peake Fuel Solutions’ customers can structure payments according to individual convenience.

The system comes in an 8 x 20 foot container, which makes for convenient shipping, and the unit’s modular makeup helps with quick setup.

The dispensers are made by Wayne (a GE Energy business), and they feature PCI-compliant pay-at-pump options. GE will be providing more than 250 such systems beginning this fall.

The “CNG in a Box” system was first showcased at the National Association of Convenience Stores 2012 Annual Show, and interested parties can visit the Peake booth (#6101) or the company website for more information.

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