GE Capital, Canada and Gaz Métro Transport Solutions (GMTS), a subsidiary of Gaz Métro, have signed a strategic agreement to facilitate the use of natural gas as a fuel in Eastern Canada’s trucking industry.
Cost effective and more environmentally friendly
A switch to natural gas engines would allow trucking companies to reduce their environmental footprint. Natural gas emits up to 25% less greenhouse gas than diesel, whilst also costing up to 30% less, according to the International Energy Agency.
Fleet operators working with GMTS and GE Capital
Under this agreement, fleet operators will work with both GMTS and GE Capital, separately. GMTS will provide a supply of natural gas whilst GE Capital will secure loans or leases for natural gas vehicles (NGVs). Either CNG or LNG must be used to fuel these NGVs.
GE Capital offers financing to Canada’s commercial trucking sector and, since its creation in 2010, GMTS has become a leader in the alternative fuels space in Quebec, for both advisory and deployment of natural gas refuelling stations.
A smart way to diversifying fuel portfolios
Véronique Haché, Strategic Initiative Leader for Natural Gas Vehicles at GE Capital, commented: “As someone with nearly a decade of experience in the transportation industry, I understand how critical it is for fleet operators to reduce their fuel costs. To remain competitive, they need to cut 3%-5% annually just to keep up with the market.”
“Transitioning to natural gas is a smart way to diversify their fuel portfolios and reduce those costs. Through this agreement, we’re giving trucking company leaders the financial motivation to make the shift from diesel to natural gas.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/08072015/accelerating-the-use-of-natural-gas-as-fuel-in-canadian-trucks/