NEW YORK, July 12, 2016 /PRNewswire/ --
There are many benefits for using alternative fuels. Besides
helping with obvious environmental concerns associated with fossil
fuels, alternative fuels also bring an economic edge to the table.
In macroeconomic terms, alternative fuels increase the number of
options available to drivers, by this increasing competition, and
reducing price volatility. Alternative fuels are categorized
as Biodiesel, Ethanol, Natural Gas, Propane,
and Hydrogen. Greenkraft, Inc.
(OTCQB: GKIT), Plug Power, Inc. (NASDAQ:
PLUG), FuelCell Energy, Inc. (NASDAQ: FCEL), Ballard
Power Systems, Inc. (NASDAQ: BLDP), Clean Energy
Fuels Corp (NASDAQ: CLNE)
Energy.gov reported that The Vehicle Technologies Office (VTO)
supports research and development (R&D) to improve how vehicles
can use these fuels in the future, as well as activities to
increase their availability today.
According to a report by Reportbuyer, the natural gas segment
accounted for more than 15% of the overall consumption in the
automotive internal combustion engine market in 2014. This
number is expected to grow the next few years, as natural gas is
part of the strategy in reducing the use of petroleum. The VTO is
planning to reduce petroleum use in transportation in the United States by 2.5 billion gallons a
year in 2025, and natural gas, as well as propane fuels are playing
a major role in achieving this goal. This in turn is expected to
cause a surge in demand for commercial as well as passenger
vehicles built especially or converted to alternative fuel
systems.
Such an industry already exists, and the demand is growing.
Companies like Greenkraft, Inc. (OTC: GKIT) for example have
built their entire business model around alternative fuel
automotive products. The company offers alternative commercial
forward cabin trucks and alternative fuel systems for various
vehicles. The commercial trucks are powered by alternative fuels
such as Compressed Natural Gas (CNG) and Liquefied petroleum gas
(LPG).
Greenkraft, as the name suggests, is trying to reduce emissions.
Recently the company has announced that it has achieved near zero
emissions on various alternative fuel products running, including
near zero emission engines in trucks that can be used across the
transportation industry throughout the USA.
Greenkraft, Inc. (GKIT) just announced the Company is now
manufacturing trucks designed to run with a package from Allison
Transmission Holdings, Inc. "Greenkraft trucks are used in a
variety of industries and are considered to be among the best
performing in the heavy-duty market. The first line of trucks with
Allison are available in classes from 19,500 LBS to 26,000 LBS
GVWR, as well as other versions Greenkraft has in development for
up to 33,000 LBS GVWR. These new trucks are game-changers not only
for the Company but for the entire alternative energy vehicle
industry as a whole."
Another example of a company which puts emphasize on natural gas
as an alternative fuel for a vehicle fleet is Clean Energy Fuels
Corp (NASDAQ: CLNE). They are engaged in supplying compressed
CNG, LNG and renewable natural gas (RNG) for light, medium and
heavy-duty vehicles, and providing repair and maintenance services
for vehicle fleet customer stations.
The fleets which can used natural gas as a fuel to reduce
the use of petroleum include a variety of vehicles such
as transit buses, refuse haulers, delivery trucks, and
long-haul trucks, which currently consume more than a third of the
petroleum used for transportation in the U.S.
Alternative energy is a diversified sector however, and other
companies like, Plug Power, Inc. (NASDAQ: PLUG), are dealing
with hydrogen fuels. The company claims that the future when
hydrogen and fuel cells will be ubiquitous globally is not far
away. Hydrogen fuels are a zero-emission fuels which uses
electrochemical cells, or combustion in internal engines, to power
vehicles and electric devices.
The same technology can be used in various ways and for
different purposes. FuelCell Energy, Inc. (NASDAQ: FCEL) for
example designs, manufactures, sells and installs, stationary fuel
cell power plants for distributed power generation. The power
plants are entirely environmentally friendly, and utilize a variety
of fuels including renewable biogas from wastewater treatment and
food processing, as well as clean natural gas, directed biogas and
propane.
Ballard Power Systems, Inc. (NASDAQ: BLDP) is a company
that provides both power products and technology solutions.
Ballard's power products are designed to meet the power needs of
customers through delivery of high value, clean energy fuel cell
products that offer superior performance at a reduced operating
cost. The technology solutions provide customers with high-value
services to accelerate fuel cell development and deployment
efforts.
The VTO plays an important role in the advancements of natural
gas in through the private sector, In 2015, the Fuel and
Lubricant Technologies subprogram continued to invest gaseous fuels
research, and funded projects to remove barriers so more efficient
gaseous fuel technologies could be used.
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