NEW YORK, NY--(Marketwire - Nov 1, 2012) - America's focus on lowering its dependence on foreign oil has caused a spike in demand in the natural gas vehicle (NGV) market. The U.S. Energy Information Administration and the Potential Gas Committee has estimated that the U.S. holds a minimum of 100 years' worth of proven natural gas reserves. Five Star Equities examines the outlook for companies in the Alternative Auto Parts Industry and provides equity research on Clean Energy Fuels Corp. (
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A coalition of 22 U.S. governors, led by Oklahoma Governor Mary Fallin and Colorado Governor John Hickenlooper, has stated that their states would be willing to purchase up to 10,000 new compressed natural gas (CNG) cars and pickups a year. By providing a market for CNG vehicles it has given auto manufacturers an incentive to lower costs of NGVs, which currently run roughly $10,000 more than their gasoline counterparts.
"The initiative has been enormously successful," Governor Fallin said. "We asked auto manufacturers to develop products that were more affordable and functional. With the combined purchasing power of our 22 states, we successfully provided the incentive to do so. States will now have the incentive and ability to begin converting their fleets to CNG while saving millions of dollars in taxpayer money."
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Clean Energy is the largest provider of natural gas fuel for transportation in North America and a global leader in the expanding natural gas vehicle fueling market. The company has recently signed an agreement with the Commonwealth of Virginia to provide natural gas and vehicle conversion services. Clean Energy is scheduled to release their third quarter results on November 7, 2012.
Quantum Fuel Systems Technologies Worldwide is a global leader in natural gas, hybrid/electric and hydrogen vehicle technologies. The company recently reported that it has been awarded a new development contract from Fisker Automotive for advanced product development on the Fisker Karma. Quantum is scheduled to release their third quarter results on November 5, 2012.
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