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Clean Energy Fuels and Westport Look to Benefit as NGVs Gaining Traction in Consumer Market

NEW YORK, NY--(Marketwire - Mar 7, 2013) - Natural gas vehicles have experienced a surge in demand over the past year as falling prices and abundant supplies have made the commodity a viable fuel option. Compressed natural gas (CNG) costs vary between $1.79 to $3.49 per gallon throughout the U.S., while gasoline and diesel averages $3.74 and $4.12, respectively. Research Driven Investing examines investing opportunities in the Auto Parts Industry and provides equity research on Clean Energy Fuels Corp. ( NASDAQ : CLNE ) and Westport Innovations Inc. ( NASDAQ : WPRT )( TSX : WPT ).

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Earlier this week, Ford Motor Co. reported they sold a record number of natural gas vehicles (NGVs) in 2012. Ford announced that they sold 11,600 NGVs in 2012, over three times the number of NGVs sold in 2010. General Motors Co. and Chrysler Group have recently begun selling natural gas pickup trucks, while Honda Motor Co. reported record U.S. sales of approximately 2,000 units for their natural gas Civic in 2012. The NGV market has experienced steady growth, but widespread adoption in the consumer market has been prevented by the lack of access to necessary infrastructure. Help may soon be on the way for the industry as General Electric is currently developing a $500 home fueling station that would connect to household gas lines.

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Clean Energy Fuels is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The company has operations in CNG and LNG vehicle fueling and construction and operation of natural gas fueling stations. Clean Energy recently reported gallons delivered for the full year 2012 totaled 194.9 million gallons, an increase of 25 percent when compared to a year ago.

Westport Innovations is a leading global supplier of proprietary solutions that allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen, and renewable natural gas fuels such as landfill gas and help reduce greenhouse gas emissions. The company recently announced that their Westport WiNG Power System will be available for order on the Ford F-450 and F-550 Super Duty Chassis Cab trucks starting April 1, 2013.

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