Dependable has utilized SRECTrade's expertise to extract more value from its environmental commodity portfolio and reduce the total cost of ownership across its fleet operations.
SAN FRANCISCO, June 10, 2020 /PRNewswire-PRWeb/ -- Dependable Supply Chain Services ("Dependable" or the "Company"), a large West Coast regional LTL carrier in California, has partnered with SRECTrade, Inc. to power its electric transportation fleet with 100% renewable electricity.
As a proud partner in the Volvo LIGHTS program, Dependable has adopted a fleet of electric yard tractors, Class-8 electric trucks, electric forklifts and light duty charging stations to demonstrate the logistical and financial feasibility of transportation electrification in the 3PL industry. The electric fleet has been deployed at a variety of Dependable facilities in the Southern California region.
As part of Dependable's transition to a clean fuel fleet, SRECTrade is leading the Company's efforts to manage and maintain its portfolio of California Low Carbon Fuel Standard (LCFS) credit generating assets. The LCFS credits are monetized to help facilitate the return on investment in the low carbon vehicles and offset fuel and operational costs associated with the fleet. By pairing Dependable's electricity consumption with renewable energy, the Company has been able to generate additional quarterly incentive revenue equivalent to approximately $0.25 per kWh.
"The California Low Carbon Fuel Standard market has been a great incentive to drive us to seriously consider and adopt electricity as a fuel as a viable option for our fleet operations. Working with SRECTrade has allowed us to easily navigate the complexities of managing our LCFS credits and earn more value by powering our fleet with renewable electricity," said Troy Musgrave Dependable's Director of Process Improvement.
In addition to electrifying its fleet, Dependable is developing an on-site solar energy facility to power their expanding fleet of EV assets. Investing in on-site renewable generating capacity will further demonstrate grid independence and mitigate energy costs.
Committing to a 100% renewable electricity powered fleet is driven by Dependable's vision of recognizing viable opportunities and quickly reacting to changing market conditions ahead of its competitors.
"Now more than ever, we are proud to take on a pioneering role in transitioning our fleet to low carbon transportation assets," said Musgrave. "It is essential we push our industry forward in a more sustainable manner."
Currently, Dependable's renewable electricity is sourced from California-sited solar and wind energy projects. Once their on-site solar project has been completed, the portfolio will transition to a mix of California-based renewable electricity and on-site solar electricity.
About Dependable Supply Chain Services, Inc.
Dependable Supply Chain Services is a full-service logistics provider. Services include trucking (LTL/FTL/Harbor Drayage), warehousing & distribution, 3PL (third-party logistics), air freight forwarding, ocean freight forwarding, and freight transport to and from Hawaii & Guam. Established in 1950 with a single bobtail truck, the Company now has five unique integrated divisions that manage each of these services customized specifically for its clients' logistics requirements. These complementary divisions work together to create a seamless total supply chain solution.
About SRECTrade, Inc.
SRECTrade is an environmental commodity manager and technology solutions provider. The Company provides cloud-based services to the clean energy industry with an expertise in managing, transacting, and processing environmental incentives. SRECTrade's mission is to accelerate the adoption of clean energy and transportation by providing services and technology that minimize the time, cost, and risk associated with achieving benefits and compliance in the markets it serves.
SOURCE SRECTrade, Inc.