GE Capital, Canada and Gaz Métro Transport Solutions (GMTS), a subsidiary of Gaz Métro, have joined forces to facilitate the trucking industry’s adoption of natural gas as a fuel in Eastern Canada.
Under the agreement, fleet operators will work with GMTS for natural gas supply and purchase and, separately, secure loans or leases for natural gas vehicles (NGVs) with GE Capital. NGVs that use either compressed natural gas (CNG) or liquefied natural gas (LNG) are eligible under the agreement.
In 2011, GMTS introduced and launched the first LNG fueling stations network in Canada.
Last month, GE Capital signed a commercial agreement with Shell Canada Products to reduce monthly payments for truck fleets that lease NGVs.
Fuel is one of the highest costs in the trucking industry, amounting to as much as 40 percent of a trucking company’s expenses. Natural gas can cost up to 30 percent less than diesel.
Photo: truck at sunset via Shutterstock.