Will Showcase a Heavy-Duty Natural Gas Vehicle At “NGVs Take the
Hill” Event In Washington, D.C.
MIAMI--(BUSINESS WIRE)--
Ryder
System, Inc. (NYSE: R), a leader in commercial transportation and
supply chain management solutions, today announced that it will
participate in the “NGVs
Take the Hill” public display event on Wednesday, April 13, 2011, a
few blocks from the Capitol building in Washington, D.C. The event,
sponsored by NGVAmerica,
will showcase educational exhibits and a display of heavy-duty trucks
and other vehicles powered by natural gas.
The purpose of the event is to educate the public, media, and policy-
and decision-makers about the use of natural gas as a clean, domestic
and abundant transportation fuel that is a viable and available
alternative to foreign oil. Demonstrating the Company’s commitment to
and leadership in the natural gas heavy-duty truck market, Ryder will
exhibit a vehicle from its heavy-duty natural
gas fleet offering at the event.
“Providing leadership to promote the use of natural gas in heavy-duty
commercial fleets is a key initiative for Ryder,” stated Robert Sanchez,
President, Global Fleet Management Solutions for Ryder. “Participation
in this event underscores our commitment to bringing cost-effective,
environmentally-sound commercial transportation solutions to market that
help businesses reduce both fleet fuel costs and emissions.”
Ryder has ordered 202 heavy-duty natural gas trucks as part of an
agreement with the San
Bernardino Associated Governments (SANBAG). The heavy-duty natural
gas truck rental and leasing project in Southern California is a $38.7
million project funded as part of a joint public/private industry
partnership between the U.S. Department of Energy, the California Energy
Commission, and Ryder. The project is expected to displace an estimated
1.5 million gallons of diesel fuel with 100 percent domestically
produced natural gas. Ryder will begin taking delivery of the trucks in
April and expects to integrate the full order into its fleet by
September. Ryder has also begun work to upgrade the first of three
existing maintenance facilities in its network to be properly equipped
for the indoor servicing of natural gas vehicles and will soon commence
construction of two natural gas fueling stations.
In addition to reducing emissions, businesses that incorporate natural
gas vehicles into their fleets can realize additional cost savings
because natural gas fuel prices are lower than diesel fuel prices, which
are currently on the rise. According to the U.S. Energy Information
Administration Annual Energy Outlook 2010, natural gas costs as much as
42 percent less per equivalent gallon of diesel today, and with oil
prices rising at a significantly faster rate than U.S. natural gas
prices, the gap is projected to widen to 50 percent or more in the
future, enabling customers to dramatically reduce total fuel expenses.
Natural gas also runs cleaner than diesel – ultra-low-emission natural
gas vehicles can reduce total well-to-wheel CO2 emissions by
as much as 25 percent. Natural gas is a domestic, U.S. energy source
that provides a cost-effective alternative to foreign oil and a pathway
toward energy independence.
About NGVs Take the Hill
The “NGVs Take the Hill” event, sponsored by NGVAmerica, is intended to
raise visibility around natural gas as a viable alternative to diesel
and other fossil fuels. The event, which will run from 8:00 a.m. to
12:00 p.m. Eastern on April 13, 2011 will feature both natural gas
vehicles and educational booths, as well as an appearance by T. Boone
Pickens, in an open air exhibit located a few blocks from the Capitol
building (300 block of Maryland Avenue, SW, between 3rd
Street and Independence Avenue).
About Ryder
Ryder is a FORTUNE 500® commercial transportation, logistics and supply
chain management solutions company. Ryder’s stock (NYSE:R) is a
component of the Dow Jones Transportation Average and the Standard &
Poor’s 500 Index. Inbound Logistics magazine has recognized Ryder
as the top third party logistics provider and included Ryder in its 2010
“50 Green Partners” listing. Ryder also ranked 114 out of the top 500
U.S. companies and sixth in its industry sector in the 2010 Newsweek
Green Rankings. Security Magazine has named Ryder one of the top
companies for security practices in the transportation, logistics,
supply chain, and warehousing sector. Ryder is a proud member of the
American Red Cross Annual Disaster Giving Program, supporting national
and local disaster preparedness and response efforts. For more
information on Ryder System, Inc., visit www.ryder.com.
Note Regarding Forward-Looking Statements: Certain statements and
information included in this news release are "forward-looking
statements" within the meaning of the Federal Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on our current plans and expectations and are subject to risks,
uncertainties and assumptions. Accordingly, these forward-looking
statements should be evaluated with consideration given to the many
risks and uncertainties that could cause actual results and events to
differ materially from those in the forward-looking statements including
those risks set forth in our periodic filings with the Securities and
Exchange Commission. New risks emerge from time to time. It is not
possible for management to predict all such risk factors or to assess
the impact of such risks on our business. Accordingly, we undertake no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, or otherwise.
Acknowledgment: This material is based upon work supported by the
Department of Energy under Award Number DE-EE0002173.
Disclaimer: This was prepared as an account of work sponsored by an
agency of the United States Government. Neither the United States
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CEC Disclaimer:
LEGAL NOTICE: This document was prepared as a result of work sponsored
by the California Energy Commission. It does not necessarily represent
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Source: Ryder System, Inc.