Westport (WPRT) in Green as Trillium CNG (TEG) Plans Nat-Gas Fueling Network
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Shares of Westport Innovations Inc. (Nasdaq: WPRT) traded higher on Thursday, gaining over 8%. Westport, a maker of natural gas engines, is not an unknown stock on Wall Street, but its shares have fallen out of favor recently, and its stock is lower by 14 percent in the past 12 months.
Today's rally follows news that Trillium CNG, part of Integrys Energy Group (NYSE: TEG), is expanding its compressed natural gas (CNG) fueling network with plans to build 101 public access Class 8 accessible CNG stations in 29 states by 2016.
Trillium's CNG station expansion plans include these states: Alabama (2), Arizona (2), Arkansas (2), California (3), Colorado (1), Florida (7), Georgia (4), Illinois (6), Indiana (5), Iowa (2), Kansas (1), Kentucky (4), Louisiana (3), Maryland (1), Michigan (2), Minnesota (5), Mississippi (1), Missouri (2), Nebraska (1), Nevada (1), New York (4), North Carolina (2), North Dakota (1), Ohio (8), Pennsylvania (6), South Carolina (2), Tennessee (4), Texas (14), Wisconsin ( 5). (The number in parenthesis represent the number of stations planned for each state)
Lower natural gas prices are also providing a tailwind for Westport Innovations Inc. This morning data showed a larger than expected build in nat-gas inventories. This sent gas prices lower by over 3 percent, making the fuel more attractive to companies seeking to convert their fleets to natural gas.
There are about 120,000 natural gas vehicles on U.S. roads today and interest in CNG fueling is growing, said Mary Boettcher, president of Trillium CNG.
"Natural gas is abundant, U.S. produced, burns cleaner and significantly less costly than diesel," said Mary Boettcher, president of Trillium CNG. "The expansion of our CNG fueling infrastructure will make compressed natural gas available to a greater number of fleets traveling busy commercial trucking routes. New stations will contribute to making natural gas the preferred fuel of choice in the U.S."
Today's rally follows news that Trillium CNG, part of Integrys Energy Group (NYSE: TEG), is expanding its compressed natural gas (CNG) fueling network with plans to build 101 public access Class 8 accessible CNG stations in 29 states by 2016.
Trillium's CNG station expansion plans include these states: Alabama (2), Arizona (2), Arkansas (2), California (3), Colorado (1), Florida (7), Georgia (4), Illinois (6), Indiana (5), Iowa (2), Kansas (1), Kentucky (4), Louisiana (3), Maryland (1), Michigan (2), Minnesota (5), Mississippi (1), Missouri (2), Nebraska (1), Nevada (1), New York (4), North Carolina (2), North Dakota (1), Ohio (8), Pennsylvania (6), South Carolina (2), Tennessee (4), Texas (14), Wisconsin ( 5). (The number in parenthesis represent the number of stations planned for each state)
Lower natural gas prices are also providing a tailwind for Westport Innovations Inc. This morning data showed a larger than expected build in nat-gas inventories. This sent gas prices lower by over 3 percent, making the fuel more attractive to companies seeking to convert their fleets to natural gas.
There are about 120,000 natural gas vehicles on U.S. roads today and interest in CNG fueling is growing, said Mary Boettcher, president of Trillium CNG.
"Natural gas is abundant, U.S. produced, burns cleaner and significantly less costly than diesel," said Mary Boettcher, president of Trillium CNG. "The expansion of our CNG fueling infrastructure will make compressed natural gas available to a greater number of fleets traveling busy commercial trucking routes. New stations will contribute to making natural gas the preferred fuel of choice in the U.S."
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