American Natural Gas Acquires Questar Fueling Company and its Eleven Compressed Natural Gas Fueling Stations
Saratoga Springs, New York (PRWEB) December 20, 2016 -- American Natural Gas (ANG), a premier distributor of alternative motor fuels, and a portfolio company within HC2 Holdings (NYSE MKT: HCHC), announced today that it has acquired Questar Fueling Company (“Questar Fueling”), a subsidiary of Questar Corporation, including its [11] compressed natural gas (CNG) fueling stations in Arizona, Kansas, Texas, Utah, California, and Colorado. Financial terms were not disclosed.
As a result of the acquisition, which closed on December 16, 2016, ANG now owns and operates the following 11 high-speed, high-volume Questar Fueling CNG stations:
• 1001 South 65th Ave., Phoenix, AZ 85043
• 5625 Southwest Wenger St., Topeka, KS 66609
• 6580 Kansas Ave., Kansas City, KS 66111
• 650 East Centre Park Blvd., De Soto, TX 75115
• 4200 Duncanville Rd., Dallas, TX 75236
• 5800 Mesa Drive, Houston, TX 77028
• 5348 East Houston St., San Antonio, TX 78220
• 5260 West 2400 South, West Valley City, UT 84120
• 35750 Highway 58, Buttonwillow, CA 93206
• 10405 East 40th Ave., Denver, CO 80239
• 14512 Aliso Drive, Fontana, CA 92337 (under construction)
As a result of this acquisition and that of Constellation CNG, LLC on December 20, ANG now owns and operates approximately 40 fueling stations in 13 states across the United States, inclusive of stations in process and under development, up from only two stations at the time of HC2’s initial investment in ANG in August 2014
“Our customer’s needs are driving our expansion,” said Drew West, Chief Executive Officer of ANG. “With a national footprint, ANG is situated better than ever to support fleets in broader, more extensive adoptions of CNG. With energy prices on the rise and sustainability efforts growing more critical, there has never been a more important time to invest in alternative fuels.”
Mr. West continued, “Today is a milestone for ANG as we become a truly national company. Our passion for growth results from our belief that CNG can make a serious difference for fleets in all corners of America.”
Anchor tenants of the newly acquired stations include some of the nation’s largest fleets such as Anheuser-Busch, Frito-Lay, Swift Transportation, Central Freight Lines, and many others. The [11] stations are designed for medium and heavy-duty vehicles, but are also open to other fleets and members of the general public who drive natural gas-powered vehicles. Each station has between four and seven fueling lanes and either three or four compressors, guaranteeing consistent capacity and fuel pressure.
Through the transaction, ANG also acquired a new state-of-the-art mobile fueling station. The powerful, self-contained system can be mounted to a trailer and transported wherever a client needs for temporary fueling or backup redundancy.
Service at all stations will continue uninterrupted throughout the ownership transition. ANG will oversee operations with state-of-the-art 24-hour monitoring platforms and an expert “on-call” maintenance team.
Natural gas is the cleanest burning alternative fuel available that has the power to run heavy-duty vehicles. It is also quieter, safer, less expensive and abundant in America. Vehicles that run on natural gas generally emit 13 to 21 percent fewer greenhouse gas emissions than vehicles that run on gasoline.
Those looking to learn more about ANG are encouraged to visit its website, http://www.americannaturalgas.com, or call 866-264-6220 with questions.
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About American Natural Gas, LLC
At American Natural Gas (ANG) the future is within reach and we can bring you closer. Through our growing network of Compressed Natural Gas (CNG) stations for the transportation industry, we’re delivering opportunity to fleets across the country. Our team of highly-trained strategists, designers and operations professionals is changing perspectives and increasing potential as we improve the CNG experience and move the alternative fuel industry forward. ANG is a portfolio company within HC2 Holdings, Inc. (NYSE MKT: HCHC). To learn more, visit http://www.americannaturalgas.com.
Cautionary Statement Regarding Forward-Looking Statements
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements. Generally, forward-looking statements include information describing actions, events, results, strategies and expectations and are generally identifiable by use of the words "believes," "expects," "intends," "anticipates," "plans," "seeks," "estimates," "projects," "may," "will," "could," "might," or "continues" or similar expressions. The forward-looking statements in this press release include without limitation statements regarding the beliefs and assumptions of ANG's management. The Company believes these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and the Company's actual results could differ materially from those expressed or implied in the forward-looking statements due to a variety of important factors, both positive and negative. Such important factors include, without limitation, issues related to our ability to realize efficiencies, cost savings, income and margin improvements, growth, economies of scale and other anticipated benefits of strategic transactions; and difficulties related to the integration of financial reporting of acquired or target businesses; effects of litigation, indemnification claims, and other contingent liabilities.
Julia Ingersoll, Allegory Studios, http://www.allegorystudios.com, +1 (518) 580-1987 Ext: 102, [email protected]
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