Chevron is taking full ownership of 55 compressed natural gas stations across the U.S. that will give it the ability to provide renewable natural gas fueling for Class 8 trucks, passenger cars, trucks, and vans.
Chevron U.S.A. Inc., a subsidiary of Chevron Corp., signed an agreement to acquire full ownership of Beyond6 LLC (B6) and its network of 55 CNG stations from Chevron’s current B6 co-owners — a subsidiary of Mercuria Energy Trading and B6 CEO Andrew West.
Through collaborations with Brightmark and California Bioenergy, Chevron is developing projects across the country to convert methane emissions from dairies to renewable natural gas, which can be considered carbon negative on a lifecycle basis under California’s Low Carbon Fuel Standard. With this acquisition, Chevron can market the RNG it produces or procures through a nationwide network of CNG locations.
“Chevron has seen strong demand for our RNG-to-CNG fuel offering from new and existing customers,” said Andy Walz, Chevron's president of Americas Products, in a news release. “Because of its carbon negative attribute and the ability of fleet operators to efficiently adapt vehicles to run on CNG, renewable natural gas can be a lower carbon solution for fleets seeking to reduce their lifecycle greenhouse gas emissions.”
For instance, earlier this year, Chevron and Walmart made a deal for Chevron to supply fuel linked to renewable natural gas for a Walmart demonstration of Cummins’ new 15L natural gas engine for heavy-duty trucks at Walmart’s distribution center in Fontana, California.
Mercuria and Chevron will enter into a long-term supply relationship to deliver renewable natural gas to Chevron as part of the transaction.
According to the B6 website, the fueling locations have between one and seven fast-fill fueling lanes.
The transaction is subject to customary closing conditions.
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