Chevron to acquire 55 CNG stations in the U.S.
Chevron is developing projects across the United States designed to convert fugitive methane emissions from dairies to a beneficial use as RNG.
Chevron U.S.A has signed a definitive agreement to acquire B6’s network of 55 compressed natural gas (CNG) stations across the United States. The acquisition of Beyond6 (B6) will allow Chevron to sell renewable natural gas through the network.
Chevron is complementing the strength of its traditional products business with new offerings that help customers support a lower carbon future, and renewable natural gas is an essential part of its portfolio of solutions. Through collaborations with Brightmark LLC and California Bioenergy LLC, Chevron is developing projects across the United States designed to convert fugitive methane emissions from dairies to a beneficial use as renewable natural gas.
"Chevron has seen strong demand for our RNG-to-CNG fuel offering from new and existing customers. 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,” said Andy Walz, Chevron's president of Americas Products.
Mercuria and Chevron will enter a long-term supply relationship to deliver renewable natural gas to Chevron as part of the transaction.
"B6 represents a best-in-class operator in the build-out of a renewable natural gas network, and Mercuria has been excited to help the company grow from a stand-alone business to one that can help drive growth under Chevron," said Brian A. Falik, Mercuria's chief investment officer.
