Yellow Light for Green Gas
Blu LNG and Clean Energy, two of the largest developers of natural gas fueling stations, have cut back on expansion efforts.
Blu LNG has laid off 20 percent of its staff, ousted several senior executives and slowed development of fueling stations. The company has a network of about 25 locations, with plans to grow to 40 to 50 by the end of the year, far less than it originally planned. It has cut its number of employees by 40 to 170.
Competitor Clean Energy Fuels is also slowing development of its network, reportedly altering plans to open one station every week-and-a-half to one every two weeks.
The reason? “To let the trucks catch up on us,” said Blu LNG CEO Merritt Norton, as development of the LNG networks has outpaced sales of LNG-powered trucks.
