UPS (NYSE: UPS) today announced plans to purchase more than 6,000 natural gas-powered trucks beginning in 2020 and running through 2022. This three-year commitment represents a $450M investment in expanding the company’s alternative fuel and advanced technology vehicle fleet as well as supporting infrastructure.
The new vehicles will be equipped with compressed natural gas (CNG) fuel systems provided under an exclusive agreement with Agility Fuel Solutions, a business of Hexagon Composites. The investment in CNG fuel systems expands UPS’s relationship with Agility Fuel Solutions and supports UPS’s fleet sustainability efforts. It will help reduce UPS’s carbon footprint and is expected to have a positive influence on national CNG market growth. The CNG fleet expansion also provides additional capacity for expanding the use of renewable natural gas (RNG).
By Global Newswire