3M (NYSE: MMM) announces it has successfully completed the NGV2-2007 certification
process for its first compressed natural gas (CNG) tank. The 21.5 x 60
inch tank is designed for light- and medium-duty pick-up trucks and
corporate fleet vehicles. 3M’s tank capitalizes on improvements
in geometries and proprietary 3M™ Matrix Resin featuring nanosilica
technology to deliver a solution that is lighter, offers greater
capacity, and is more cost effective than similar tanks.
“We are enthusiastic about the future of natural gas vehicles and are
proud to introduce this tank to help companies take advantage of the
benefits of natural gas as a transportation fuel,” said Mike Roman, Vice
President of 3M’s Industrial Adhesive and Tapes Division, home to 3M’s
advanced composites business. “With a tank that will help provide more
range and more payload capacity at less expense, CNG vehicles are now an
even more attractive alternative for fleet and individual retail
customers alike.”
The tank will be showcased at the NTEA Work Truck Show, March 6-8 in
Indianapolis, Ind. 3M will be located at Booth #5658 at the Indiana
Convention Center, in the event’s “Green Pavilion.”
Initially, tanks will be available through five approved upfitters with
whom 3M is collaborating. These companies include OEM Systems of
Okarche, Okla.; Venchurs Vehicle Systems of Adrian, Mich.; Alternative
Fuel Solutions of Mahaffey, Penn.; AVS of Salt Lake City, Utah; and
World CNG of Kent, Wash.
The successful certification follows the 2012 announcement by 3M and
Chesapeake Energy Corporation (NYSE:CHK) that the two would collaborate
in designing, manufacturing and marketing a broad portfolio of CNG tanks
for use in all sectors of the United States transportation market. 3M
expects to announce certification of other geometries in the coming
months. Chesapeake is slated to become one of the first end users of the
new 21.5 x 60 inch tank, which it will incorporate in its fleet
vehicles. Chesapeake is currently converting its fleet of nearly 5,000
vehicles to run on natural gas.
“The fuel tank has been the most expensive single component on a CNG
vehicle, causing a bottleneck for the market,” said Nathan Pumphrey,
Chesapeake Director – Fleet Operations. “3M’s tank portfolio will lower
the total cost of natural gas vehicle ownership and speed market
adoption. We look forward to incorporating these tanks into our fleet
vehicles to save money on our conversions; and with CNG available for as
little as $0.99 per gasoline gallon equivalent in some markets, we’ll
cut our fueling costs, too.”
In line with a broader commitment to CNG, 3M has also begun working with
its transportation providers to utilize CNG on trucks carrying 3M
products. 3M has already implemented a pilot program with Dart Transit
Company on dedicated routes, and anticipates others will follow. Because
fueling with CNG reduces greenhouse gas emissions and particulate
matter, the move to natural gas-powered vehicles continues 3M’s
commitment to sustainability.
For more information, visit 3m.com/cng or call 1-800-364-3577.
About 3M
3M captures the spark of new ideas and transforms
them into thousands of ingenious products. Our culture of creative
collaboration inspires a never-ending stream of powerful technologies
that make life better. 3M is the innovation company that never stops
inventing. With $30 billion in sales, 3M employs about 88,000 people
worldwide and has operations in more than 70 countries. For more
information, visit www.3M.com
or follow @3MNews
on Twitter.
3M is a trademark of 3M Company.
About Chesapeake Energy Corporation
Chesapeake Energy
Corporation (NYSE:CHK) is the second-largest producer of natural gas, a
Top 15 producer of oil and natural gas liquids and the most active
driller of new wells in the U.S. Headquartered in Oklahoma City, the
company's operations are focused on discovering and developing
unconventional natural gas and oil fields onshore in the U.S. Chesapeake
owns leading positions in the Eagle Ford, Utica, Granite Wash,
Cleveland, Tonkawa, Mississippi Lime and Niobrara unconventional liquids
plays and in the Marcellus, Haynesville/Bossier and Barnett
unconventional natural gas shale plays. The company also owns
substantial marketing and oilfield services businesses through its
subsidiaries Chesapeake Energy Marketing, Inc. and Chesapeake Oilfield
Operating, L.L.C. Further information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.
