NEWARK, N.J.--(BUSINESS WIRE)--IDT Energy, Inc., one of the largest retail energy providers in the Northeast, today announced plans to enter the Natural Gas Vehicle (NGV) industry with the launch of its newly created entity, Evergreen Fleet Services. Evergreen Fleet Services will offer a suite of services to help fleet owners reduce operating costs and emissions. The effort will leverage the abundant supply of natural gas and IDT Energy’s tenured expertise in managing the commodity in the retail sector.
Through a partnership with Clean Vehicle Solutions, LLC (CVS), Evergreen Fleet Services will offer fleet owners, operators and managers a comprehensive toolkit of various CNG related services and efficiency enhancing products.
“I am excited to announce IDT Energy’s entry into the Natural Gas Vehicle industry. Evergreen Fleet Services, through our partnership with CVS, will leverage IDT Energy’s natural gas commodity expertise and in-market experience in the retail sector to help provide world class CNG-based solutions for fleet owners in the Northeast,” said Geoff Rochwarger, IDT Energy’s CEO. “We initially intend to take full advantage of IDT Energy’s regional base of operations, network for supply of the commodity and other relationships and infrastructure, and then gradually expand our geographic footprint and scope of offerings.”
Evergreen Fleet Services has signed a joint sales and marketing agreement with CVS. CVS is a full service, end-to-end CNG solutions provider supporting fleet operations with extensive CNG-based consultative, financial, production, maintenance and training services. CVS also operates one of the largest CNG vehicle conversion production facilities in the United States, and has converted both gasoline and diesel vehicles from class 2 to class 8.
“The Evergreen Fleet Services partnership brings significant value to our business,” said Dean Sloane, Chief Executive Officer of CVS. “IDT Energy’s natural gas commodity procurement and related industry expertise will help to further grow our business, bringing new customers and adding value to our offerings,” added Sloane.
“Natural gas provides powerful benefits compared to traditional liquid transportation fuels,” Rochwarger added. “Switching to natural gas can reduce fleet fuel costs by approximately 28% compared to diesel and 35% compared to unleaded gasoline at today’s prices, while significantly reducing greenhouse emissions. Evergreen Fleet Services will help fleet owners, operators and managers to capitalize on the extraordinary advantages of CNG.”
About IDT Energy, Inc.:
IDT Energy is one of the largest Retail Energy Providers (REP) supplying natural gas and electricity to residential and small business customers in the Northeastern United States. IDT Energy is a subsidiary of Genie Energy Ltd (NYSE: GNE). For more information, visit www.idtenergy.com or Like us on Facebook at www.facebook.com/IDT.Energy.
About Evergreen Fleet Services:
Evergreen Fleet Services leverages its established expertise in commodities management and retail energy supply to bring an offering of CNG-related services to market that provide fleet operators a cleaner and cheaper alternative to liquid transportation fuels.
About Clean Vehicle Solutions, LLC:
A leader in the compressed natural gas (CNG) vehicle industry, Clean Vehicle Solutions is a full service, end-to-end CNG solutions provider supporting fleet operations with extensive production, maintenance & training services coupled with fueling infrastructure development, financing, and maintenance. This end to end solution is the first of its kind in the United States designed to support the development and effective operation of an alternatively fueled fleet. For more information, go to www.cleanvehiclesolutions.com or email info@cleanvehiclesolutions.com.
