GE Capital, Shell to aid trucking industry’s shift to natural gas

May 29, 2015
GE Capital, Canada announced the signing of a commercial agreement with Shell Canada Products (Shell) with a view to facilitate the trucking industry’s adoption in Canada of liquefied natural gas (LNG).Under this agreement, GE Capital and Shell will work together to reduce monthly payments for truck fleets that lease natural gas vehicles (NGVs), the companies said. Specifically, fleets owners can sign natural gas fueling contracts with Shell and, separately, secure leases for LNG vehicles with GE Capital. The agreement covers equipment that will purchase fuel from Shell’s facilities.GE Capital has been providing wholesale and retail financing to the country’s commercial trucking sector for 35 years. “Through this agreement, we’re giving over-the-road trucking companies the financial incentive to make the shift from diesel to natural gas,” said François Nantel, leader of GE Capital. “Working with Shell will help address truck operators’ concerns regarding the trucks’ value and incremental capital investments and allow them to access the benefits of LNG vehicles from day one.”In general, LNG is used for vehicles that undertake long hauls, while compressed natural gas (CNG) is used for those that undertake shorter hauls, the companies said.

Sponsored Recommendations

Heavy-Duty Maintenance Checklist

A maintenance checklist can help ensure you hit everything necessary during an inspection. Check out our free downloadable checklist to help streamline your repairs.

Five Ways a Little Data Can Save Your Company Millions

While most trucking and logistics companies rely on cellular to keep their work fleet connected, satellite has the ability to connect anywhere and through small data transmission...

Fleet Case Study: 15% YOY Growth for ITDS

Learn how this small trucking company scaled significantly and maintained outstanding customer service without adding additional people. Sylectus TMS can automate operations and...

Unlocking Fleet Safety & Efficiency: The Managed Service Advantage

Want to boost your fleet's safety and efficiency? Tune in now to discover the power of Managed Services in optimizing your safety program, streamlining operations, and making ...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!