Constellation, a subsidiary of Exelon Corp., has purchased seven compressed natural gas (CNG) fueling stations in Indiana and Ohio from CNG Fuel Inc.
The acquisition marks Constellation's expansion into the CNG market and is part of the company's growth strategy to diversify its portfolio of retail energy products and services.
‘Our customers and business partners see CNG and electric vehicle charging as key opportunities to address their long-term sustainability and cost-management objectives,’ explains Gary Fromer, Constellation's senior vice president of distributed energy.
‘The addition of CNG to Constellation's retail offerings will help our customers accelerate fleet conversions while allowing Constellation to address their CNG infrastructure and gas supply management requirements.”
Constellation will own and operate the seven stations as public/private-access fueling sites for regional and interstate transportation fleets. Six of the facilities are located in Indianapolis, Lafayette, Greensburg and Seymour, Ind., and Dayton and Findlay, Ohio, with an additional fueling station currently under development in Fort Wayne, Ind.
As a large U.S. natural gas marketer, Constellation delivers more than 2 trillion cubic feet of gas annually to homes, businesses, regulated utilities and municipal co-ops. In 2014, the company deepened its retail natural gas supply footprint in Indiana and Ohio through the acquisitions of ETC ProLiance Energy and Integrys Energy Services.