GE Capital has annoucned it is financing ready-mix concrete firm Ozinga Bros.' purchase of concrete trucks, loaders and other equipment powered by compressed natural gas (CNG). The financing will also be used to purchase GE's CNG In A Box fueling stations.
Mokena, Ill.-based Ozinga began testing CNG-powered concrete mixer trucks in 2011 with a goal of reducing its reliance on foreign petroleum and diminishing its carbon footprint. Ozinga later pledged to switch its fleet of approximately 500 concrete mixer trucks to CNG by 2020.
‘Once we began operating CNG trucks, we quickly realized the value of adding natural gas fuel to our operations because it's abundant and affordable,” says Marty Ozinga IV, president of the company. “This is one more step on the path to achieving energy independence and expanding the use of alternative energy in the Chicago area.”
A GE Capital customer since 1990, Ozinga will use the majority of the funds to purchase CNG-powered trucks along with other necessary equipment. The company also plans to install four CNG In A Box systems, which are plug-and-play on-site CNG fueling stations developed by GE Oil & Gas in collaboration with Chesapeake Energy Corp.
“We're very pleased to help Ozinga accelerate the adoption of natural-gas-powered commercial vehicles,” says GE Capital's Eric Dusch. “This transaction brings together innovative solutions from GE Oil & Gas and GE Capital to help an American business grow and expand.”