GE Capital's Canadian arm and Gaz Metro Transport Solutions (GMTS), a subsidiary of Gaz Metro, have inked a strategic agreement aimed at accelerating the trucking industry's adoption of natural gas as a fuel in Eastern Canada.
Under the partnership, fleet operators will work with GMTS for natural gas supply and purchase, as well as with GE Capital to secure loans or leases for natural gas vehicles (NGVs). NGVs that are eligible under this agreement use either compressed or liquefied natural gas.
“As someone with nearly a decade of experience in the transportation industry, I understand how critical it is for fleet operators to reduce their fuel costs. To remain competitive, they need to cut three to five percent annually just to keep up with the market,” says Veronique Hache, strategic initiative leader for NGVs at GE Capital. “Transitioning to natural gas is a smart way to diversify their fuel portfolios and reduce those costs. Through this agreement, we're giving trucking company leaders the financial motivation to make the shift from diesel to nat-gas.”
‘This agreement reinforces GMTS' turnkey approach by adding a financial partner to accompany the fleet operators in their transition to natural gas,’ adds Luc Genier, president of the board of directors of GMTS. ‘We are confident that combining our respective expertise will have a positive effect on the adoption of natural gas as a fuel for the trucking industry in Eastern Canada.’
Notably, GE Capital also recently entered a separate partnership with Shell Canada Products focused on promoting liquefied natural gas for fleets in Canada.