X3CNG Corp., a subsidiary of X3Energy Group from Italy, recently finalized its acquisition of two SkyBlu compressed natural gas (CNG) fueling stations, which are located in Firestone and Greeley, Colo.
According to the company, one CNG station is located at the Shell/7-11 at 11099 E I-25 Frontage Rd., Exit 240, in Firestone, and the other station is located at Cenex at 1607 2nd Ave., off of Highway 85 in Greeley. The stations accept standard credit cards, such as Visa, MasterCard and American Express, in addition to fleet cards, such as Wright Express.
X3CNG says it will own and operate the public fueling sites for local government, commercial and public customers.
“The expansion into the U.S. market is consistent with our mission to grow in a dynamic market,” said X3Energy Group CEO Giovani Baroni. “Our decision to enter this market leverages on the company’s core expertise as a leading supplier of natural gas and CNG stations developer/operator in Italy. These stations serve as an anchor to our planned growth plans in the U.S.”
The U.S. Department of Energy estimates that there are 150,000 natural gas vehicles on the road today, and that number is expected to grow, driven by long-term low price volatility in natural gas, corporate sustainability initiatives and potential additional incentives.
James Mora, director of business development for X3CNG Corp., said, “The CNG market represents a tremendous opportunity in the U.S., as it addresses long-term sustainability goals and cost-reduction objectives for fleets. We are working with industry partners to develop an expanded network.”