We are pleased to announce this week that NG Advantage has secured contracts from two major corporations to begin the delivery of compressed natural gas by truck in early 2013. This is a major milestone for our company as we work towards beginning service early next year.
We are thrilled to have Putney Paper and Pike Industries on board. These companies are an important part of the regional economy and natural gas will provide essential savings to keep them competitive into the future.
The multi-year contracts allow these companies to realize both the economic and environmental benefits of lower cost, clean, North American natural gas even though they are not located on a natural gas pipeline. We believe this is the first announcement of contracts for natural gas delivered beyond the pipeline in the United States.
We are honored to have Vermont Governor Peter Shumlin's support. As you may know, Gov. Shumlin has championed the use of natural gas for its significant economic and environmental benefits. Access to domestic natural gas is an important component of the Vermont Comprehensive Energy Plan released late last year.
Governor Shumlin offered the following words of encouragement:
"I congratulate these groundbreaking Vermont employers on making the switch to compressed natural gas so they can lower their energy bills and grow more jobs," said Governor Shumlin. "NG Advantage's first-of-its-kind business will lead the nation as we work to reduce our dependence on foreign oil and lower carbon emissions."
Both Putney Paper and Pike Industries will displace oil by converting to cleaner, North American natural gas. Together, their conversions will eliminate more than 10 million pounds of carbon dioxide and 365,000 pounds of sulfur dioxide from the atmosphere annually.
Oil and propane cost and price volatility as well as the possibility of supply disruption are growing concerns to area employers. NG Advantage offers northern New England and upstate New York businesses a more affordable and stable alternative.