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Corporate October
24, 2000 |
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Honda Purchases Interest in FuelMaker, Manufacturer of Natural Gas Refueling Systems
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Torrance, Calif., Oct. 24 -- American Honda Motor Co., Inc., which markets the Civic
GX natural gas vehicle, has purchased a 20 percent interest in FuelMaker Corporation,
a privately held Toronto-based company and the leading manufacturer of natural gas
vehicle refueling appliances, the companies announced today.
In addition, Honda R&D Americas, Inc., will provide market research information
to assist FuelMaker's efforts in developing an inexpensive, advanced technology,
home refueling appliance for natural gas vehicles. This new product will
allow natural gas powered vehicles to be conveniently refueled from a homeowner's
natural gas line, in addition to refueling at public stations.
"Natural gas offers many advantages and opportunities as an alternative to gasoline,"
said Tom Elliott, American Honda executive vice president. "Substantial supplies
of natural gas exist in North America and there are significant environmental
benefits. The biggest challenge the industry faces is developing an infrastructure
that provides customers with improved access. "
Currently, natural gas powered vehicles are primarily purchased by corporate
and government fleets, which buy alternative fuel vehicles to meet Energy
Policy Act goals. These organizations typically maintain their own refueling
facilities.
Honda has been selling the natural gas powered Civic GX since 1997. The EPA has
referred to the GX as being the "cleanest internal combustion engine vehicle in
the world." The Civic GX also has earned a Super Ultra Low Emission Vehicle (SULEV)
rating and produces almost zero emissions. The new 2001 Civic GX offers increased
range, fuel economy and greater interior and trunk space. It is equipped with
a continuously variable transmission (CVT) for responsive performance and fuel
efficiency.
"Advanced technology vehicles like the CNG Civic GX face the 'chicken and
egg' infrastructure challenge," Elliott said. "Without more vehicles on
the road, the infrastructure won't grow. But without an expanded infrastructure,
vehicle demand remains limited."
"Our research and marketing experience
with the Civic GX indicates consumers like the idea of being able to refuel their
vehicle at home," Elliott said. "As natural gas lines already supply most homes
and businesses, the availability of an affordable home refueling system will expand
the potential for alternative fuel vehicles."
Recognized as a leader in environmental technology, Honda has been at the forefront
of enhancing fuel economy, lowering emissions and developing alternative fuel
vehicles. Honda was the first automaker to sell gasoline-powered vehicles meeting
California's stringent emission standards for Low Emission Vehicles (LEV) in 1995,
Ultra Low Emission Vehicles (ULEV) in 1997, and Super ULEVs (SULEV) in 2000. The
Honda Insight was also the first gasoline-electric hybrid available in America
when it went on sale in December, 1999. About 88 percent of all 2001 Honda vehicles
are LEV rated or better.
American Honda, the U.S. sales and marketing subsidiary of Honda Motor Co.,
Ltd., was founded in 1959. Honda currently produces automobiles, motorcycles,
all-terrain vehicles, lawn mowers and engines at its U.S. manufacturing
operations using domestic and globally sourced parts. Honda also maintains
R&D centers in California, Ohio and North Carolina that design and develop
many of the products sold in America.
FuelMaker Corporation is an environmental technology company providing infrastructure
solutions for both the natural gas and hydrogen/fuel cell fueling industries.
Development of FuelMaker's core technology, supported by 94 patents, began in
1989. Since then, FuelMaker has built a base business to satisfy the gaseous fueling
needs of industrial and consumer markets. The combination of extensive R&D, a
manufacturing and quality focus, and 8,000 FuelMaker Vehicle Refueling Appliances
(VRAs) in operation for both natural gas and hydrogen, has resulted in technology
and a product line that is recognized around the world as extremely reliable and
state of the art. (A VRA is a self-contained system that compresses natural gas
or hydrogen and delivers it to the vehicle.)
FuelMaker was voted "Best Natural Gas Vehicle (NGV) Company" in a North
American industry poll two years running (1998 and 1999). Its 3,600 psi
VRA was also voted "Best New Product" in 1998. |
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