Integrys Energy Group Inc.
’s (TEG - Analyst Report
) operating unit, Trillium CNG, announced that it will construct a high-volume, fast-fill compressed natural gas (CNG) public access station in Kirkwood N.Y.
The station equipped with the latest patented HY-C technology will be built to meet the refueling requirements of the local foodservice supplier, Willow Run Foods Inc., and other truck fleet. The patented hydraulic intensifier comes with faster refueling capabilities. The station will initially have two dispensers with an option for expansion as CNG demand rises.
Integrys Energy will construct the station about 1 mile from Willow Run Foods' headquarters and the distribution center near the Interstate 81. Willow Run Foods will be the first company in northeast U.S. to utilize CNG fueled trucks.
Integrys Energy is focused on popularizing CNG. A few days back, the company launched its second compressed natural gas CNG station at Brown County, Wis. Its specialization in developing CNG fuel for heavy-duty truck is fast spreading across the U.S. and has already attracted some companies.
These include Texas-based Waste Connections Inc.
(WCN - Snapshot Report
) and Golden Eagle Distributors. Integrys Energy is collaborating with these firms to bring CNG services to the market. The shale revolution in the U.S. explains Integrys Energy’s current CNG expansion drive.
As a transportation fuel, natural gas has captured a moderate share in the market. However, its cost-effective and clean burning nature will ultimately take precedence over the use of the more popular diesel.
Integrys Energy intends to popularize the eco-friendly benefits of natural gas in the coming years through these projects. Gas consumption in the U.S. transportation sector will gradually pick up, thereby boosting the company’s prospects in the long run.
Integrys Energy at the moment holds a Zacks Rank #2 (Buy). Other utility counterparts well positioned at present are Zacks Ranked #2 IdaCorp Inc.
(IDA - Snapshot Report
) and PNM Resources Inc.
(PNM - Snapshot Report