All:
I found this;
ompany Press Release
PennWilson CNG Ships Largest Transit Bus Stations to
New York City in Record Time
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Oct. 10, 1997--PennWilson CNG Inc. a
subsidiary of Penn Octane Corp. (NASDAQ:POCC), shipped two large, high technology
compressed natural gas (CNG) refueling stations, each capable of delivering over 600 diesel
equivalent gallons per hour, from its Santa Fe Springs, Calif. headquarters to New York City on
October 8, after completing construction in record time.
''We believe the customer, New York City Department of Transportation, should be very pleased
that these stations are being delivered in 19 weeks instead of our normal 30 week process, as they
requested,'' said John Weber, president and chief operating officer of PennWilson CNG. These
stations were awarded to PennWilson over other CNG contractors, he said.
PennWilson CNG is a national leader in the design and production of high technology refueling
stations for compressed natural gas vehicle applications such as transit buses. The stations shipped
to New York City incorporate new advances in station design such as new integrated
Programmable Logic Control systems and new Sound Barrier(TM) noise abatement technology,
Weber observed.
These stations will provide the customer with more operational data, safety features and flexibility of
control than any other CNG refueling station produced to date. Further, the stations are extremely
quiet and particularly well suited for municipal settings.
''The shipment of these stations to New York indicates PennWilson's leading edge capability in the
new CNG market and positions PennWilson to take advantage of the growing U.S. and international
opportunities for this technology,'' said Jerry Richter, chairman of Penn Octane Corp.
Currently one of five transit buses manufactured in the U.S. runs on CNG. Many international sites,
such as Mexico City, have passed legislation favoring CNG operated fleets over existing
diesel-powered vehicles. PennWilson CNG expects to operate up to 30 CNG refueling stations in
Mexico City over the next several years.
According to Weber, ''Bus and engine manufacturers have developed excellent buses and engines
that operate on CNG, and transit operators currently utilizing CNG vehicles indicate they save
approximately $0.20 per mile in fuel and maintenance costs over diesel vehicles.''
PennWilson CNG Inc. is a wholly owned subsidiary of Penn Octane Corp. and a leader in CNG
refueling station design and manufacturing. PennWilson may be reached at 562/929-6789.
Penn Octane is a leading supplier of LPG to Mexico and propylene to the petrochemical industry in
Texas. Penn operates a 132-mile, six-inch pipeline from a pipeline in Kleberg County, Texas to its
terminal in Brownsville, Texas, which acts as a trans-shipment point for delivery to Mexico
Certain of the statements contained in this news release are forward-looking statements. While these
statements reflect the company's beliefs, they are subject to uncertainties and risks that could cause
actual results to differ materially.
Contact:
Penn Octane Corp.
Jerry Richter, 650/368-1501 |
