FOR IMMEDIATE RELEASE
CHESTER, New Jersey, May 11, 2017 – Bob Bonelli, Chief Executive Officer, Adsorbed Natural Gas Products, Inc. (ANGP), introduced ANGP’s PHANGV™ concept to attendees at the American Gas Association (AGA) Operations Conference & Biennial Exhibition at the Gaylord Palms in Orlando, Florida, last Thursday, stating, “The ANGP bi-fuel hybrid adsorbed natural gas (ANG) vehicle, our PHANGV™ concept for light duty vehicles (LDVs), enables a privately fueled environmentally friendly natural gas alternative to electric vehicles.”
He added, “Low-pressure changes everything for this market, particularly the cost and operational durability of private fueling appliances.”
Citing U.S. Department of Transportation (DOT) and U.S. Energy Information Administration (EIA) data, Bonelli explained the average LDV (pick-up trucks, vans and passenger cars) travels approximately 13,500 miles per year, consuming 527 gallons of gasoline. The data also indicate75 percent of all annual miles driven are associated with an individual’s daily commute of 70 miles (or less) round trip.
“One PHANGV™ refueling at home and running on natural gas for an individual’s daily work-related commute would consume 395 GGEs of natural gas, thereby increasing the demand for natural gas at that single residential meter by 77 percent,” said Bonelli. “This is a welcome statistic for natural gas distribution professionals.”
ANGP, recipient of the 2016 Frost & Sullivan New Product Innovation Award for Gas Storage for Natural Gas Vehicles, leads a coalition of major companies comprising Ingevity Corporation (NYSE: NGVT); United Technologies Research Center, the innovation engine of United Technologies Corp. (NYES: UTX); and A. Schulman, Inc. (NASDAQ: SHLM). Together, they are commercializing the world’s first on-board low-pressure ANG storage technology for natural gas-powered vehicles and are on schedule to release an NGV2 compliant Type 4 conformable ANG storage system later this year.
“Our coalition of global corporate leaders is determined to enable clean burning natural gas to become a primary source power for LDVs in the United States and other regions of the world where natural gas is piped broadly to privately owned homes and businesses,” said Bonelli. “The PHANGV™ will allow vehicle buyers to maintain loyalty to their favorite drivetrain while significantly reducing greenhouse gases with every mile driven.”
Adsorbed Natural Gas Products Inc. (ANGP) designs, develops and manufactures on-board low-pressure adsorbed natural gas (ANG) storage technology, and related products, for all classes of motor vehicles. The unique ANGP business model of working through a coalition of major corporations, each with specific competencies and global infrastructure, assures the market of the best combination of science, technology and manufacturing. ANGP has one main objective: to be the leading motor vehicle ANG technology company, providing products that are disruptive, enabling and manufactured to the highest standards of safety, performance and reliability. For more about ANGP, please visit www.angpinc.com.
Ingevity: Purify, Protect and Enhance
Ingevity provides specialty chemicals and high-performance carbon materials and technologies that help customers solve complex problems. These products are used in a variety of demanding applications, including asphalt paving, oil exploration and production, agrochemicals, adhesives, lubricants, printing inks and automotive components that reduce gasoline vapor emissions. Through a team of talented and experienced people, Ingevity develops, manufactures and brings to market products and processes that purify, protect and enhance the world around us. Headquartered in North Charleston, S.C., Ingevity operates from 25 locations around the world and employs approximately 1,500 people. The company is traded on the New York Stock Exchange (NYSE: NGVT). For more information, visit www.ingevity.com.
As the innovation engine of United Technologies Corp. (UTC), United Technologies Research Center (UTRC) supports the development of new technologies and capabilities across the company and collaborates with external research organizations, universities and government agencies globally to push the boundaries of science and technology. Further, UTRC leads the monetization of UTC’s intellectual property through business model innovation. UTRC is headquartered in East Hartford, Connecticut, with additional operations at its affiliate in Berkeley, California, and its subsidiaries in Shanghai, China; Rome, Italy; and Cork, Ireland. UTC, based in Farmington, Connecticut, provides high technology systems and services to the building and aerospace industries. Find out what it means to Be Curious at www.utrc.utc.com.
About A. Schulman, Inc.
A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. Since 1928, the Company has been providing innovative solutions to meet its customers' demanding requirements. The Company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The Company employs approximately 4,800 people and has 54 manufacturing facilities globally. A. Schulman reported net sales of approximately $2.5 billion for the fiscal year ended August 31, 2016. Additional information about A. Schulman can be found at www.aschulman.com.
For more information, contact:
Matt Bonelli, Vice President