Propel Fuels, Eco-Energy Sign E85 Pact
According to Propel Fuels, the deal represents a huge step in the maturation of flex fuels and further enables high-blend renewable fuels to compete head-to-head with traditional petroleum.
"This agreement will allow us to focus on our core mission of fueling progress by providing affordable choices for American drivers who are increasingly seeking access to renewable fuels," said Matt Horton, CEO of Propel. "Eco-Energy's extensive supply and distribution capabilities and access to low cost feedstocks strengthens our ability to provide great value to our customers. They are the perfect fit for us as we plan and execute the expansion of our fueling network."
Propel is a retailer of renewable fuels and clean mobility solutions. Eco-Energy is a distributor of renewable fuels.
"As the number and popularity of Flex Fuel vehicles rapidly increases across America, both companies share a similar mission -- to expand the availability of high-blend, domestic fuels to drivers who want to be part of the solution," said Chad Martin, CEO of Eco-Energy. "Propel's dedication to providing drivers with access to high-blend renewable fuels through a superior fueling experience is unmatched in this industry and we are proud to join them in developing this growing market."
In related news, Propel was awarded a $10.1 million grant from the California Energy Commission to build more than 100 flex fuel E85 stations during the next four years. The award was funded through California's AB 118 Alternative and Renewable Fuel and Technology Program.
According to Propel, once built, the new stations will dramatically increase consumer access to American-made, low-carbon E85 fuel.
"With America's largest base of alternative fuel-capable vehicles, California's drivers are rapidly embracing new fuel choices," said Horton. "This funding will enable us to provide greater access to E85 in the state's most underserved markets and provide a critical link to the next generation of low carbon fuels coming into production."