Ryder Inc. said it has partnered with Quantum Fuel Systems Technologies Worldwide Inc. for the purchase of compressed natural gas tanks.
Natural gas tank storage systems are one of the most expensive parts of a natural gas-powered vehicle, and Ryder said by acquiring the tanks directly it can pass along the savings to its customers.
“Next to the limited commercial fuel infrastructure, the biggest barrier to the broad adoption of natural-gas vehicles is the initial cost of the technology,” Dennis Cooke, Ryder president of global fleet management solutions, said in a statement. “This relationship will help make compressed natural gas vehicles more affordable and reliable, so more businesses can take advantage of their environmental and efficiency benefits.”
As part of the agreement, the two companies will work together to improve fuel system designs besed on Ryder’s experience operating CNG-powered commercial trucks.
“With Ryder, we can bring our leading-edge natural gas tank storage and system technology to a larger base of businesses that are looking to improve efficiencies, save on fueling costs, and get better performance from their natural-gas fleets,” Quantum CEO Brian Olson said in a statement.
Ryder System, which is based in Miami, is the parent company of Ryder Supply Chain Solutions, which is ranked No. 10 on the Transport Topics Top 100 list of U.S. and Canadian for-hire carriers.