IMW SIGNS DISTRIBUTION DEAL WITH RUSSIAN MACHINES

On Thursday, IMW Industries, a wholly-owned subsidiary of Clean Energy, announced an exclusive distribution and customer care agreement with Russian Machines Corporation (RM), a manufacturer of commercial LPG and CNG vehicles. Under the agreement, RM is named the exclusive distributor of IMW compressors, compressed natural gas (CNG) filling solutions, parts, and sole provider of maintenance and service within the Russian Federation. The agreement supports the May 2013 Russian decree 767-p to convert 50 percent of public transit and other vehicles to natural gas fuel by 2020 in cities with a population over one million. As reported by Reuters in May 2013, Russian Prime Minister Dmitry Medvedev’s May decree underscores the economic and environmental benefits a vibrant Russian CNG vehicle market would represent. RM has also been named among the distributors of CNG services in numerous surrounding markets such as Ukraine, Belorussia, Kazakhstan, Armenia, Turkmenistan and Uzbekistan. IMW is active in 26 countries such as China where a recent agreement with China Gas was reached to supply up to 416 compressors for the construction of 310 CNG stations.