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Zacks Equity Research, On Wednesday July 13, 2011, 3:45 pm EDT
Waste Management, Inc. (NYSE: WM – News) has become the largest owner and operator of clean-running, heavy duty refuse trucks in North America by adding the 1000th natural gas truck to its fleet. The trucks are powered by clean-burning natural gas.
This is in line with the company’s efforts to develop the cleanest fleet of heavy duty trucks in the industry. The trucks that Waste Management runs out of its Carson service yard, as well as a third of its California clean fleet, are powered by liquefied natural gas (LNG), which is derived in-house from the decomposition of organic waste at its Altamont Landfill in Livermore, California. Since November 2009, the landfill has been generating as much as 13,000 gallons of LNG per day, a virtually zero-carbon transportation fuel.
In a year, Waste Management’s 1000 natural gas trucks are expected to displace eight million gallons of petroleum and eliminate 45,100 metric tons of greenhouse gas emissions. The natural gas fleet is part of the company’s environmental sustainability initiative to direct capital spending of up to $ 500 million per annum over a 10-year period to reduce its fleet emissions by 15% and increase the fuel efficiency of its fleet by 15% by 2020.
Waste Management also has CNG and LNG fueling stations at 17 of its facilities throughout North America with more under the anvil. The company hopes to develop a new landfill-gas-to-LNG facility at its Simi Valley, California, landfill.
We appreciate Waste Management’s commitment to reducing greenhouse gas emissions through increased recycling, the use of alternative transportation fuels, and the beneficial use of landfill gas.
Houston, Texas-based Waste Management provides collection, transfer, recycling and resource recovery, and disposal services to nearly 20 million residential, commercial, industrial and municipal customers. The company is also a leading developer, operator and owner of waste-to-energy and landfill gas-to-energy facilities in the U.S. Waste Management competes in niches with Casella Waste Systems Inc. (NasdaqGS: CWST – News), Republic Services Inc. (NYSE: RSG – News) and privately held Safety-Kleen Inc. The shares of Waste Management currently retain a Zacks #3 Rank (short-term Hold recommendation).
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