IDAHO FALLS, Idaho, Dec. 15, 2004 (PRIMEZONE) -- Intrepid Technology and Resources, Inc. (ITR) (OTCBB:IESV), a renewable energy company, and the Idaho National Engineering and Environmental Laboratory (INEEL) continue to offer low-priced natural gas (CNG) in Idaho Falls.
While gasoline has hovered around $2.00 per gallon the past year in Idaho Falls, compressed natural gas (CNG) prices have not exceeded $1.76 per gallon. The INEEL installed the CNG fueling station at 1520 Grandview in Idaho Falls in the late 1990's and opened it to the public in 2000 as a collaborative effort with Wright Oil and Tire, L/CNG Energy Systems and the INEEL. Earlier this year, Intrepid purchased the operational rights to the station, and now keeps the gas flowing to a variety of customers including the INEEL.
The INEEL and Intrepid continue to work together through a contract to provide alternative vehicle fuel to customers owning vehicles powered by CNG. The fueling station was first opened as part of a Cooperative Research and Development Agreement (CRADA) with the INEEL. The CRADA was designed to develop and demonstrate a low-cost liquefied and compressed natural gas (L/CNG) fueling station. CNG alternative fuel vehicles demonstrate an 80 percent reduction in ozone-forming emissions, compared to conventionally fueled vehicles.
"Both the INEEL and the City of Idaho Falls have benefited from the low-priced fuel, filling their CNG vehicles on a daily basis," says Brad Frazee, manager of Intrepid's Bio-fuels division. The largest customer is an out-of-state bus company that has selected Idaho Falls as one of its refueling points.
Frazee expects the Idaho Falls station to provide a market for some of the renewable natural gas produced at the Whiteside Dairy near Twin Falls. "Intrepid, a public company headquartered in southeast Idaho, is in the process of completing a biogas facility capable of producing commercial volumes of natural gas from cattle manure. Soon, Idaho Falls residents may be driving their CNG vehicles on cow power," Frazee adds.
Bruce Wilding, the INEEL's program manager for Alternate Fuels, notes "The INEEL's energy security mission allows us to explore a variety of transportation options for the future. This is an exciting time for the INEEL to be in the forefront -- leading the way for new clean, efficient energy sources."
Under the operating agreement, the INEEL uses the refueling station to fuel its fleet of CNG-fueled, light-duty vehicles and other local fleets, and to conduct research and development activities.
The station is running close to its maximum capacity and expansion plans are in the works Frazee says. Intrepid intends to install equipment at the station that will introduce liquid natural gas (LNG) to the station's product line. LNG offers the capability of driving further on a tank of fuel than CNG.
About Intrepid Technology: We are a technology application innovator of Biogas products and services designed to assist in worldwide energy independence and reduce pollution from renewable agriculture feedstock and industrial and agriculture waste materials.
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