Both companies have entered into a long-term agreement that will help reduce costs, extend fuel range and increase vehicle uptime for businesses that lease natural gas trucks from Ryder. Under this partnership, Ryder will buy Quantum’s Q-lite™ CNG tank systems, which are highly effective in delivery applications, and install them onto natural gas-powered vehicles with a team of technicians following comprehensive procedures to meet the highest industry standards.
CNG tank storage systems are one of the most expensive components. By purchasing the systems direct, Ryder can pass savings onto its lease customers, ultimately delivering a faster return on investment for this technology. Ryder will be the first transportation company to use Quantum’s OEM-quality CNG systems on a national scale. Besides, the companies will work together to improve future fuel system designs, based on Ryder’s market leadership and experience operating NGVs in commercial truck applications.
“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,” stated Ryder President of Global Fleet Management Solutions, Dennis Cooke. “This relationship will help make natural gas vehicles more affordable and reliable, so more businesses can take advantage of their environmental and efficiency benefits.”
Moreover, President and CEO of Quantum Brian Olson commented. “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. Our Q-Lite™ natural gas storage module is gaining increasing market attention due to its storage efficiency and light weight characteristics that help to improve performance and increase fuel range in commercial trucking applications.”