Ryder System announced that it will purchase state-of-the-art compressed (CNG) tank systems from Quantum Fuel Systems Technologies Worldwide through a new long-term agreement.
Ryder said it will purchase the systems directly from Quantum and install them onto CNG-powered vehicles with a team of Ryder technicians using state-of-the-art industry procedures related to these systems.
Natural gas tank storage systems are one of the most expensive components of a natural gas vehicle, Ryder said, but by purchasing the systems direct, Ryder can pass savings onto its lease customers, ultimately delivering a faster return on investment.
In addition to the purchasing agreement, Quantum and Ryder will work together to improve future fuel system designs.
“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,” said Dennis Cooke, Ryder president of Global Fleet Management Solutions, Dennis Cooke. “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.”
Ryder will be using Quantum’s Q-lite CNG tank system, which is lighter than other tank systems on the market, making it highly effective in delivery applications where payloads have increased and on-board weight saving is essential.
“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,” said Brian Olson, president and CEO of Quantum. “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."