A California-based natural gas company has acquired a majority stake in NG Advantage, a Milton company that delivers compressed natural gas to commercial and industrial customers.
Clean Energy Fuels Corp., a provider of natural gas fuel for transportation, purchased a 50.1 percent share of NG Advantage on Wednesday. The company owns about 500 natural gas vehicle fueling stations nationwide.
Mary Evslin, who co-founded NG Advantage, said the company’s mission will not change. She said the company will build on Clean Energy’s existing infrastructure to expand its natural gas delivery service.
“We just got a whole lot of capital. We should be able to expand faster,” she said. “Now we have to pull it off.”
NG Advantage plans to serve more commercial and industrial customers, such as hospitals, paper mills, asphalt plants, dry cleaners, prisons and other commercial and industrial businesses that use natural gas to process their products or for heat, according to Evslin.
She added that the company will keep its corporate headquarters in northern Vermont, and will use the proceeds from the stock sale to expand, hire more employees and pay down debt. She said NG Advantage owns the second largest share in the company.
Vermont Gas Systems, the state’s natural gas utility, hired the company to deliver natural gas to businesses in Middlebury this summer by way of a “virtual pipeline.” Evslin said the company is also speaking with International Paper in Ticonderoga, New York, to discuss the possibility of delivering natural gas to the paper mill.
