Gas money

by The City Wire staff ([email protected]) 64 views 

The Arkansas Energy Office (AEO), a division of the Arkansas Economic Development Commission (AEDC), announced Friday (Jan. 6) grants totaling $470,000 to go toward the development of two Compressed Natural Gas (CNG) fueling stations in Arkansas.

Satterfield Oil Company will receive $235,000 to add CNG to an existing station on Oak Street in Conway and the City of Little Rock will receive $235,000 to add CNG to an existing fueling station at 9th  St. and I-30.

The funds were awarded based on factors such as overall impact, leveraged funds, energy and emissions reductions and job creation.

“For Arkansas to make significant advances in alternative fuels, we need to build an infrastructure that supports their use,” Gov. Mike Beebe said in the statement. “These new Compressed Natural Gas stations will give more Arkansans easier access to another domestic fuel choice.”

The $470,000 in funding was provided through Oil Overcharge Funds ($400,000) and Senate General Improvement Funds ($70,000).

The additional CNG infrastructure provided through these new stations will complement the AEO’s existing CNG conversion rebate program. This program provides a rebate of up to 50 percent of the cost of conversion or the incremental cost of purchasing a new CNG vehicle. This rebate is funded through the American Recovery and Reinvestment Act.

Link here to read previous The City Wire coverage of the rebate program.