Roadway CNG, LLC
Roadway CNG develops and operates natural gas fueling stations. We estimate a 40% IRR after tax, levered basis.
CNG is a mature technology that works well – but it is an early mover opportunity as many US markets are wide open – there are currently about 2,000 stations nationwide. Truck fleet operators want to convert their trucks to CNG because there is a dollar fuel savings of $1 per gallon. It cost ~$20,000 per truck to convert over to CNG.