June 12, 2012 in Business and Finance by Business
 | Dovetailing on the recent transcontinental solar powered flight, for today's Energy Sector update, we highlight Propel Fuels. Bloomberg reported early this week that Propel Fuel opened the country's first gas station that will pump gasoline, ethanol, and biodiesel fuels in addition to handling tune-ups and giving directions. According to Bloomberg, Propel Fuels has over $30 million from venture capital, the department of energy, and the California Energy commission to build up to 100 stations in California over the next four years. While existing fuel providers are hesitant to share their capital with an alternative energy source, renting space in their already established network of stations seems the only realistic way that alternative energy will survive on a large scale. The growth will be slow, but the ball is rolling and alternative energy is a fast growing market. Propel Fuels has seen an average of 300 percent growth in the last two years, and other providers are reporting the same. Looking ahead, the new pumps promise to match the needs of the ever changing energy market, adding battery recharges and natural fuels, driving us closer to a cleaner America. For More news and updates, and how they reflect the latest trends, keep it right here to the financial news network. |
View the full article
Tags: Entrepreneurship