SOURCE: Propel Fuels

Propel Fuels

April 23, 2015 11:05 ET

Propel Fuels Relocates Headquarters to Sacramento

Announces New Management and Directors, Strategic Focus and Operating Milestones

SACRAMENTO, CA--(Marketwired - Apr 23, 2015) - Propel Fuels, California's largest retailer of low-carbon liquid fuels, has announced it will move its headquarters from Redwood City to Sacramento. As California's low carbon economy grows over the next decade, Sacramento will be home to the people and policies shaping its future. "The low carbon economy is being defined in Sacramento," said Propel's founder and CEO, Rob Elam, "There's nowhere we'd rather be."

California, the world's 7th largest economy and 3rd largest petroleum market, is accelerating its implementation of carbon reduction and clean air regulations, including AB 32 Global Warming Solutions Act, the Low Carbon Fuel Standard (LCFS), and Carbon Cap-and-Trade. In addition, Governor Jerry Brown has announced an Executive Order to reduce petroleum use in California 50 percent by 2030. Propel is committed to strong partnerships between the public and private sectors, developing and supporting progressive public policy that brings equitable, market-based solutions to realize the state's policy goals.

In 2014, Propel appointed new board directors and management to refocus the company on California's carbon opportunity. Company Founder Rob Elam returned to Propel as Chief Executive Officer, with Koichi Kurisu appointed as COO. Propel's board is now composed of Mr. Elam and two new directors, Eric Starr (Chairman) and Barrett Carlson of CapX Partners, a Chicago-based provider of capital to middle market companies.

Under new management Propel has seen record results across all significant Key Performance Indicators, including Same Store Sales, COGS, Customer Acquisition, Customer Retention, and Capacity Utilization. Additional recent business highlights for the company include:

  • Record Flex Fuel Sales: Propel now dominates California's E85 Flex Fuel market with more than 70 percent of all Flex Fuel sold statewide1.
  • Diesel HPR Launch: In March, Propel introduced next generation Diesel HPR2, the highest performing, lowest carbon diesel fuel available in North America.
  • New Partnerships: Propel announced partnerships with California's largest low carbon fuel suppliers Pacific Ethanol and Neste Oil.
  • Technology and Data: The company delivered industry leading technology and customer intelligence, including ground breaking low carbon consumer analytics, data driven infrastructure locationing technologies, CleanDrive carbon accounting, and a new station locator and real time pricing app.

The company will maintain a presence in the Bay Area with its Silicon Valley Workshop, focused on innovation in customer experience, retail technologies, data analytics and partner initiatives. Propel was named one of Silicon Valley's fastest growing private companies in 2014.

Propel is committed to adding value to the retail fueling sector through its co-location business model. The company's operating partners enjoy the highest margins and volumes in the business, increasing C-Store sales and site awareness. Surveys3 show that Propel customers demonstrate strong loyalty selecting low carbon fuels over petroleum 75 percent of the time, with 50 percent of customers filling exclusively with Propel fuels. In Q4 2015 Propel will announce new products for operators seeking to offer low carbon fuels at their locations.

About Propel
Propel was founded in 2004 to bring better fuels to the retail market, offering Flex Fuel E85 and advanced diesel blends that deliver more power, produce less carbon, and cost less than petroleum. The company leads the retail fueling industry with innovations like CleanDrive4, the nation's first integrated carbon emission reduction tracking platform. Find Propel at 43 Flex Fuel E85 & 36 advanced diesel locations across California and Washington State.

Apple iOS: itunes.apple.com/us/app/propel-station-locator-e85/id912207853?mt=8
Android: play.google.com/store/apps/details?id=com.propelfuels.stnlctr
Web: propelfuels.com
Facebook: facebook.com/propelfuels
Twitter: @PropelFuels

1. Propel Fuels, "E85: A CA Success Story," Release date May, 2015

2. Propel Fuels and Neste Oil Launch Diesel HPR, March 2015 propelfuels.com/dieselhprlaunch

3. Propel Fuels and LUX Insights, "Low Carbon Fuels Working for California, Customer Survey," 2012-2014 propelfuels.com/newsletters/fuelsurvey2014/fuelsurvey2014.html

4. Propel CleanDrive, Carbon Emission Reduction Tracking Platform propelfuels.com/cleandrive

Contact Information

  • Media Contact
    Jaime Quick
    ChangeUp for Propel Fuels
    206-229-5183 (mobile)
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