Waste Management, Inc.WM , along with New Jersey Natural Gas ("NJNG") recently announced the opening of Ocean County, NJ's first public-access compressed natural gas ("CNG") fueling station.
Currently, CNG is clearly the cleanest fuel available to power heavy-duty vehicles. Additionally, it offers cost advantages over traditional fuels and enables vehicles to make less noise than those running on diesel. This new CNG station will benefit the Ocean County community as well as Waste Management.
Waste Management is committed to its initiatives to improve sustainability, and the fueling station and local CNG vehicles are part of the same. In 2007, Waste Management decided on a company-wide objective to reduce fleet emissions by 15% by the year 2020. The company has already achieved this objective and the fleets gained increased access to cleaner-burning compressed natural gas fuel.
Waste Management, with its current fleet of CNG vehicles, is the largest owner and operator of clean-running, heavy duty refuse trucks in North America. The company's goal is to develop the cleanest fleet of heavy duty trucks in the industry.
Headquartered in Houston, TX, Waste Management provides collection, transfer, recycling and resource recovery, as well as disposal services to residential, commercial, industrial and municipal customers in the U.S. The company aims to improve customer retention by consistently providing better services and higher value solutions.
Waste Management currently has a Zacks Rank #3 (Hold). Stocks that look promising in the broader Services Industry include Republic Services, Inc. RSG , The Hackett Group, Inc. HCKT and Cintas Corporation CTAS , each carrying a Zacks Rank #2 (Buy).