Natural Gas Company Receives Funding

Alternative fuel supplier Applied Natural Gas Fuels Inc. has received $5 million in financing for its operations. The money will be used to purchase liquefied natural gas transport, storage and fueling application equipment, and for general corporate purposes. The secured debt financing was provided by Medley Capital, an affiliate of one of Applied’s existing senior lenders and principal shareholders. “The financing provides us with the capital necessary to execute our near term objectives in our primary markets of transportation and industrial applications,” said President and CEO Cem Hacioglu. “It will also allow us to pursue a number of significant expansion initiatives within and beyond our traditional Southern California territory.” Mark R. Madler