Fort Lauderdale, Fla. (June 8, 2022) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and life cycle cost management (LCCM), made available today its latest industry whitepaper addressing “The Future of Heavy-Duty Trucks; Building a bridge to alternative energies for U.S. long haul transportation - the backbone of our national supply chain” to celebrate World Environment Day. The report discusses today’s facts about electric batteries and hydrogen fuel cells, and other alternative energies and addresses actionable strategies that help companies with transportation fleets achieve ESG (Environment, Social, Governance) goals while bridging their plan to a future of alternative energy technology. Click here to download the report.
Fleet Advantage is proud to unveil its latest report to help raise awareness of World Environment Day (June 5). Led by the United Nations Environment Programme (UNEP) and held annually since 1973, the event has grown to be the largest global platform for environmental outreach, with millions of people from across the world engaging to protect the planet.
The topic of alternate fuel and engine technologies has been strongly contested recently, with experts weighing in on the right strategy for all modes of transportation. Private and For-Hire fleets have an interest in adopting zero-emission (ZET) alternatives, but there remain significant concerns for near-term opportunities. According to the American Transportation Research Institute (ATRI), “adoption of these vehicles does offer challenges, including significant changes to freight business models and considerably higher overhead costs in the near-term. Some trucking companies will simply not be able to use today’s ZET technologies as part of their operations.”
Concerns about the viability of electrification today
Many industry observers believe these upstart technologies have so far failed to deliver on their promise because of a simple fact that EV battery technology remains elusive in its quest to accomplish the realities of balancing battery weight, necessary vehicle range, and payload requirements especially for over-the-road Class-8 equipment.
There are also questions about the true impact on existing power grid infrastructure to handle the increased load, as well as costs necessary to upgrade this infrastructure. According to Wood Mackenzie analysts in an article in The New York Times, “It would cost hundreds of billions of dollars to upgrade the distribution networks across the country to meet the country’s clean energy goals. That does not include spending on long-distance transmission lines and power generating equipment like solar and wind farms.”
A proposed strategy to bridge to tomorrow
In the report, Fleet Advantage experts illustrate a desired “bridge” approach by leveraging today’s readily available clean-diesel technology into tomorrow’s alternate fuel options. This will allow companies to lead with the appropriate ESG strategy supported by strategic industry partners, companies with experience, and heavy-duty fleets that can meet today’s need for transport infrastructure while serving as leaders to the future.
“Every industry is in favor of clean energy, and alternate fuel and zero-emission technologies are clearly the future,” said Brian Holland, President and CFO of Fleet Advantage. “The absolute prudent strategy for today and the foreseeable future is to bridge over to zero-emission through today’s accessible clean diesel, which has made significant strides in lowering carbon output levels in even the most heavily-trafficked transportation networks.”
The report also addresses several critical areas, including:
· The economics of deploying EV technology today and their net benefit compared to diesel internal combustion engines
· The logical approach – create a bridge to future energy alternatives
· Pros and Cons of today’s alternate fuel technologies
· The benefits of clean diesel technology
· Innovative truck replacement programs
· The future of alternate fuel technology
About Fleet Advantage
Fleet Advantage is the largest independent lessor for heavy-duty Class-8 trucks and has over $1.8 Billion of assets under its Life Cycle Cost Management (LCCM) program. We serve America’s top corporate fleets, including 5 of the top 10 private fleets in the country. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet asset management, financing solutions, and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Our model of TCO, clean diesel, and safety-enhanced trucks with shorter life cycles complement our customers’ ESG goals. The accomplishments of Fleet Advantage and our leadership team continue to be recognized for tremendous growth and industry leadership with numerous awards, including Top Private Independent and Most Innovative Firm by the Monitor Daily, Top Software & Tech Awards, Top Women Associates in Finance, and Green Supply Chain Awards to name a few. The company has also been named to Inc. magazine’s 500|5000 list of fastest growing companies in the nation, and CEO John Flynn was a recipient of the Ernst & Young Entrepreneur of the Year® Florida – Emerging Category award.