Longer-term, ChemBioPower also views the heavy truck transportation fuel market as an attractive market.
- The current diesel fuel costs for the North American Tractor Trailer Truck Fleet of approximately 2.6 million trucks exceeds $100 billion.
- Approximately 10% of these trucks are replaced each year. As these trucks are replaced, fleet owners will be actively seeking non-diesel powered trucks that can reduce overall operating costs by using alternative fuels like DME.
- The U.S. government estimates that 20% of the Tractor Trailer Trucks fleet will switch from diesel fuel by 2024.