Honda Buys Stake in Gas Refueling Company

Honda Motor Co. said its American division bought a 20% stake in a privately held Canadian maker of natural-gas-vehicle refueling units with an eye to making life easier for owners of its Civic GX natural-gas-powered car. Financial details of the deal with Toronto-based FuelMaker Corp. were not disclosed. Honda said it will provide market research information to help FuelMaker develop an inexpensive home refueling unit for natural gas vehicles. The new product would enable natural-gas-powered vehicles to be fueled from a homeowner’s natural gas line as well as at public refueling stations. Most natural-gas-powered vehicles are now purchased by corporate and government fleets to help meet federal energy conservation goals, the Japanese auto maker said. These groups typically maintain their own refueling facilities. Honda has been selling the natural-gas-powered Civic GX since 1997. It has earned a “Super Ultra Low Emission Vehicle” rating, as it produces almost no pollutants.