Penske Accepting $400,000 U.S. Department of Energy Grant

READING, Pa., May 6, 2015 — The U.S. Department of Energy has awarded Penske Truck Leasing a $400,000 grant for the company's Alternative Fuel Vehicle (AFV) Demonstration and Enhanced Driver Experience Project, to be administered by the Office of Energy Efficiency and Renewable Energy. Penske will utilize the funds to further introduce alternative fuel vehicles to its customer base.

"This is a unique program and the first of its kind for our company," explained Matt Krasney, Penske Director of Alternative Fuels. "This grant will allow fleets to experience alternatively fueled vehicles at a reduced cost, and it will provide Penske the ability to expand our work with customer fleets via comprehensive demonstrations and deep dive technical support."

The company is beginning the process of identifying truck leasing and commercial truck rental customers nationally to participate.

"We plan to target customers who currently don't have natural gas equipment, because they may have been deterred by the high vehicle cost and lack of information," he continued. "Penske will walk them through the process, step-by-step."

Penske Truck Leasing is an affiliate partner in the U.S. EPA SmartWay program and Penske Logistics is a partner in the trucking carrier and logistics categories. Penske Truck Leasing is also an affiliate partner in the Canada SmartWay Transport Partnership, which is administered by Natural Resources Canada. In the U.S., Penske Truck Leasing has won the SmartWay Affiliate Challenge Award for the last three years. In 2015, Penske Truck Leasing was given the U.S. EPA Clean Air Excellence Award for the first time in company history.

Penske Truck Leasing is a transportation industry leader in the areas of spec'ing, operating and maintaining fleets of traditionally-fueled vehicles as well as alternative-fueled vehicles that includes natural gas, propane, electric and diesel-electric hybrids.

Penske Truck Leasing Co., L.P., headquartered in Reading, Pennsylvania, is a partnership of Penske Corporation, Penske Automotive Group, General Electric Capital Corporation and Mitsui & Co., Ltd. A leading global transportation services provider, Penske operates more than 216,000 vehicles and serves customers from more than 1,000 locations in North America, South America, Europe, Australia and Asia. Product lines include full-service truck leasing, contract maintenance, commercial and consumer truck rentals, used truck sales, transportation and warehousing management and supply chain management solutions. Visit www.GoPenske.com to learn more. Penske Truck Leasing social media: Move Ahead Blog, Twitter, Facebook, LinkedIn, YouTube, Pinterest and Instagram.