UPS is spending $450 million to expand its fleet of natural gas vehicles making deliveries.
"We've been at this for decades, so this additional 6,000 vehicles rose our existing fleet of 10,000 vehicles to be one of the largest in the transportation industry," Mike Whitlatch, vice president of global energy and procurement at UPS, told Cheddar Wednesday.
Whitlatch says this investment could lead to a much cleaner future for the company.
"I think the real story here is that natural gas provides us a bridge or a pathway to use renewable natural gas (RNG) or biomethane, which offers significant emissions benefits over conventional fossil fuels."
Biomethane is created from organic matter found in landfills or wastewater treatment plants.
"This is a seamless integration," Whitlatch said. "We can take RNG from these sources throughout the United States, or wherever it's at in the world, we can integrate it within existing pipeline systems, we can move it from point A to point B, and seamlessly compress it and place it into our existing fleet today."
Whitlatch says UPS continues to look for ways to strive for a clean future, including its fleet of hybrid and electric vehicles.
"It's an all-in approach to figure out how we can lessen our impact on the planet."
Microsoft has announced that it's hired Sam Altman and another co-founder of ChatGPT maker OpenAI after they unexpectedly departed the company days earlier in a corporate shakeup that shocked the artificial intelligence world.
Many factors lie behind the disconnect, but economists increasingly point to one in particular: The lingering financial and psychological effects of the worst bout of inflation in four decades.
Advertisers are fleeing social media platform X over concerns about their ads showing up next to pro-Nazi content, hate speech on the site in general or billionaire owner Elon Musk’s own posts endorsing an antisemitic conspiracy theory.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
The board of ChatGPT-maker Open AI said Friday it has pushed out its co-founder and CEO Sam Altman after a review found he was “not consistently candid in his communications” with the board.
