GFS

Name

GFS

Legal name

Gaseous Fuel Systems Corporation

Website

https://gfs-corp.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Industrial Bi-Fuel Conversion Systems

NAICS

Electric Power Generation (22111)

SIC

Engines & Turbines (3510), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

EV Retrofit & Electrification Conversions (Fleet/Commercial) (TLAKAMAK)

akta.pro secondary industries

Truck & Commercial Vehicle Electrification Manufacturing (eAxles/Battery Packs/Fuel Cells) (IMACABAK), Fuel Cell Distributed Generation (Hydrogen/Natural Gas SOFC/PEM) (EUACALAK)

Keywords

• Natural gas conversions
• Bi-fuel systems
• LNG conversion systems
• Mine haul truck conversions
• Stationary power generation

Headquarters

HQ city

Weston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Sale of LNG/Diesel Bi-Fuel Conversion Systems: GFS Corp designs, manufactures, and sells proprietary EVO-MT, EVO-SP, and EVO-LT bi-fuel conversion systems as products (hardware + controls) to mine operators, power generation companies, and rail operators. Revenue is generated through the sale of conversion kits and associated onboard LNG fuel storage modules. Installation is typically performed by GFS or factory-authorized distributors. The company also earns revenue from spare parts, service, and ongoing support.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

GFS Corp designs and manufactures proprietary Natural Gas + Diesel (NG+D) bi-fuel conversion systems under the EVO product line that enable large, high-horsepower diesel engines to operate on a combination of LNG and diesel fuel. The EVO-MT systems convert 100+ ton mine haul trucks, EVO-SP systems convert stationary diesel generators and industrial engines, and EVO-LT systems convert diesel locomotives, achieving 35-70% diesel substitution rates while preserving OEM engine performance.

Product overview

GFS Corp offers the EVO line of natural gas + diesel (NG+D) bi-fuel conversion systems across three industry segments: mining (EVO-MT), stationary power (EVO-SP), and rail (EVO-LT). All systems share core NG+D technology enabling diesel engines to operate on a combination of natural gas and diesel fuel with 35-70% gas substitution rates. The EVO-MT series includes specialized conversions for Caterpillar (7930, 7770, 7850C), Komatsu (7300, 8300, 9300), Terex (4400), and wheel loader/excavator models (9920, 4000-6). The EVO-SP series provides standardized conversions for stationary generators from 400 HP to 4000+ HP across nine model sizes (1500-6800). The EVO-LT system serves locomotive applications. The proprietary EVO-Connect telematics add-on provides remote monitoring across all product lines.

Differentiator

Problem solved

Functional benefit

Brands

• EVO-MT: Liquid Natural Gas (LNG) conversion systems for large mine haul trucks and wheel loaders
• EVO-SP
• EVO-LT
• EVO-Connect

Products and services

• EVO-MT 7930 Liquid natural gas conversion system for Caterpillar 793 mine haul trucks with 360 US gallon LNG capacity, 7-10 day hold time, and hydraulic tilt system for engine access.
• EVO-MT 7770 LNG conversion system for Caterpillar 777 series mine haul trucks with approximately 190 US gallon LNG capacity and seamless automatic transition between LNG+diesel and 100% diesel operation.
• EVO-MT 7300

Quantifiable outcome

• 35-50% diesel displacement for mine haul trucks; up to 70% for stationary power applications
• +6 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature9 records

Partnerships

Six partnerships are on record, tiered major, core and flagship.

• FNX Technologies LLCmajorChannel Partner/ Reseller/ DistributorFNX Technologies LLC is GFS Corp's exclusive master distributor in Peru for EVO-MT LNG mine truck conversion systems. FNX offers integrated solutions for natural gas mobility from wellhead to end user, with regional offices in North and South America, the Middle East, and Europe. FNX has developed a unique concept of small-scale liquefaction plants to meet requirements of industrial users, fleet operators, railway operators, and mining companies requiring 15,000 to 75,000 gallons of LNG per day.
• GFS Asia Pacific Co., Ltd.coreChannel Partner/ Reseller/ DistributorGFS Asia Pacific Co., Ltd. is the factory-authorized distributor for GFS Corp's EVO-MT and EVO-SP products covering Thailand, Indonesia, Malaysia, and Vietnam. Located in Pathumthani, Thailand, the company manages sales, distribution, and support for GFS products across Southeast Asian markets.
• The Vanjen GroupcoreChannel Partner/ Reseller/ DistributorThe Vanjen Group is a HUB-certified (MWBE) manufacturer's representative firm based in Central Texas, specializing in power generation, oil & gas, and mining industries. Vanjen Group is a distributor for the EVO-SP bi-fuel conversion system and hosted an open house demonstration during the 2013 Offshore Technology Conference in Houston, Texas.
• Depco Power SystemscoreChannel Partner/ Reseller/ DistributorDepco Power Systems is a Houston, Texas-based distributor for the EVO-SP bi-fuel conversion system. Depco buys and sells new, rebuilt, and used generators, engines, marine engines, power units, and parts. The company hosted the EVO-SP demonstration event during OTC 2013 at its Houston facility.
• Plum Energy LLCmajorStrategic or Co-development PartnerPlum Energy LLC is constructing a dedicated LNG production plant at Alpha Coal West's Eagle Butte Mine in Wyoming to supply LNG for GFS Corp's converted haul truck fleet. The plant, scheduled to come online in March 2015, has a capacity of 28,500 gallons of LNG per day and includes an on-site refueling station capable of refueling eight trucks simultaneously. This partnership addresses the LNG supply infrastructure challenge that enables GFS's conversions to operate at scale.
• Alpha Natural Resources (Alpha Coal West)flagshipStrategic or Co-development PartnerAlpha Natural Resources, through its subsidiary Alpha Coal West, was GFS Corp's first launch customer and the world's first mining company to operate LNG-powered mine haul trucks. Beginning with a pilot program in 2012 at Belle Ayr Mine, Alpha expanded to convert its entire Caterpillar 793 fleet at Eagle Butte Mine by 2014 (16 trucks total), representing GFS's first large-scale commercial deployment. Alpha also partnered with Plum Energy to build on-site LNG infrastructure.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Others

• Chart Industries: Chart Industries is a leading manufacturer of cryogenic equipment, including LNG storage tanks, vaporizers, and distribution systems. GFS's onboard LNG storage pods rely on cryogenic technology comparable to Chart's, making it a key enabling/supplier peer in the LNG conversion value chain.

Direct peers

• Hexagon Composites: Hexagon Composites (parent of Agility Fuel Solutions) manufactures composite CNG/LNG fuel tanks and systems for heavy-duty transportation. It is a direct comparable to GFS in LNG fuel storage and delivery for commercial fleets, including mining and rail applications.
• Westport Innovations (Westport Fuel Systems): Westport develops natural gas engine and fuel system technologies for heavy-duty transportation and industrial applications. It is a direct comparable to GFS in alternative-fuel engine conversion technology, with overlapping customer segments in trucking and stationary power.
• Agility Fuel Solutions (Hexagon Agility): Agility Fuel Solutions (part of Hexagon Composites) designs and manufactures CNG and LNG fuel systems for medium- and heavy-duty trucks. It is a direct peer to GFS in supplying alternative fuel storage and delivery systems for commercial vehicle fleets, including transit and refuse.

Broad incumbents

• Caterpillar: Caterpillar is the dominant OEM for large mine haul trucks (793, 785, 777 series) and is actively developing battery-electric and hydrogen prototypes. As the OEM of the platforms GFS retrofits, Caterpillar is both a critical partner and a potential long-term competitive threat.
• Cummins: Cummins manufactures diesel and natural gas engines across heavy-duty, industrial, and power generation applications. As a dominant engine OEM with its own natural gas engine portfolio, Cummins is a broad incumbent whose product decisions directly shape the opportunity for GFS's bi-fuel retrofits.

Emerging players

• Ballard Power Systems: Ballard is a leading fuel cell manufacturer targeting heavy-duty mobility (trucks, buses, rail) and stationary power. While fuel cells are a different technology, Ballard targets many of the same mining, rail, and stationary power decarbonization use cases that GFS addresses with bi-fuel conversions.
• Clean Energy Fuels: Clean Energy Fuels is a major LNG/CNG fuel provider for heavy-duty trucks, transit, and refuse fleets. While primarily a fuel supplier, it competes in the same LNG-for-trucks value chain as GFS and has explored natural gas engine system integration, making it a relevant adjacent comparable.
• New Way Trucks / McNeilus (CNG refuse truck OEM): New Way Trucks and McNeilus manufacture CNG-powered refuse and heavy-duty vocational trucks. They are emerging alternative-fuel commercial vehicle peers, relevant as potential adjacent customers/competitors in the natural gas heavy-duty vehicle ecosystem that GFS serves.
• New York Energy and Engineering / Verdagy (hydrogen producer analog): Verdagy produces green hydrogen for industrial decarbonization. While not a direct GFS competitor, it represents the emerging hydrogen ecosystem that could compete with LNG bi-fuel for the same industrial decarbonization budgets in mining and power generation.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/GFScorporation
• Facebookfacebook.com/GFScorporation
• LinkedInlinkedin.com/company/gfs-corp

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GFS