Pricelock & Birmingham Futures Team to Provide Fuel Price Protection to Birmingham Futures Clients

March 26, 2010 - PRLog -- REDWOOD CITY, CA – Pricelock, Inc., the company that provides fuel price predictability to small and large businesses, and Birmingham Futures, Inc., a leading steel procurement advisor, have joined forces to help Birmingham Futures clients manage and optimize their overall fuel spend.

The new partnership enables Birmingham Futures to provide its clients a simple, cost-effective way to price protect their gasoline and diesel fuel purchases. Leveraging Pricelock’s fuel price protection, Birmingham Futures clients can now minimize their exposure to rising fuel prices and protect their bottom line with no change to how they currently purchase fuel.

“We are honored to enable Birmingham Futures clients to take control of unpredictable fuel prices,” said Pricelock Chief Operating Officer Naveen Agarwal. “Fuel prices matter. Our goal is to simplify fuel price protection and enable businesses to proactively manage and optimize the cost of their fuel spend.”

“We are the experts in helping businesses price protect their steel costs—and these same businesses are increasingly looking to price protect their fuel as well,” said Birmingham Futures Chairman and Chief Executive Officer Jonathan C. Putman. “Birmingham Futures is focused on providing our clients with world class service and we believe Pricelock is well positioned to help our clients save time and money with their fuel spend.”

With Pricelock’s fuel price protection, businesses receive a payout when national average fuel prices rise above their set protection price. Fuel price protection does not entail pre-purchasing fuel so businesses benefit from lower fuel prices at the pump when prices fall. For businesses with large fleets and complex situations, Pricelock provides highly customized fuel price protection plans that include ongoing protection plan performance management and FAS 133 and mark-to-market valuation reporting.

About Pricelock

Pricelock, headquartered in Redwood City, California, provides solutions to manage volatile fuel prices which are top of mind concerns for businesses and individuals alike. The company’s full range of solutions has been benefitting fleets, employers, car manufacturers and consumers every day. From national brands such as Chrysler, Hyundai and Aegis to small, local businesses, Pricelock is responsible for more than 100 million gallons of price protected fuel. Pricelock also offers Carbonlock™, a unique, patented “green fleet” program that allows fleets and businesses to efficiently acquire certified carbon offsets and become carbon neutral. A full suite of Pricelock’s solutions can be found at http://www.pricelock.com.

About Birmingham Futures

Birmingham Futures (formerly Birmingham Futures Exchange Incorporated), headquartered in Birmingham, Alabama, is a privately held corporation founded in 2003 by 25 year steel veteran Jonathan C. Putman. Birmingham Futures, a registered member of the National Futures Association and a commodity broker, seeks to match counterparties who desire to eliminate market risk in domestic steel and scrap prices through the use of steel futures and over-the-counter (OTC) price swaps. For more information, please visit http://www.birminghamfutures.com.