Welcome to our dedicated page for Clean Energy Fuels news (Ticker: CLNE), a resource for investors and traders seeking the latest updates and insights on Clean Energy Fuels stock.
Clean Energy Fuels Corp. (CLNE) is the leading provider of natural gas fuel for transportation in North America. The company fuels over 35,000 vehicles daily at about 500 fueling stations across the United States and Canada. Clean Energy caters to a broad customer base, including sectors like trucking, airport shuttles, taxis, refuse collection, and public transit.
The company specializes in building and operating compressed natural gas (CNG) and liquefied natural gas (LNG) fueling stations. They also manufacture CNG and LNG equipment and technologies for their own use and for other companies. In addition, Clean Energy Fuels develops renewable natural gas (RNG) production facilities, aiming to provide a more sustainable future for transportation.
Clean Energy Fuels Corp. operates primarily in the U.S. and Canada, generating the majority of its revenue from compressed natural gas sales. The company purchases natural gas from local utilities and processes it—either compressing, cooling, or liquefying it—at their own plants. The processed natural gas products are then sold through a network of company-owned or customer-owned fueling stations. This vertically integrated approach helps ensure a reliable supply chain and consistent product quality.
In recent years, Clean Energy has made significant strides in expanding its RNG production facilities, tapping into an innovative and eco-friendly fuel source derived from organic waste. This RNG initiative aligns with global sustainability goals and provides a renewable alternative to traditional fossil fuels.
Furthermore, the company maintains strategic partnerships and collaborations with key industry players and governmental bodies, enhancing its market reach and technological capabilities. Financially, Clean Energy continues to capitalize on the growing demand for cleaner transportation solutions.
For those interested in exploring career opportunities with Clean Energy Fuels Corp., please visit their official careers page at Clean Energy Careers.
Clean Energy (NASDAQ: CLNE) has won a contract to design and build a new hydrogen fueling station for Riverside Transit Agency (RTA) in California. The project includes hydrogen supply and maintenance services for the private access station in Riverside. RTA plans to start with five fuel cell buses and expand to over 100 hydrogen-powered buses in the next decade.
The initiative supports RTA's transition to a zero-emission fleet, particularly suitable for their long passenger routes. RTA recently received a $5.1 million grant from the U.S. Department of Transportation for purchasing five hydrogen fuel cell electric buses, marking the beginning of their fleet transition planned for 2026. This is Clean Energy's second hydrogen station project, following the successful completion of Foothill Transit Agency's station in Pomona, CA, in June 2023.
Clean Energy Fuels Corp. (NASDAQ: CLNE) has announced multiple new renewable natural gas (RNG) deals across various sectors. Key agreements include:
- DHL: 100,000 gallons annually for 3 years in CA, TX, and AZ
- Food Express: New RNG station build and 3 million gallons over 10 years
- LA Metro: Extension for 14 million gallons across 5 stations
- NICE Transit: 16.5 million gallons over 5 years for 278 buses
- Multiple other contracts with logistics companies, waste management firms, and transit agencies
The company reports strong RNG sales growth across heavy-duty truck, transit, and refuse markets, demonstrating increasing adoption of RNG as a clean fuel alternative.
Clean Energy Fuels Corp. (Nasdaq: CLNE) has opened an expanded renewable natural gas (RNG) fueling station in Carson, California. The station, owned by Los Angeles County Sanitation Districts and operated by Clean Energy, will serve public vehicles, transit buses, waste haulers, and trucks. The facility dispenses RNG produced from wastewater and organic waste at the Districts' A.K. Warren Water Resource Facility, supplemented by Clean Energy's RNG supply. The station is projected to sell the equivalent of one million gallons of gasoline annually. The project, partially funded by a CalRecycle grant, is part of the Districts' Food Waste Recycling Program.
Clean Energy Fuels Corp. (NASDAQ: CLNE) reported Q3 2024 financial results with revenue of $104.9 million, up from $95.6 million in Q3 2023. The company sold 59.6 million RNG gallons, a 5.1% increase year-over-year. Net loss narrowed to $(18.2) million or $(0.08) per share, compared to $(25.8) million or $(0.12) per share in Q3 2023. Adjusted EBITDA improved to $21.3 million from $14.2 million last year.
Key operational highlights include breaking ground on a new RNG facility at South Fork Dairy, launching a demo program with JB Hunt for Cummins X15N trucks, and expanding their fueling station network in Western Canada with Tourmaline.
Tourmaline Oil Corp. and Clean Energy Fuels Corp. have opened two new compressed natural gas (CNG) fueling stations in Alberta, advancing Western Canada's first commercial-grade public CNG fueling network. The new stations in Calgary and Grande Prairie, along with the Edmonton station opened in April 2023, establish a important transportation corridor for trucking companies converting their fleets from diesel to CNG.
This initiative is part of a $70 million Joint Development Agreement announced in April 2023, with plans to build up to 20 CNG fueling stations across Western Canada in the next five years. The network could fuel up to 3,000 natural gas-powered trucks daily once complete. The adoption of CNG has accelerated over the last year, with nine market-leading companies already collectively displacing two million litres of diesel.
The introduction of Cummins' new X15N natural gas engine is expected to further boost CNG adoption in the heavy-duty truck market. Construction on the next CNG fueling station is set to begin in Kamloops, B.C., with Fort McMurray and Fort St. John to follow.
Tourmaline Oil Corp. and Clean Energy Fuels Corp. have opened two new compressed natural gas (CNG) fueling stations in Alberta, advancing Western Canada's first commercial-grade public CNG fueling network. The new stations in Calgary and Grande Prairie, along with the existing Edmonton station, establish a important transportation corridor for trucking companies converting from diesel to CNG.
This expansion is part of a $70 million Joint Development Agreement announced in April 2023, aiming to build up to 20 CNG fueling stations across Western Canada in five years. The initiative has already attracted nine market-leading companies, collectively displacing two million litres of diesel. The network, once complete, could fuel up to 3,000 natural gas-powered trucks daily.
The project coincides with Cummins introducing its X15N natural gas engine to the Canadian and U.S. heavy-duty truck market, offering diesel-like performance with reduced emissions. Construction on the next CNG station is set to begin in Kamloops, B.C., with Fort McMurray and Fort St. John to follow.
Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced its plan to release financial results for the third quarter of 2024 on November 6, 2024, after the market closes. This will be followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). The call will be hosted by Andrew J. Littlefair, President and CEO, and Robert M. Vreeland, CFO.
Investors can participate in the live call by dialing 1.800.225.9448 from the U.S. or 1.203.518.9708 internationally, using the Conference ID: CLEAN. A telephone replay will be available for about three hours after the call ends, accessible until December 6, 2024. A live webcast will also be available on the company's website, with a 30-day replay option.
Clean Energy Fuels Corp. (NASDAQ: CLNE) has announced a new agreement with Houston's Metropolitan Transit Authority of Harris County (METRO) to build the agency's first private compressed natural gas (CNG) fueling station. The station will serve up to 120 of METRO's newest natural gas-powered transit buses, consuming an estimated 2 million gallons of CNG annually.
Clean Energy will design, build, and maintain the station, which is set to play a important role in METRO's efforts to reduce nitrogen oxide (NOx) and carbon emissions. The transition to CNG is expected to achieve a 90% reduction in NOx and tailpipe emissions. The new station and buses will also be able to transition to renewable natural gas (RNG), potentially reducing carbon emissions by over 300%.
Construction is expected to begin in early 2025 at the Hiram Clarke facility in Houston's southwest. This agreement represents Clean Energy's largest deal in the last decade, highlighting the ongoing transition to cleaner-burning natural gas by major fleets.
Clean Energy Fuels Corp. (Nasdaq: CLNE) has launched a program allowing heavy-duty fleets to test a 2025 Peterbilt 579 day cab tractor equipped with Cummins' 15-liter X15N natural gas engine. J.B. Hunt Transport Inc. is the first participant in this demo truck program, which aims to showcase the capabilities of renewable natural gas (RNG) in reducing carbon emissions.
The truck will be available for fleets to test on their normal routes for up to two weeks, utilizing Clean Energy's extensive fueling infrastructure. The X15N engine, powered by RNG, can reduce carbon emissions by up to 300% compared to diesel. Clean Energy's demo program is expected to run through 2025, targeting various trucking companies across the United States.
Clean Energy Fuels Corp. (NASDAQ: CLNE) reported Q2 2024 financial results:
- Revenue of $98.0 million, up from $90.5 million in Q2 2023
- Net loss of $(16.3) million, or $(0.07) per share
- Adjusted EBITDA of $18.9 million, up from $12.1 million in Q2 2023
- 57.1 million RNG gallons sold, down 2.6% year-over-year
The company partnered with Maas Energy to build up to nine RNG production facilities and completed construction on another dairy farm RNG project. Clean Energy maintains its 2024 outlook of $62-$72 million in Adjusted EBITDA but updated its GAAP net loss forecast to $(91)-$(81) million.
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