An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Clean Energy and bp Broaden Joint Venture Focused on Renewable Natural Gas Project Development Aimed at Delivering Lower Carbon Intensity Fuels
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Clean Energy Fuels Corp. (NASDAQ: CLNE) and bp have announced a joint venture to develop renewable natural gas (RNG) projects at dairy farms in the Midwest. These facilities, located in South Dakota and Iowa, will convert methane from over 30,000 cows into more than seven million gallons of RNG annually. This initiative aims to meet the growing demand for RNG, highlighted by recent agreements to fuel Amazon's heavy-duty trucks. The first RNG facility is expected to be operational in 2022, enhancing Clean Energy's vast network of RNG fueling stations across the U.S.
Positive
Joint venture with bp to develop RNG projects at dairy farms.
Potential to produce over seven million gallons of RNG annually from methane.
First RNG production facility expected to start operations in 2022.
Growing demand for RNG due to significant contracts, including with Amazon.
Negative
None.
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Clean Energy Fuels Corp. (Nasdaq: CLNE) and bp today announced that its renewable natural gas (RNG) joint venture will build on previously announced plans to finance and develop new projects at dairy farms, starting in the Midwest.
Located in South Dakota and Iowa, the dairy farms, with more than 30,000 cows, have the estimated potential to convert the methane produced from waste into more than seven million gallons of RNG annually.
Agriculture accounts for nearly 10 percent of U.S. greenhouse gas (GHG) emissions, according to the U.S. Environmental Protection Agency. Capturing methane from farm waste can lower these emissions. RNG is used as a transportation fuel and has lower GHG emissions on lifecycle basis when compared to conventional gasoline and diesel. The California Air Resources Board has given similar projects a carbon intensity (CI) score of weighted average of -320 compared to CI scores of 101 for conventional diesel fuel and 15 for electric batteries.
“The demand for RNG is rapidly growing, highlighted by our recent announcement to fuel a new fleet of Amazon heavy-duty trucks deploying across the country,” said Clay Corbus, senior vice president and co-head of renewable fuels at Clean Energy. “Our joint venture with bp to develop new supplies is critical to keeping up with this demand. The RNG that is expected to flow from these dairies to our fueling infrastructure will allow our customers to dramatically reduce their carbon emissions and turn their sustainability goals into reality.”
Dynamic Holdings will oversee construction and develop and operate the facilities following the execution of an agreement with the joint venture to execute multiple phases of dairy RNG projects.
With over 550 dispensing locations, Clean Energy has the largest network of RNG stations in the U.S. bp’s world-class trading organization transports RNG to California markets and monetizes the environmental credits associated with dispensing the RNG.
“These collaborations are critical steps toward our ambition of helping the world reach net zero by 2050 or sooner,” said Sean Reavis, bp biogas origination. “Our biogas strategy is focused on growth and developing an integrated business model that allows us to deliver the unique energy products the market is demanding.”
The first RNG production facility is expected to be operational in 2022.
About bp
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp is America’s largest energy investor since 2005, investing more than $130 billion in the economy and supporting about 230,000 additional jobs through its business activities. For more information on bp in the US, visit www.bp.com/us.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada. Visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
About Dynamic
Dynamic was founded in 2011 and is a full-service company that provides leading edge waste recovery solutions for both the Agricultural and Food Processing Industries. Three of its founding owners are involved with the daily operations of the business. They are the driving force of the company by integrating Dynamic's technology and design into the following areas: landfill diversion, anaerobic digestion, nutrient concentration, and water treatment. Dynamic adds a unique value in the field by being experienced, and knowledgeable in the finance, design, development, operation, and management of customized world-class infrastructure assets. These turnkey renewable energy and clean water solutions dispose of organic waste to impact the economy in environmentally friendly ways.
