Clean Energy Opens Renewable Natural Gas Fueling Station in Baltimore

Rhea-AI Summary

Clean Energy Fuels Corp. (CLNE) opens a new renewable natural gas (RNG) station in Baltimore, strategically located near the Pulaski Industrial Area, providing heavy-duty truck fleets access to low carbon, sustainable fuel. The station is part of the growing national fueling network for the heavy-duty market. Clean Energy currently has a network of 590 fueling stations around North America and is steadily expanding that number with stations purposely built and strategically located for heavy-duty truck fleets.

Positive

• Strategic location near the Pulaski Industrial Area
• Investment in the production of RNG at dairy farms to lower greenhouse gas emissions
• Positive reception of the Cummins X15N natural gas engine by large fleets

Negative

• Heavy-duty truck market continues to struggle to find affordable and reliable alternatives to decarbonize their fleets

Station to Provide a Clean, Low-Carbon Alternative and Is Part of Growing National Fueling Network for the Heavy-Duty Market

BALTIMORE--(BUSINESS WIRE)-- Clean Energy Fuels Corp. (NASDAQ: CLNE), the largest provider of the cleanest fuel for the transportation market, announced today the opening of a new renewable natural gas (RNG) station in Baltimore. RNG is made entirely of organic waste and dramatically reduces greenhouse gas emissions. The new station is strategically located near the Pulaski Industrial Area and provides heavy-duty truck fleets access to a low carbon, sustainable fuel in the busy east coast trucking corridor.

The new station is located at 6820 Quad Avenue in Baltimore. (Photo: Business Wire)

The station opening comes at a time when RNG is gaining momentum in the heavy-duty vehicle space with the introduction of the Cummins X15N natural gas engine in 2024. The new 15-liter engine is currently being tested by a handful of the largest and most demanding fleets in the country, such as Walmart, Werner, Knight Swift, and UPS. The early reaction to the X15N has been very positive at a time when the heavy-duty truck market continues to struggle to find affordable and reliable alternatives to decarbonize their fleets.

“Large fleets fueling with RNG have the ability to realize immediate and significant carbon reduction, especially in the heavy-duty truck sector,” said Chad Lindholm, senior vice president of Clean Energy. “The opening of our station in Maryland and others around the country demonstrates the demand for an affordable, clean fuel that reduces greenhouse gas emissions and is available today.”

The new station, located at 6820 Quad Avenue in Baltimore, sits on almost 20 acres and includes four fast-fill dispensers for easy in-and-out fueling of RNG; private time-fill hoses for up to 156 trucks, which allows for cost-effective fueling and the most advanced technology transmitting real-time data to customers; and 156 additional parking places for drivers’ personal vehicles. The multi-million dollar investment in the Baltimore area will put it on the map as a hub for clean, sustainable fueling.

Clean Energy currently has a network of 590 fueling stations around North America and is steadily expanding that number with stations purposely built and strategically located for heavy-duty truck fleets.

Clean Energy is also making substantial investments in the production of RNG at dairy farms. Agriculture accounts for nearly 10% of U.S. greenhouse gas (GHG) emissions and the transportation sector accounts for another 28%, according to the U.S. Environmental Protection Agency. Capturing methane from farm waste lowers these emissions. RNG, produced by that captured methane and used as a transportation fuel, significantly lowers GHG emissions on a lifecycle basis when compared to diesel. This allows RNG to be one of the only transportation fuels to receive a negative carbon-intensity score based on the reduction of emissions at the source and at the vehicle.

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_renewables on X.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about amounts of natural gas expected to be produced or consumed; numbers of vehicles expected to be deployed, fueled, maintained, or financed; the environmental and other benefits of Clean Energy’s fuels; the timing and scope of construction, maintenance, and other projects; and the impacts of legislative and regulatory developments. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231121427458/en/

Media Contact:

Gary Foster

(949) 437-1113

Gary.Foster@cleanenergyfuels.com

Investor Contact:

Thomas Driscoll

949-437-1191

thomas.driscoll@cleanenergyfuels.com

Source: Clean Energy Fuels Corp.

FAQ

What is the ticker symbol for Clean Energy Fuels Corp.?

The ticker symbol for Clean Energy Fuels Corp. is CLNE.

Where is the new renewable natural gas (RNG) station located?

The new station is located at 6820 Quad Avenue in Baltimore.

What are some benefits of renewable natural gas (RNG) for heavy-duty truck fleets?

RNG provides heavy-duty truck fleets access to low carbon, sustainable fuel and significantly lowers greenhouse gas emissions.

How many fueling stations does Clean Energy currently have around North America?

Clean Energy currently has a network of 590 fueling stations around North America.

What is Clean Energy's approach to reducing greenhouse gas emissions in the transportation sector?

Clean Energy is making substantial investments in the production of RNG at dairy farms to lower greenhouse gas emissions.

What challenges does the heavy-duty truck market face in decarbonizing their fleets?

The heavy-duty truck market continues to struggle to find affordable and reliable alternatives to decarbonize their fleets.