Clean Energy Opens Renewable Natural Gas Station in Philadelphia - South Jersey Area to Serve Fleets

Rhea-AI Summary

Clean Energy Fuels Corp. (NASDAQ: CLNE) has inaugurated a new renewable natural gas (RNG) station in Carney’s Point, New Jersey, aimed at serving heavy-duty truck fleets. Located strategically between Philadelphia and Wilmington, DE, near Interstate 295 and the New Jersey Turnpike, the station is part of Clean Energy's extensive network of over 600 fueling stations across North America. The facility, situated on five acres, features two fast-fill dispenser lanes, facilitating quick refueling. This launch aligns with the introduction of the Cummins X15N, a 15-liter natural gas engine being employed by major fleets like Walmart and UPS. The station supports Clean Energy's mission to decarbonize the transportation sector, providing a cleaner fuel alternative with RNG derived from organic waste, which has a negative carbon-intensity score by the California Air Resources Board. Clean Energy also highlights its investments in RNG production at dairy farms to reduce greenhouse gas emissions significantly.

Positive

• Opening of a new RNG station in Carney’s Point, NJ.
• Strategic location between Philadelphia and Wilmington, DE.
• Part of a larger network of over 600 fueling stations in North America.
• Supports the use of Cummins X15N, a new 15-liter natural gas engine.
• Facility features two fast-fill dispenser lanes for efficient refueling.
• RNG has a negative carbon-intensity score by the California Air Resources Board.
• Investments in RNG production at dairy farms to lower greenhouse gas emissions.

Negative

• None.

Insights

Market Research Analyst

Clean Energy Fuels Corp. is expanding its network with a new renewable natural gas (RNG) station in Carney’s Point, NJ. This move is significant as it enhances the availability of RNG, a fuel derived from organic waste, which is environmentally beneficial.

An important insight for investors is the station's strategic location. Being situated in a vital trucking corridor between Philadelphia and Wilmington makes it accessible to heavy-duty fleets, potentially increasing adoption rates. This could lead to a steady revenue stream, reflecting positively on future earnings.

Moreover, Clean Energy’s customer base, including Walmart and UPS, indicates strong and reliable demand. The introduction of Cummins X15N natural gas engine aligns well with this development, potentially accelerating the uptake of RNG in the market.

In the short term, investors might watch for increased fuel sales at this station and the potential positive impact on quarterly earnings. Long-term, this addition solidifies Clean Energy's commitment to sustainable fuel, positioning it advantageously in a growing market.

Environmental Scientist

The opening of the Carney’s Point RNG station is noteworthy in terms of environmental impact. RNG is produced from organic waste, significantly reducing greenhouse gas emissions compared to conventional diesel. This aligns with broader sustainability goals and could attract environmentally conscious investors.

Understanding the lifecycle of RNG is crucial. From capturing methane at the farm level to its use as a clean fuel, the entire process emits significantly lower GHGs. The Carney’s Point station is part of a larger effort to decarbonize transportation, a sector that accounts for 28% of U.S. GHG emissions.

In addition, RNG's recognition by the California Air Resources Board with a negative carbon-intensity score underscores its potential in mitigating climate change. This makes Clean Energy a key player in the transition to sustainable energy solutions.

Carney’s Point Station to Provide Clean, Lower-carbon RNG and is Part of Growing National Fueling Network for Heavy-Duty Fleets

CARNEY’S POINT, N.J.--(BUSINESS WIRE)-- Clean Energy Fuels Corp. (NASDAQ: CLNE) announced the opening of a new renewable natural gas (RNG) station in Carney’s Point, New Jersey for heavy-duty trucks and other fleet vehicles to access a fuel produced from organic waste and is rated the cleanest available.

Clean Energy's Carney's Point RNG Station (Photo: Business Wire)

The new station is strategically located in the important trucking corridor between Philadelphia and Wilmington, DE near Interstate 295 and the New Jersey Turnpike and is now part of Clean Energy’s fueling network of over 600 stations in North America.

“The Carney’s Point station gives fleets that operate in the Philadelphia and South Jersey area access to a much cleaner alternative fuel,” said Chad Lindholm, Senior Vice President at Clean Energy. “One of the benefits of RNG is that it’s available in significant quantities today and is already helping to decarbonize the heavy-duty vehicle market. We are pleased to provide truck fleets a convenient location in this important corridor with an ultra-low carbon fueling experience.”

The timing of the opening of the new state-of-the-art station coincides with the introduction of Cummins X15N, a 15-liter natural gas engine that is currently being used by Walmart, Knight Swift, UPS and other heavy-duty truck fleets. The multi-million dollar station which sits on five acres is located at 5 Schoolhouse Road in Carney’s Point, NJ, has two fast-fill dispenser lanes for easy in-and-out fueling of RNG, and turns the south New Jersey area into a hub for clean, sustainable fueling.

Clean Energy currently has a significant customer base in the Philadelphia/South New Jersey area, fueling fleets such as South Jersey Gas, Atlantic City Jitney Association, Wally Park at Philadelphia International Airport, Waste Management, and the refuse operation of the City of Philadelphia.

Clean Energy is also investing in the production of RNG at dairy farms. Agriculture accounts for nearly 10 percent of U.S. greenhouse gas (GHG) emissions and the transportation sector accounts for another 28%, according to the EPA. Capturing methane from farm waste lowers these emissions. RNG transportation fuel produced by that methane 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 by the California Air Resources Board 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 by capturing methane 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 as well as RNG production facilities at dairy farms. Visit www.cleanenergyfuels.com and follow @ce_renewables on X and LinkedIn.

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: the amounts and timing of renewable natural gas expected to be produced or consumed; the timing and scope of construction, maintenance, and other projects; the numbers and timing of vehicles expected to be deployed, fueled, maintained, or financed; the characteristics and performance of natural gas engines and trucks; the potential development of the consumer market for RNG; the environmental and other benefits of Clean Energy’s fuels; the availability of environmental, tax and other government regulations, programs and incentives; 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/20240625901215/en/

Media Contact:

Kimberly Fleer

1-949-437-1447

Kimberly.Fleer@cleanenergyfuels.com

Investor Contact:

Thomas Driscoll

1-949-437-1191

Thomas.Driscoll@cleanenergyfuels.com

Source: Clean Energy Fuels Corp.

FAQ

What is the significance of Clean Energy's new RNG station in Carney’s Point, NJ?

The new RNG station is strategically located to serve heavy-duty truck fleets in the Philadelphia and South Jersey area, providing a cleaner fuel alternative and supporting the decarbonization of the transportation sector.

How many fueling stations does Clean Energy operate in North America?

Clean Energy operates a network of over 600 fueling stations across North America.

What is the Cummins X15N engine?

The Cummins X15N is a 15-liter natural gas engine currently used by major fleets such as Walmart, Knight Swift, and UPS.

Where is the new RNG station located?

The new station is located at 5 Schoolhouse Road in Carney’s Point, New Jersey.

What are the environmental benefits of RNG according to Clean Energy?

RNG significantly lowers greenhouse gas emissions on a lifecycle basis compared to diesel, with a negative carbon-intensity score by the California Air Resources Board.

Which companies are part of Clean Energy's customer base in the Philadelphia/South New Jersey area?

Customers include South Jersey Gas, Atlantic City Jitney Association, Wally Park at Philadelphia International Airport, Waste Management, and the City of Philadelphia.