Clean Energy Signs Agreement with Amazon for Low and Negative Carbon RNG

Rhea-AI Summary

Clean Energy Fuels Corp. (Nasdaq: CLNE) has entered into an agreement with Amazon to supply low and negative carbon renewable natural gas (RNG) at 27 existing and 19 new or upgraded Clean Energy fueling stations across 15 states. The company, a leader in providing clean transportation fuel, aims to aid efforts against climate change while boosting its infrastructure. CEO Andrew J. Littlefair emphasized the importance of economically viable solutions to environmental issues. Additionally, a warrant has been issued to Amazon as part of this collaboration.

Positive

• Agreement with Amazon enhances Clean Energy's market presence.
• Expansion to 19 new or upgraded fueling stations increases operational capacity.
• RNG supply at 27 existing stations boosts Clean Energy's infrastructure.
• Supports climate change initiatives, aligning with growing environmental demands.

Negative

• None.

Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced that it has signed an agreement with Amazon (Nasdaq: AMZN) to provide low and negative carbon renewable natural gas (RNG). The fuel will be provided at 27 existing Clean Energy fueling stations and another 19 non-exclusive new or upgraded Clean Energy-owned stations that Clean Energy expects to be constructed by the end of the year. The new and existing stations will provide RNG in 15 different states.

“If the world is really going to tackle the issue of climate change, all of us need to find solutions that work both environmentally and economically, and that is exactly what this agreement supports,” said Andrew J. Littlefair, CEO and president of Clean Energy. “Clean Energy was the first to commercially make RNG available as a vehicle fuel in 2013 and now fuels tens of thousands of vehicles across the country every day.”

In addition, the company has issued a warrant to Amazon. For more information, refer to Clean Energy’s Form 8-K.

About Clean Energy

Clean Energy Fuels Corp. is the country’s leading provider of the cleanest fuel for the transportation market. Through its sales of renewable natural gas (RNG), which is derived from biogenic methane produced by the breakdown of 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 from 60% to over 400% depending on the source of the RNG, according to the California Air Resources Board. Clean Energy can deliver RNG through compressed natural gas (CNG) and liquefied natural gas (LNG) to its network of fueling stations across the U.S. Clean Energy builds CNG and LNG fueling stations for the transportation market, operates a network of 565 stations across the U.S. and Canada, owns natural gas liquefaction facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S. For more information, visit www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.

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 benefits of RNG, the number of new and existing stations, and the warrant issued to Amazon. 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/20210419005219/en/

FAQ

What is Clean Energy Fuels Corp.'s recent agreement with Amazon?

Clean Energy Fuels Corp. has signed an agreement with Amazon to supply low and negative carbon renewable natural gas (RNG) to multiple fueling stations.

How many fueling stations will Clean Energy supply RNG to?

Clean Energy will provide RNG at 27 existing stations and 19 new or upgraded stations.

In how many states will Clean Energy's RNG be available?

The RNG will be available across 15 different states.

What is the significance of the RNG agreement for Clean Energy Fuels Corp.?

The agreement supports climate change solutions and enhances Clean Energy's market reach and infrastructure.