Clean Energy Fuels Corp - CLNE STOCK NEWS

Clean Energy Fuels (NASDAQ: CLNE) announced the opening of two new renewable natural gas (RNG) fueling stations in San Bernardino and Perris, California.

Strategically located near major transportation hubs, these stations aim to support heavy-duty trucks and other fleet vehicles in reducing carbon emissions. The new facilities coincide with the launch of Cummins' X15N engine, a 15-liter engine powered by RNG that has received positive feedback from major fleets like UPS and Walmart. The X15N can reduce carbon emissions by over 300% and NOx emissions by 90% compared to diesel engines.

Clean Energy now operates over 600 RNG stations across the U.S. and Canada, and is investing heavily in RNG production from dairy farms to ensure a steady supply of low-carbon fuel. RNG is touted for its ability to significantly lower greenhouse gas emissions.

Cemex has signed a renewable natural gas (RNG) fuel agreement with Clean Energy Fuels Corp. (NASDAQ: CLNE) to power 39 of its ready-mix and cement bulk trucks in Southern California. This partnership will provide roughly 300,000 gallons of RNG annually, significantly reducing greenhouse gas emissions by approximately 8,822 metric tons of CO2e each year. Clean Energy will also build and manage a new private fueling station for Cemex in Rialto, CA, expected to be operational by year-end. This initiative supports Cemex's Future in Action program, aiming for net-zero CO2 emissions by 2050.

The U.S. Senate introduced Bill S. 4389, providing a $1.00 per gallon tax credit for using renewable natural gas (RNG) as a transportation fuel. This bill, backed by Senators Mark Warner and Thom Tillis, follows a similar House bill by Representatives Linda Sanchez and Brian Fitzpatrick. Clean Energy Fuels Corp. (NASDAQ: CLNE) CEO Andrew J. Littlefair supports the bill, highlighting RNG's growing acceptance in heavy-duty vehicle fleets and its potential to significantly reduce greenhouse gas emissions. RNG production benefits the agricultural industry, particularly dairies, and creates rural jobs. The bill seeks to further boost RNG's adoption, leveraging existing RNG infrastructure and new RNG-compatible engines from Cummins.

Clean Energy Fuels and Maas Energy Works have announced a joint venture to build nine renewable natural gas (RNG) production facilities at dairy farms across seven states, including Colorado, South Dakota, Georgia, Florida, Iowa, Nebraska, and New Mexico. This project aims to handle manure from around 35,000 cows, preventing methane emissions from being released into the atmosphere.

Each of these nine projects will undergo diligence before construction, with completion expected by 2026. These facilities are anticipated to produce up to 4 million gallons of RNG annually, which will be distributed through Clean Energy's network. The facilities will use lagoon cover digesters to capture methane more cost-effectively compared to traditional tank digesters.

Financed by Clean Energy, the total projected cost is approximately $130 million. The joint venture leverages Maas Energy Works' expertise in RNG development and Clean Energy's distribution network to supply clean fuel to transportation fleets, helping them achieve sustainability goals.

Clean Energy reported revenue of $103.7 million and 58.0 million RNG gallons sold in the first quarter of 2024. The net loss was $(18.4) million compared to $(38.7) million in Q1 2023. Adjusted EBITDA was $12.8 million, and cash reserves were $248.9 million as of March 31, 2024. Operational highlights include increased RNG gallons sold, new fueling stations in Texas, and progress on dairy farm RNG projects.

Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced the successful completion of its renewable natural gas (RNG) facility at Victory Farms Dairy in South Dakota, producing ultra-low carbon RNG for the transportation market. The facility processes 120,000 gallons of manure daily from 6,000 jersey cows to produce an estimated 900,000 gallons of negative carbon-intensity RNG annually. This RNG will be used to fuel commercial fleets, helping to significantly reduce greenhouse gas emissions. Clean Energy's partnership with Dynamic Renewables and investment of $26 million in the facility showcases its commitment to decarbonizing transportation and creating sustainable solutions for the environment.

Clean Energy Fuels Corp. (CLNE) will report Q1 2024 financial results on May 9, 2024, followed by an investor conference call hosted by CEO Andrew J. Littlefair and CFO Robert M. Vreeland. Investors can participate via phone or webcast.

Clean Energy Fuels Corp. appoints Patrick J. Ford to its Board of Directors, bringing extensive finance and accounting experience from his tenure at KPMG LLP. Ford's expertise in the energy industry aims to guide Clean Energy's strategy and promote renewable fuels like RNG for commercial transportation.

Clean Energy Fuels Corp. announced its Q4 2023 operating results with revenue of $106.9 million, a net loss of $(18.7) million, and Adjusted EBITDA of $21.2 million. The company highlighted RNG production projects, financial strength, and a $300 million term loan. The 2024 outlook includes a projected GAAP net loss of $(111) million to $(101) million and Adjusted EBITDA of $62 million to $72 million.