Welcome to our dedicated page for Clean Energy Fuels news (Ticker: CLNE), a resource for investors and traders seeking the latest updates and insights on Clean Energy Fuels stock.
Clean Energy Fuels Corp (CLNE) delivers renewable natural gas (RNG) and low-carbon fueling solutions for commercial transportation. This news hub provides investors and industry stakeholders with essential updates on the company's strategic initiatives, operational developments, and market leadership in sustainable energy.
Access official press releases, financial announcements, and operational milestones covering key areas including RNG production expansion, fueling infrastructure growth, and partnerships with transportation fleets. Our curated collection helps track Clean Energy's progress in decarbonizing heavy-duty transport sectors through innovative natural gas solutions.
Discover updates on regulatory compliance achievements, technology innovations in fuel processing, and sustainability certifications. The resource serves professionals needing to monitor Clean Energy's position within evolving energy transition policies and competitive alternative fuel markets.
Bookmark this page for direct access to verified CLNE developments, including quarterly financial results, contract awards with municipal transit systems, and advancements in waste-to-RNG projects. Stay informed about the company's role in shaping North America's clean transportation infrastructure.
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.
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