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) is the leading provider of natural gas fuel for transportation in North America. The company fuels over 35,000 vehicles daily at about 500 fueling stations across the United States and Canada. Clean Energy caters to a broad customer base, including sectors like trucking, airport shuttles, taxis, refuse collection, and public transit.
The company specializes in building and operating compressed natural gas (CNG) and liquefied natural gas (LNG) fueling stations. They also manufacture CNG and LNG equipment and technologies for their own use and for other companies. In addition, Clean Energy Fuels develops renewable natural gas (RNG) production facilities, aiming to provide a more sustainable future for transportation.
Clean Energy Fuels Corp. operates primarily in the U.S. and Canada, generating the majority of its revenue from compressed natural gas sales. The company purchases natural gas from local utilities and processes it—either compressing, cooling, or liquefying it—at their own plants. The processed natural gas products are then sold through a network of company-owned or customer-owned fueling stations. This vertically integrated approach helps ensure a reliable supply chain and consistent product quality.
In recent years, Clean Energy has made significant strides in expanding its RNG production facilities, tapping into an innovative and eco-friendly fuel source derived from organic waste. This RNG initiative aligns with global sustainability goals and provides a renewable alternative to traditional fossil fuels.
Furthermore, the company maintains strategic partnerships and collaborations with key industry players and governmental bodies, enhancing its market reach and technological capabilities. Financially, Clean Energy continues to capitalize on the growing demand for cleaner transportation solutions.
For those interested in exploring career opportunities with Clean Energy Fuels Corp., please visit their official careers page at Clean Energy Careers.
Clean Energy Fuels Corp. (CLNE) has opened a new renewable natural gas (RNG) fueling station in
Clean Energy Fuels Corp. (NASDAQ: CLNE) has launched a renewable natural gas (RNG) station in Bellefonte, PA, for the Centre County Recycling and Refuse Authority (CCRRA). This station will provide RNG to help fleets reduce carbon emissions, achieving an anticipated annual dispensing of 500,000 gallons. The switch from conventional natural gas to RNG is projected to cut carbon emissions by 3,696 metric tons yearly, equating to removing 803 cars from the road. Clean Energy aims to provide RNG at all stations by 2025, further promoting sustainability in the transportation sector.
Clean Energy Fuels Corp. (NASDAQ: CLNE) reported strong third-quarter results with revenue reaching $125.7 million, up from $86.1 million in Q3 2021. This growth is driven by a 28.2% increase in renewable natural gas (RNG) sales, totaling 54.1 million gallons. The Inflation Reduction Act's extension of the alternative fuel tax credit significantly boosted revenue, generating $16.1 million from this source. However, the company experienced a net loss of $(9.0) million for the quarter, impacted by $7.0 million in Amazon warrant charges.
Clean Energy Fuels Corp. (CLNE) will announce its third quarter 2022 financial results on November 8, 2022, following which an investor conference call will take place at 4:30 p.m. Eastern time. CEO Andrew J. Littlefair and CFO Robert M. Vreeland will lead the discussion. Investors can join the live conference by calling 1.800.458.4121 or 1.646.828.8193 for international calls. A replay will be available for a month. Clean Energy Fuels focuses on providing renewable natural gas (RNG) to decarbonize transportation, benefiting various vehicle types across the U.S. and Canada.
Clean Energy Fuels Corp. celebrates the opening of its new renewable natural gas (RNG) station in Groveport, Ohio, marking the first of 19 stations under agreement with Amazon. This facility aims to supply RNG for Amazon's trucks and other local fleets, promoting sustainability.
By dispensing about 700,000 gallons of RNG annually, it is projected to reduce carbon emissions significantly. Additionally, the station is part of larger efforts to develop RNG production from organic waste, including dairy farm collaborations.
Clean Energy Fuels Corp. (NASDAQ: CLNE) successfully supplied liquified natural gas (LNG) for the first bunkering of Pasha Hawaii’s new container ship, MV George III, marking a significant milestone on the U.S. West Coast. Clean Energy collaborated with World Fuel Services and West Coast Clean Fuels to deliver over 300,000 gallons of LNG. The MV George III, along with two other planned LNG-powered vessels, is projected to consume 105 million gallons of LNG over five years. The expansion of Clean Energy's Boron, CA LNG plant is set to increase its production capacity by 50%.
Clean Energy Fuels Corp. (NASDAQ: CLNE) has announced new supply agreements for renewable natural gas (RNG), highlighting its commitment to meet the increasing demand for sustainable fuel sourced from organic waste. Notable deals include a 1.2 million gallon contract with California Transportation Dynamics and a multi-year deal with the City of Claremont for 400,000 gallons. Additionally, Clean Energy is advancing RNG production through joint ventures with TotalEnergies and bp, with projects underway in multiple states expected to produce over 10 million gallons annually.
The U.S. Senate has passed legislation extending the Alternative Fuel Tax Credit for three years, retroactively effective from January 1, 2022. Clean Energy Fuels Corp. (NASDAQ: CLNE) supports this bill, which encourages the use of renewable natural gas (RNG). Key provisions include a $0.50 per gallon fuel credit for RNG, a 30% investment tax credit for qualified biogas projects, and an extended Alternative Fuel Vehicle Refueling Property Credit increased from $30,000 to $100,000. This legislation aims to boost RNG production and investment.
Clean Energy Fuels Corp. (CLNE) reported second-quarter 2022 results, with revenues reaching $97.2 million, a significant increase from $0.5 million in Q2 2021. Fuel volume delivered rose to 106.9 million gallons, up 5.4% year-over-year. Renewable natural gas (RNG) deliveries increased 16.6% to 50 million gallons. While the net loss narrowed to $(13.2) million from $(79.7) million in the same period last year, challenges remain due to the expiration of the alternative fuel tax credit. The company is on track with RNG investments and new station constructions for Amazon.
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