Clean Energy’s Redeem™ Sales Reports Double Digit Growth in 2017; Continues Position as North America’s Largest Provid...
January 26 2018 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) announced
today that sales of Redeem™, its renewable natural gas (RNG)
offering and the cleanest fuel commercially available
today, grew by 32% in 2017, from 60 million gallons in 2016 to
79 million gallons in 2017. The 2017 volume from
Clean Energy represents over half of the overall United States
RNG production as reported by the Environmental Protection Agency
through December.
“We are the leading provider of RNG in North America and as
more fleets seek out the economic and environmental benefits of RNG
as a vehicle fuel, we are well positioned to maintain and
increase that lead in 2018,” said Tyler Henn, vice
president and general manager of Clean Energy
Renewables. “Programs such as the Low Carbon Fuel Standard
(LCFS) and Renewable Fuel Standard (RFS) continue to provide a path
for RNG production growth which allows fleets to meet greenhouse
gas reduction goals and we have the product and
the infrastructure to help them reach those goals.”
Clean Energy also announced today that it had been
awarded a three-year Redeem™ RNG fueling
agreement with North County Transit District (NCTD),
the public transportation provider in North San Diego
County, California, servicing 11 million passengers annually. The
contract calls for Clean Energy to provide 1.5 million gasoline
gallon equivalents (GGEs) per year to NCTD’s fleet of 167
buses.
Clean Energy launched Redeem in 2013 in California and sold 14
million GGEs that year. Today it is sold
in 20 states to refuse customers like Republic Services,
transit customers like LA Metro and Santa Monica Big Blue Bus,
airport customers like Dallas/Fort Worth International and trucking
customers like Ryder and Kroger.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of natural gas
fuel and renewable natural gas (RNG) fuel for transportation in
North America. We build and operate compressed natural gas (CNG)
and liquefied natural gas stations (LNG) and deliver more CNG, LNG
and RNG vehicle fuel than any other company in the U.S. Clean
Energy sells Redeem RNG fuel and believes it is the cleanest
transportation fuel commercially available, reducing greenhouse gas
emissions by up to 70%. For more information,
visit www.CleanEnergyFuels.com.
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 Redeem relative to other fuels,
the anticipated growth in Clean Energy’s Redeem fuel sales and the
amount of Redeem NCTD will consume. Actual results and the timing
of events could differ materially from those anticipated in these
forward-looking statements as a result of several factors,
including, without limitation, conditions at RNG production
facilities, the cost and operating experience associated with
natural gas vehicles and changes to federal and state programs that
help make production and distribution of Redeem cost-effective. 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180126005123/en/
Clean Energy Media Contact:Jason Johnston,
949-437-1411jason.johnston@cleanenergyfuels.comorClean Energy
Investor Contact:Tony Kritzer,
949-437-1403tkritzer@cleanenergyfuels.com
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