Clean Energy Awarded Two LNG Supply Contract Renewals in Phoenix
July 10 2008 - 8:30AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq:CLNE) received a one-year LNG
(liquefied natural gas) supply contract renewal to serve the City
of Tempe (Tempe Transit) and the Regional Public Transit Authority
(RPTA) through a contract with the City of Phoenix, effective July
1, 2008. Clean Energy had been supplying LNG fuel to these agencies
previously under a long-term contract with the City of Phoenix. The
City of Phoenix recently issued an RFP for LNG supply for itself,
Tempe and the RPTA, then awarded the contract to another supplier.
The competing supplier bid to supply the LNG at a price difference
of $0.02 per gallon less than Clean Energy�s bid. Subsequently,
Tempe and the RPTA decided to opt out of the combined award, and
the City of Phoenix elected to award the portion of the contract
that supplies Tempe and the RPTA, in favor of Clean Energy. The
anticipated annual revenue from the portion of the contract awarded
to Clean Energy is approximately $6.7 million. �We are pleased to
continue our supply relationship with Tempe and the RPTA where we
have provided reliable, cost-efficient fueling services for five
years, ensuring those agencies and their riders that their buses
roll out daily to meet community transportation needs,� said Andrew
J. Littlefair, Clean Energy�s President and CEO. �Reliable fuel
supply is a critical factor for transit agencies and we have worked
hard to be the leader in the field.� Clean Energy has the largest
supply of LNG in the western United States, including sourcing
contracts with six LNG plants. The Company also operates its own
LNG plant near Houston, Texas. When Clean Energy�s new California
LNG Plant becomes operational in fall 2008, it will provide up to
160,000 gallons of LNG per day and have over 1.5 million gallons of
LNG storage, providing a large buffer to cover any potential plant
or other supply interruptions. The Company has also announced a
long-term contract to purchase LNG from a new plant being built
near the California-Arizona border. Clean Energy (Nasdaq:CLNE) is
the leading provider of natural gas (CNG and LNG) for
transportation in North America. It has a broad customer base in
the refuse, transit, ports, shuttle, taxi, trucking, airport and
municipal fleet markets, fueling more than 14,000 vehicles daily at
strategic locations across the United States and Canada. Clean
Energy del Peru, Clean Energy�s Peruvian joint venture, operates
the world�s largest natural gas vehicle fueling station in Lima,
Peru. Information at: 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 statements made
with respect to the timing of the Company�s LNG plant startup in
Southern California, the amount of LNG fuel produced at the plant
and the future performance of the Company under supply contracts.
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 the company undertakes no obligation to
publicly update such forward-looking statements to reflect
subsequent events or circumstances.
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