Clean Energy Announces Its Customers and Government Agency Partners Awarded $34 Million in DOE Stimulus Grants
August 27 2009 - 8:00AM
Business Wire
The U.S. Department of Energy (DOE) has announced the award of
$34 million (11% of total funding by the DOE) to customers and
government agency partners of Clean Energy Fuels Corp.
(Nasdaq:CLNE) to offset the incremental cost of more than 800 new
clean-burning natural gas-powered taxis, shuttle buses, refuse
trucks and heavy-duty trucks.
The DOE awards will also open new markets in several states by
helping to defer the cost of building 11 new natural gas fueling
stations. In addition, as part of additional DOE funding directed
toward the development of natural gas fueling stations and purchase
of natural gas vehicles, there is further opportunity to add
markets and new stations throughout the country.
Overall, the Department of Energy selected 25 cost-sharing
alternative fuel projects to receive a total of nearly $300 million
from funds allotted by the American Recovery and Reinvestment Act.
These projects will speed the transformation of the nation’s
vehicle fleet, putting more than 9,000 alternative fuel and energy
efficient vehicles on the road, and establish a larger network of
fueling locations across the country, according to a DOE news
release.
DOE Secretary Steven Chu commented, “Advancing the number of
alternative fuel and advanced technology vehicles on the road will
increase our energy security, decrease our dependence on oil, and
reduce pollution across the country.”
“These DOE grants serve to accelerate the deployment of natural
gas vehicles around the country, spurring demand for this proven
vehicle technology,” said Andrew J. Littlefair, Clean Energy
President and CEO. “The natural gas infrastructure development and
vehicle acquisition awards will result in significant air quality
benefits as harmful emissions are reduced, and help decrease our
dependence on foreign oil.”
As a service to its clients, Clean Energy's in-house Grants
Department provided assistance with identifying, applying for and
securing this grant funding. Over time, Grants Department efforts
have helped secure more than $149 million in grant funding for
Clean Energy and its customers.
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 17,200 vehicles at 184 strategic locations across the United
States and Canada. Clean Energy owns and operates two LNG
production plants, one in Willis, TX and one in Boron, CA, with
combined capacity of 260,000 LNG gallons per day and designed to
expand to 340,000 LNG gallons per day as demand increases. It also
owns and operates a landfill gas facility in Dallas, TX that
produces renewable methane gas or biogas for delivery in the
nation’s gas pipeline network. Please 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 statements about the anticipated number of natural gas
vehicles and stations that may be funded through the grant awards.
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 the timing of grant funding,
permitting of station projects and the availability and performance
of natural gas vehicles. 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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