Clean Energy Fuels Corp.’s (Nasdaq: CLNE) today announced that
it has added two senior executives from Total S.A. (CAC: TOTF. PA)
to its Board of Directors. The appointment of Momar Nguer,
President of Total Marketing Services S.A. (TMS), a wholly owned
subsidiary of Total, and Philippe Montantême, Senior Vice
President, Strategy Marketing Research of TMS, is effective
immediately. Total, one of the largest energy companies in the
world, purchased a 25% stake in Clean Energy through Total
Marketing in June of this year.
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Momar Nguer, President of Total Marketing
Services S.A. (TMS) (Photo: Business Wire)
Clean Energy also announced that the co-founder of the company,
T. Boone Pickens, notified the board that he has decided to retire
as a director as part of his recent curtailment in his business
activity. The board of directors voted to designate Mr. Pickens
Director Emeritus, which will entitle him to attend future Board
meetings.
“Clean Energy is incredibly fortunate to have had the
entrepreneurial leadership for the last 23 years of one of
history’s great wildcatters in Boone. His vision in the
establishment of and continued contribution to Clean Energy and its
successes is hard to measure,” said Andrew J. Littlefair, president
and CEO of Clean Energy. “But as the company has moved into its own
leadership position in the alternative fuel market, we will benefit
greatly from the guidance and counsel of two seasoned executives of
one of the world’s most visionary energy companies in Momar and
Philippe.”
“There remains no greater believer in the potential of natural
gas as a heavy-duty fuel than me,” said Pickens, who turned 90
earlier this year. “I’m grateful for the recognition Clean Energy
has given me. This transition to Director Emeritus will allow me to
more fully focus on recovering from some recent health setbacks. I
plan on staying involved with the company. In stepping back a bit,
I’m confident in the company’s great leadership and that its new
partnership with Total will be pivotal to its long-term
success.”
“As a global energy player, Total is particularly excited by the
role natural gas is playing in transportation, particularly the
heavy-duty market,” said Mr. Nguer. “Philippe and I look forward to
working with our fellow Clean Energy Board members and its
executive team to deepen the relationship so that we can leverage
the strengths of the two companies to grow the natural gas fueling
market.”
Mr. Nguer, 62, currently serves as President of TMS and as a
member of the Executive Committee of the Total group of companies
(referred to as the Total Group). He joined the Total Group in
1984, serving in various downstream positions. Mr. Nguer was
appointed to his current positions with Total and TMS in April
2016. He has also served as a member of the Total Group’s
Performance Management Committee since January 2012, and Chairman
of the Group Diversity Council since August 2015. Mr. Nguer
received a Master in Public Law from the University of Paris and a
MBA from ESSEC Business School.
Mr. Montantême, 58, currently serves as Senior Vice President,
Strategy Marketing Research of TMS. He joined the Total Group in
1984 and served in various operational positions in France and
Africa. In July 2013, he was appointed to his current position with
Total Marketing. He graduated as a Chemical Engineer from the École
Nationale Supérierure de Chimie in Toulouse and also holds an MBA
from the EM Lyon Business School.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of natural gas
fuel and renewable natural gas (RNG) fuel for transportation in the
United States and Canada, with a network of approximately 530
stations across North America that we own or operate. We build and
operate compressed natural gas (CNG) and liquefied natural gas
stations (LNG) stations and deliver more CNG, LNG and RNG vehicle
fuel than any other company in the United States. Clean Energy
sells Redeem™ RNG fuel and believes it is the cleanest
transportation fuel commercially available, reducing greenhouse gas
emissions by up to 70%. Clean Energy owns natural gas liquification
facilities in California and Texas which produces LNG for the
transportation and other markets. For more information,
visit www.CleanEnergyFuels.com.
Cautionary Note regarding Forward-Looking Statements
This press 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, including
statements about, among other things: the impact of the company’s
relationships with Total, including the director appointments
described in this press release, on the company and its business;
the company’s leadership position in the alternative fuels market;
the company’s ability to achieve long-term success; the role of
natural gas in the transportation market, particularly the
heavy-duty market; the growth of the natural gas fueling market and
the impact on this growth of the company’s partnership with
Total.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause actual achievements,
performance or other events to be materially different from any
future achievements, performance or other events expressed or
implied by the forward-looking statements. Factors that might cause
or contribute to such differences include, among others: future
supply, demand, use and prices of crude oil, gasoline, diesel,
natural gas, other vehicle fuels, and heavy-duty trucks and other
vehicles and engines powered by these fuels, including overall
levels of and volatility in these factors; the willingness of
fleets and other consumers to adopt natural gas as a vehicle fuel,
and the rate of any such adoption; the company’s ability to execute
its strategic initiatives related to the market for natural gas
heavy-duty trucks, one of the Company’s target customer markets,
and the impact of these initiatives on company and its industry;
the company’s ability to capture a substantial share of the market
for alternative vehicle fuels and vehicle fuels generally and
otherwise compete successfully in these markets; the company’s
ability to execute and realize the intended benefits of any large
or strategic measures, transactions or relationships, including,
for example, the investment by Total in the company and the
company’s other relationships with this organization; the company’s
ability to accurately predict natural gas vehicle fuel demand in
the geographic and customer markets in which it operates and
effectively calibrate its strategies, timing and levels of
investments to be consistent with this demand; the company’s
ability to manage and grow its RNG business; changes to federal,
state or local greenhouse gas emissions regulations or other
environmental regulations applicable to natural gas production,
transportation or use, including regulations governing
environmental, tax and other government programs and incentives
that promote natural gas or other alternatives as a vehicle fuel;
and general political, regulatory, economic, market and other
conditions.
As a result of these and other potential risks and
uncertainties, the forward-looking statements made in this press
release should not be relied on or viewed as predictions of future
events. All forward-looking statements in this press release are
made only as of the date of this press release and, except as
required by law, the company undertakes no obligation to update
publicly any forward-looking statements for any reason, including
to conform these statements to actual results or to changes in
expectations. Additionally, the reports and other documents the
company files with the Securities and Exchange Commission (SEC),
available at www.sec.gov, contain additional information about
these and other risk factors that may cause actual results to
differ materially from the forward-looking statements contained in
this press release.
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Clean Energy Contact:Raleigh
Gerber949-437-1397raleigh.gerber@cleanenergyfuels.comorInvestor
Contact:investors@cleanenergyfuels.com
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