Clean Energy to Make More Carbon-Negative Fuel Available for Transportation with bp
December 21 2020 - 11:12AM
Business Wire
bp to Provide $50 million for Development
and Construction of Renewable Natural Gas Production
Facilities
Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced plans
that it will work with BP Products North America Inc., a subsidiary
of BP p.l.c. (NYSE: BP), to develop, own and operate new renewable
natural gas (RNG) facilities at dairies and other agriculture
facilities that will produce one of the cleanest fuels in the
world.
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the full release here:
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Carbon emissions captured from dairies and turned into a
transportation fuel reduce the harmful effects on long-term climate
change. As a result, the California Air Resources Board gives these
carbon-negative RNG projects a CI Score (gCO2e/MJ) of -250 (or
lower) compared to 97 for diesel and 46 for electric batteries. The
demand for this carbon-negative fuel has significantly accelerated
over the last few years. Some of the largest heavy-duty fleets in
the world such as UPS, Republic Services, New York Metropolitan
Transportation Authority and LA Metro, among others, are currently
and successfully operating tens of thousands of vehicles on
RNG.
Clean Energy is the largest provider of RNG as a transportation
fuel in the United States and Canada, the largest RNG fuel provider
under the California LCFS program and currently has a joint RNG
marketing agreement with bp established in 2018. In addition to the
carbon-negative fuel, Clean Energy will continue to source RNG from
other providers to supply its network of 550 fueling stations in
North America and maintain its leadership position in the
California LCFS market. This also marks another strong step in
Clean Energy’s ambition to meet the rapidly growing demand by
customers for carbon-negative RNG and to deliver 100% Redeem™
branded RNG to its entire fueling infrastructure by 2025, which
Clean Energy is well on its way to achieving.
“Carbon-negative RNG is being used today by thousands of
vehicles with more and more fleets requesting it every week,” said
Andrew J. Littlefair, CEO and president of Clean Energy. “Taking
this next step allows us to expand the availability of the fuel
while providing dairy owners with a way to make a significant
impact on the environment and create an additional revenue
stream.”
Clean Energy has made noteworthy commitments to transforming the
way the transportation industry powers vehicles to have less of an
impact on long-term climate change and believes the use of
carbon-negative RNG is the most immediate, cost-effective and has
the greatest effect of any alternative. Clean Energy has already
identified potential RNG-producing projects and has plans to deploy
funds for development and construction expenses in 2021.
For more information, refer to Clean Energy’s Form 8-K.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of the cleanest
fuel for the transportation market in the United States and Canada.
Through its sales of Redeem™ renewable natural gas (RNG), which is
derived from capturing biogenic methane produced from decomposing
organic waste, Clean Energy allows thousands of vehicle fleets,
from airport shuttles to city buses to waste and heavy-duty trucks,
to reduce their amount of climate-harming greenhouse gas by at
least 70% and even up to 300% depending on the source of the RNG.
Clean Energy can deliver Redeem through compressed natural gas
(CNG) and liquified natural gas (LNG) to its network of
approximately 540 fueling stations across the U.S. and Canada.
Clean Energy builds and operates CNG and LNG fueling stations for
the transportation market, owns natural gas liquefication
facilities in California and Texas, and transports bulk CNG and LNG
to non-transportation customers around the U.S. For more
information, visit www.CleanEnergyFuels.com.
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 that involve
risks, uncertainties and assumptions, such as statements regarding,
among other things: the completion and timing of the JV; Clean
Energy’s plans for its RNG business; increased market adoption of
carbon-negative RNG as a vehicle fuel; growth in Clean Energy’s
customer base for its Redeem™ RNG vehicle fuel; the strength of
Clean Energy’s vehicle fueling infrastructure and its ability to
leverage this infrastructure to increase sales of Redeem™ vehicle
fuel and to deliver 100% Redeem™ branded RNG to its entire fueling
infrastructure by 2025; the benefits of RNG as an alternative
vehicle fuel, including economic and environmental benefits; and
growth in and certainty of supply of RNG. Actual results and the
timing of events could differ materially from those expressed in or
implied by these forward-looking statements as a result of a
variety of factors, including, among others: Clean Energy’s and
BP’s ability to close the JV on the timeline anticipated or at all;
supply, demand, use and prices of crude oil, gasoline, diesel,
natural gas and alternative fuels, as well as heavy-duty trucks and
other vehicles powered by these fuels; the willingness of fleets
and other consumers to adopt RNG as a vehicle fuel; and general
economic, political, regulatory, market and other conditions. The
forward-looking statements made in this press release speak only as
of the date of this press release and Clean Energy undertakes no
obligation to update publicly such forward-looking statements to
reflect subsequent events or circumstances, except as otherwise
required by law. Additionally, the reports and other documents
Clean Energy files with the SEC (available at www.sec.gov) contain
additional information on 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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version on businesswire.com: https://www.businesswire.com/news/home/20201221005561/en/
Clean Energy Contact: Raleigh Gerber 949-437-1397
raleigh.gerber@cleanenergyfuels.com
Investor Contact: investors@cleanenergyfuels.com
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