Clean Energy and bp Broaden Joint Venture Focused on Renewable Natural Gas Project Development Aimed at Delivering Lower Carbon Intensity Fuels
November 11 2021 - 6:00AM
Business Wire
Clean Energy Fuels Corp. (Nasdaq: CLNE) and bp today announced
that its renewable natural gas (RNG) joint venture will build on
previously announced plans to finance and develop new projects at
dairy farms, starting in the Midwest.
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Located in South Dakota and Iowa, the dairy farms, with more
than 30,000 cows, have the estimated potential to convert the
methane produced from waste into more than seven million gallons of
RNG annually.
Agriculture accounts for nearly 10 percent of U.S. greenhouse
gas (GHG) emissions, according to the U.S. Environmental Protection
Agency. Capturing methane from farm waste can lower these
emissions. RNG is used as a transportation fuel and has lower GHG
emissions on lifecycle basis when compared to conventional gasoline
and diesel. The California Air Resources Board has given similar
projects a carbon intensity (CI) score of weighted average of -320
compared to CI scores of 101 for conventional diesel fuel and 15
for electric batteries.
“The demand for RNG is rapidly growing, highlighted by our
recent announcement to fuel a new fleet of Amazon heavy-duty trucks
deploying across the country,” said Clay Corbus, senior vice
president and co-head of renewable fuels at Clean Energy. “Our
joint venture with bp to develop new supplies is critical to
keeping up with this demand. The RNG that is expected to flow from
these dairies to our fueling infrastructure will allow our
customers to dramatically reduce their carbon emissions and turn
their sustainability goals into reality.”
Dynamic Holdings will oversee construction and develop and
operate the facilities following the execution of an agreement with
the joint venture to execute multiple phases of dairy RNG
projects.
With over 550 dispensing locations, Clean Energy has the largest
network of RNG stations in the U.S. bp’s world-class trading
organization transports RNG to California markets and monetizes the
environmental credits associated with dispensing the RNG.
“These collaborations are critical steps toward our ambition of
helping the world reach net zero by 2050 or sooner,” said Sean
Reavis, bp biogas origination. “Our biogas strategy is focused on
growth and developing an integrated business model that allows us
to deliver the unique energy products the market is demanding.”
The first RNG production facility is expected to be operational
in 2022.
About bp
bp’s ambition is to become a net zero company by 2050 or sooner,
and to help the world get to net zero. bp is America’s largest
energy investor since 2005, investing more than $130 billion in the
economy and supporting about 230,000 additional jobs through its
business activities. For more information on bp in the US, visit
www.bp.com/us.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of
the cleanest fuel for the transportation market. Our mission is to
decarbonize transportation through the development and delivery of
renewable natural gas (RNG), a sustainable fuel derived from
organic waste. Clean Energy allows thousands of vehicles, from
airport shuttles to city buses to waste and heavy-duty trucks, to
reduce their amount of climate-harming greenhouse gas. We operate a
vast network of fueling stations across the U.S. and Canada. Visit
www.cleanenergyfuels.com and follow @CE_NatGas on Twitter.
About Dynamic
Dynamic was founded in 2011 and is a full-service company that
provides leading edge waste recovery solutions for both the
Agricultural and Food Processing Industries. Three of its founding
owners are involved with the daily operations of the business. They
are the driving force of the company by integrating Dynamic's
technology and design into the following areas: landfill diversion,
anaerobic digestion, nutrient concentration, and water treatment.
Dynamic adds a unique value in the field by being experienced, and
knowledgeable in the finance, design, development, operation, and
management of customized world-class infrastructure assets. These
turnkey renewable energy and clean water solutions dispose of
organic waste to impact the economy in environmentally friendly
ways.
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version on businesswire.com: https://www.businesswire.com/news/home/20211111005359/en/
Clean Energy Contact: Raleigh Gerber 949-437-1397
raleigh@cleanenergyfuels.com
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