Announces New RNG Development Partnership with
One of Country’s Largest Dairies
Clean Energy Fuels Corp (Nasdaq: CLNE) executives today will
share the direction and specific activities the company is taking
to grow its renewable natural gas business during an ‘RNG Day’
webcast. Register for the webcast here.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20220126005291/en/
Clean Energy RNG Day presentation shares
direction and specific activities related to its renewable natural
gas (RNG) business. (Graphic: Business Wire)
A copy of the presentation can be found on the “Events and
Presentations” section of the Company’s website at
https://investors.cleanenergyfuels.com. In addition, a replay of
the webcast will be available at the same location for
approximately 60 days following the webcast.
“With carbon reduction up to 500 percent, RNG is the epitome of
renewable energy,” said Andrew J. Littlefair, president and CEO,
Clean Energy. “It presents enormous potential in sustainable
transportation, so we’re focused on a pathway to grow both the
production and distribution of this negative carbon intensity
fuel.”
As part of the presentation, Clean Energy will announce that it
has signed an agreement to construct a methane capture digester at
Millenkamp Dairy in Jerome, Idaho, one of the largest dairy farms
in the U.S. The project is expected to provide an anticipated five
million gallons of very low carbon-intensity RNG annually which
will flow into Clean Energy’s fueling network. The Millenkamp
project will be developed through Clean Energy’s joint venture with
bp.
“‘A Legacy of Trust’ is our motto at Millenkamp and we’ve always
held ourselves to the highest standard in how we manage our cattle
and the dairy,” said Bill Millenkamp, owner of the dairy. “Adding
the ability to produce what can be millions of gallons of clean
fuel reinforces our commitment to sustainability. As a family
business, it’s extremely important to leave a better operation to
the next generation and this new methane capture digester will move
us towards that goal.”
The webcast includes Clean Energy’s five year financial overview
and a summary of opportunities for RNG production and policy
adoption in specific states. It also provides a look at the ways
that RNG, coupled with Clean Energy’s expertise in station
construction and modification, can transition to new clean
technologies in the future.
Following the presentation, Clean Energy executives—including
Andrew Littlefair, CFO Robert Vreeland and an executive from the
company’s Renewables sector—will field investor questions.
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_renewables on Twitter.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements about, among other things, the
anticipated benefits from our agreement with Millenkamp Dairy,
including the expected volume of RNG to be produced and the
expected timing of groundbreaking and completion of the project,
and the advantages of RNG, including its potential in
sustainability transportation.
Forward-looking statements are statements other than historical
facts and relate to future events or circumstances or the Company’s
future performance, and they are based on the Company’s current
assumptions, expectations and beliefs concerning future
developments and their potential effect on the Company and its
business. As a result, actual results, performance or achievements
and the timing of events could differ materially from those
anticipated in or implied by these forward-looking statements as a
result of many factors including, among others: the COVID-19
pandemic and the measures taken to prevent its spread and the
related impact on our operations, liquidity and financial
condition; the willingness of fleets and other consumers to adopt
natural gas as a vehicle fuel, and the rate and level of any such
adoption; 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
potential adoption of government policies or programs or increased
publicity or popular sentiment in favor of other vehicle fuels; the
market’s perception of the benefits of RNG and conventional natural
gas relative to other alternative vehicle fuels; natural gas
vehicle and engine cost, fuel usage, availability, quality, safety,
convenience, design, performance and residual value, as well as
operator perception with respect to these factors, in general and
in the Company’s key customer markets, including heavy-duty
trucking; the Company’s ability to manage and grow its RNG
business, including its ability to procure adequate supplies of RNG
and generate revenues from sales of such RNG; the Company and its
suppliers’ ability to successfully develop and operate projects and
produce expected volumes of RNG; the potential commercial viability
of livestock waste and dairy farm projects to produce RNG; the
Company’s history of net losses and the possibility the Company
incurs additional net losses in the future; the Company’s and its
partners’ ability to acquire, finance, construct and develop other
commercial projects; the Company’s ability to invest in hydrogen
stations or modify its fueling stations to reform its RNG to fuel
hydrogen and electric vehicles; the Company’s ability to realize
the expected benefits from the commercial arrangement with Amazon
and related transactions; future supply, demand, use and prices of
crude oil, gasoline, diesel, natural gas, and other vehicle fuels,
including overall levels of and volatility in these factors;
changes in the competitive environment in which we operate,
including potentially increasing competition in the market for
vehicle fuels generally; the Company’s ability to manage and grow
its business of transporting and selling CNG for non-vehicle
purposes via virtual natural gas pipelines and interconnects, as
well as its station design and construction activities;
construction, permitting and other factors that could cause delays
or other problems at station construction projects; the Company’s
ability to execute and realize the intended benefits of any
acquisitions, divestitures, investments or other strategic
relationships or transactions; future availability of and our
access to additional capital, which may include debt or equity
financing, in the amounts and at the times needed to fund growth in
the Company’s business and the repayment of its debt obligations
(whether at or before their due dates) or other expenditures, as
well as the terms and other effects of any such capital raising
transaction; the Company’s ability to generate sufficient cash
flows to repay its debt obligations as they come due; the
availability of environmental, tax and other government
regulations, programs and incentives that promote natural gas, such
as AFTC, or other alternatives as a vehicle fuel, including
long-standing support for gasoline- and diesel-powered vehicles and
growing support for electric and hydrogen-powered vehicles that
could result in programs or incentives that favor these or other
vehicles or vehicle fuels over natural gas; the Company’s ability
to comply with various registration and regulatory requirements
related to its RNG projects; the effect of, or potential for
changes to greenhouse gas emissions requirements or other
environmental regulations applicable to vehicles powered by
gasoline, diesel, natural gas or other vehicle fuels and crude oil
and natural gas fueling, drilling, production, transportation or
use; the Company’s ability to manage the safety and environmental
risks inherent in its operations; the Company’s compliance with all
applicable government regulations; the impact of the foregoing on
the trading price of the Company’s common stock; and general
political, regulatory, economic and market conditions.
The forward-looking statements made in this press release speak
only as of the date of this press release and the Company
undertakes no obligation to update publicly such forward-looking
statements to reflect subsequent events or circumstances, except as
otherwise required by law. The Company’s periodic reports filed
with the Securities and Exchange Commission (www.sec.gov),
including its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2021, 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, and such risk factors may be amended, supplemented
or superseded from time to time by other reports the Company files
with the Securities and Exchange Commission.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220126005291/en/
Clean Energy Contact: Raleigh Gerber 949-437-1397
raleigh.gerber@cleanenergyfuels.com
Investor Contact: Investors@cleanenergyfuels.com
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