Clean Energy Fuels Corp Stock Price, News & Analysis

Clean Energy Fuels Corp. (Nasdaq: CLNE) has opened an expanded renewable natural gas (RNG) fueling station in Carson, California. The station, owned by Los Angeles County Sanitation Districts and operated by Clean Energy, will serve public vehicles, transit buses, waste haulers, and trucks. The facility dispenses RNG produced from wastewater and organic waste at the Districts' A.K. Warren Water Resource Facility, supplemented by Clean Energy's RNG supply. The station is projected to sell the equivalent of one million gallons of gasoline annually. The project, partially funded by a CalRecycle grant, is part of the Districts' Food Waste Recycling Program.

Clean Energy Fuels Corp. (NASDAQ: CLNE) reported Q3 2024 financial results with revenue of $104.9 million, up from $95.6 million in Q3 2023. The company sold 59.6 million RNG gallons, a 5.1% increase year-over-year. Net loss narrowed to $(18.2) million or $(0.08) per share, compared to $(25.8) million or $(0.12) per share in Q3 2023. Adjusted EBITDA improved to $21.3 million from $14.2 million last year.

Key operational highlights include breaking ground on a new RNG facility at South Fork Dairy, launching a demo program with JB Hunt for Cummins X15N trucks, and expanding their fueling station network in Western Canada with Tourmaline.

Tourmaline Oil Corp. and Clean Energy Fuels Corp. have opened two new compressed natural gas (CNG) fueling stations in Alberta, advancing Western Canada's first commercial-grade public CNG fueling network. The new stations in Calgary and Grande Prairie, along with the Edmonton station opened in April 2023, establish a important transportation corridor for trucking companies converting their fleets from diesel to CNG.

This initiative is part of a $70 million Joint Development Agreement announced in April 2023, with plans to build up to 20 CNG fueling stations across Western Canada in the next five years. The network could fuel up to 3,000 natural gas-powered trucks daily once complete. The adoption of CNG has accelerated over the last year, with nine market-leading companies already collectively displacing two million litres of diesel.

The introduction of Cummins' new X15N natural gas engine is expected to further boost CNG adoption in the heavy-duty truck market. Construction on the next CNG fueling station is set to begin in Kamloops, B.C., with Fort McMurray and Fort St. John to follow.

Tourmaline Oil Corp. and Clean Energy Fuels Corp. have opened two new compressed natural gas (CNG) fueling stations in Alberta, advancing Western Canada's first commercial-grade public CNG fueling network. The new stations in Calgary and Grande Prairie, along with the existing Edmonton station, establish a important transportation corridor for trucking companies converting from diesel to CNG.

This expansion is part of a $70 million Joint Development Agreement announced in April 2023, aiming to build up to 20 CNG fueling stations across Western Canada in five years. The initiative has already attracted nine market-leading companies, collectively displacing two million litres of diesel. The network, once complete, could fuel up to 3,000 natural gas-powered trucks daily.

The project coincides with Cummins introducing its X15N natural gas engine to the Canadian and U.S. heavy-duty truck market, offering diesel-like performance with reduced emissions. Construction on the next CNG station is set to begin in Kamloops, B.C., with Fort McMurray and Fort St. John to follow.

Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced its plan to release financial results for the third quarter of 2024 on November 6, 2024, after the market closes. This will be followed by an investor conference call at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). The call will be hosted by Andrew J. Littlefair, President and CEO, and Robert M. Vreeland, CFO.

Investors can participate in the live call by dialing 1.800.225.9448 from the U.S. or 1.203.518.9708 internationally, using the Conference ID: CLEAN. A telephone replay will be available for about three hours after the call ends, accessible until December 6, 2024. A live webcast will also be available on the company's website, with a 30-day replay option.

Clean Energy Fuels Corp. (NASDAQ: CLNE) has announced a new agreement with Houston's Metropolitan Transit Authority of Harris County (METRO) to build the agency's first private compressed natural gas (CNG) fueling station. The station will serve up to 120 of METRO's newest natural gas-powered transit buses, consuming an estimated 2 million gallons of CNG annually.

Clean Energy will design, build, and maintain the station, which is set to play a important role in METRO's efforts to reduce nitrogen oxide (NOx) and carbon emissions. The transition to CNG is expected to achieve a 90% reduction in NOx and tailpipe emissions. The new station and buses will also be able to transition to renewable natural gas (RNG), potentially reducing carbon emissions by over 300%.

Construction is expected to begin in early 2025 at the Hiram Clarke facility in Houston's southwest. This agreement represents Clean Energy's largest deal in the last decade, highlighting the ongoing transition to cleaner-burning natural gas by major fleets.

Clean Energy Fuels Corp. (Nasdaq: CLNE) has launched a program allowing heavy-duty fleets to test a 2025 Peterbilt 579 day cab tractor equipped with Cummins' 15-liter X15N natural gas engine. J.B. Hunt Transport Inc. is the first participant in this demo truck program, which aims to showcase the capabilities of renewable natural gas (RNG) in reducing carbon emissions.

The truck will be available for fleets to test on their normal routes for up to two weeks, utilizing Clean Energy's extensive fueling infrastructure. The X15N engine, powered by RNG, can reduce carbon emissions by up to 300% compared to diesel. Clean Energy's demo program is expected to run through 2025, targeting various trucking companies across the United States.

Clean Energy Fuels Corp. (NASDAQ: CLNE) reported Q2 2024 financial results:

• Revenue of $98.0 million, up from $90.5 million in Q2 2023
• Net loss of $(16.3) million, or $(0.07) per share
• Adjusted EBITDA of $18.9 million, up from $12.1 million in Q2 2023
• 57.1 million RNG gallons sold, down 2.6% year-over-year

The company partnered with Maas Energy to build up to nine RNG production facilities and completed construction on another dairy farm RNG project. Clean Energy maintains its 2024 outlook of $62-$72 million in Adjusted EBITDA but updated its GAAP net loss forecast to $(91)-$(81) million.

Clean Energy Fuels Corp. (Nasdaq: CLNE) has completed its latest renewable natural gas (RNG) production facility at Ash Grove Dairy in Lake Benton, MN. The facility is now injecting pipeline-quality RNG into the interstate natural gas pipeline grid. At full capacity, it's projected to supply up to 480,000 gasoline gallon equivalent (GGEs) of negative carbon-intensity RNG annually. The $22 million project, developed by Dynamic Renewables, will process up to 60,000 gallons of manure daily, capturing harmful methane and converting it into an estimated 165 MMBtus of RNG per day. This marks Clean Energy's fifth RNG facility to come online in the last nine months, addressing the growing demand for clean-burning fuel in commercial transportation.