Investorideas.com

Get investor ideas from our AI, cannabis, cleantech, crypto, gaming, mining, sports podcasts - be a guest or sponsor: call 800 665 0411


Share on StockTwits

Clean Energy Fuels Partners with Amazon for Renewable Natural Gas

Source: Streetwise Reports

 

April 20, 2021 (Investorideas.com Newswire) Clean Energy Fuels shares traded 11% higher after the company reported that it has entered into fuel supply and investment agreement with Amazon for low and negative carbon renewable natural gas.


Natural gas retailer and supplier of compressed, liquefied and renewable natural gas for light, medium and heavy-duty vehicles Clean Energy Fuels Corp. (CLNE:NASDAQ) today announced that "it has signed an agreement with Amazon.com Inc. (AMZN:NASDAQ) to provide low and negative carbon renewable natural gas (RNG)."

The firm indicated in the release that it will provide the RNG fuel to Amazon in 15 different states in the U.S. at 27 of its existing Clean Energy fueling stations. In addition, the company noted that it will expand services through another 19 newly constructed, non-exclusive new or upgraded Clean Energy-owned stations by the end of December 2021.

In addition, the company issued warrants to Amazon giving it the option to purchase up to 53.14 million shares of Clean Fuels common stock. The specific details were outlined in Clean Energy's Form 8K filing with the U.S. Securities and Exchange Commission. As stated in the Form 8K filing, the first tranche of 13.28 million warrant shares, approximately 25% of the total warrants, vested in conjunction with the fuel supply agreement between the two companies. The remaining warrants will be predicated upon future fuel purchases reaching up to $500 million. The warrants come with an exercise price of $13.49 and are valid until April 15, 2031.

Clean Energy Fuels' CEO and President Andrew J. Littlefair commented, "If the world is really going to tackle the issue of climate change, all of us need to find solutions that work both environmentally and economically, and that is exactly what this agreement supports...Clean Energy was the first to commercially make RNG available as a vehicle fuel in 2013 and now fuels tens of thousands of vehicles across the country every day."

Clean Energy Fuels Corp. is based in Newport Beach, Calif., and is a provider of clean fuel for the commercial transportation market. The company's renewable natural gas is derived from captured biogenic methane that is produced from decomposing organic waste that is then used to create RNG products for powering commercial vehicle fleets, airport shuttles, city buses, and waste and heavy-duty trucks. The firm advised that depending upon the source of the RNG, it can help reduce greenhouse gasses by 60% to 400% compared to diesel and other fuels. The firm has a network of around 565 fueling stations throughout the U.S. and Canada and can deliver Redeem through both compressed natural gas (CNG) and liquefied natural gas (LNG). The company additionally owns natural gas liquefication facilities in Texas and California and transports bulk CNG and LNG to non-transportation customers throughout the U.S.

Clean Energy Fuels started the day with a market cap of around $2.2 billion with approximately 199.2 million shares outstanding and a short interest of about 5.25%. CLNE shares opened 26% higher today at $14.09 (+$2.95, +26.48%) over Friday's $11.14 closing price. The stock has traded today between $11.82 and $14.10 per share and is currently trading at $12.39 (+$1.25, +11.22%).

Disclosure:

1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: Amazon. He or members of his household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders


Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp






Get more Oil and Gas - news, articles, and stock directories

Buy a energy guest post on Investorideas.com