Clean Energy’s Redeem™ Sales More than Doubles in 2015; Growth Should Continue with Expansion into Additional States
NEWPORT BEACH, CALIF. – Clean Energy Fuels Corp., (NASDAQ: CLNE) today announced that sales of Redeem™, its renewable natural gas (RNG) vehicle fuel offering, more than doubled in 2015 to 50 million gasoline gallon equivalents (GGEs) from 20 million GGEs in 2014. Redeem™ sales have expanded from Clean Energy public-access stations in California, to become the contracted fuel choice of customers like UPS, Republic Services, the City of Santa Monica’s Big Blue Bus, the University of California San Diego and others. Sales of Redeem™ also have recently expanded into Oregon and Texas. Clean Energy launched Redeem™ in 2013 and has rapidly increased sales as more fleets want to realize the significant reduction in greenhouse gas (GHG) that Redeem™ offers as compared to diesel fuel.
UPS, already the largest user of Redeem™, currently fuels close to 400 vehicles in California, and will now take delivery for portions of its delivery vehicle fleet in Texas, continuing their commitment to driving one billion miles using its alternative fuel and advanced technology fleet by the end of 2017.
“UPS is committed to expanding our use of alternative fuels, including renewable natural gas, to minimize our impact to the environment. Renewable natural gas turns naturally occurring methane into an alternative fuel that replaces diesel and its carbon emissions,” UPS senior VP for global engineering and sustainability Mark Wallace said in a release.
“Transportation leaders like UPS know that Redeem™ is the most cost-effective and environmentally friendly alternative to traditional diesel that they can use in their fleet vehicles,” said Harrison Clay, president of Clean Energy Renewables. “No other fuel provider has the infrastructure network and supply to offer RNG on the scale of Clean Energy. We believe our ability to expand geographically and add additional supply will result in more and more fleets relying on Clean Energy as their alternative fuel provider.”
The University of California, San Diego (UCSD) became the first university transit fleet to fuel with 100% RNG, fueling its fleet of 52 vehicles, including 19 transit buses with Redeem™. The fleet fuels at the UCSD campus station and is expected to consume approximately 240,000 GGEs of Redeem™ annually.
“The University of California San Diego is actively engaged in defining our future and we believe our success is largely measured by our societal impacts. Becoming the first university in the nation to utilize a renewable fuel in our buses and fleet vehicles helps set a new standard in sustainable fuel use for universities.” – Jim Ruby, Assistant Director of Fleet Services, University of California, San Diego.
Clean Energy believes that Redeem™ is the cleanest transportation fuel commercially available in the US today. Redeem™ is a renewable natural gas vehicle fuel, often referred to as biomethane. It is derived from biogenic methane or biogas, which is methane that is naturally generated by the decomposition of organic waste. The methane gas is processed, purified and sent into the interstate natural gas pipeline and made available exclusively to Clean Energy customers. Redeem™ biomethane vehicle fuel is procured from biomethane production facilities, including two owned and operated by Clean Energy.
Click the video link below to understand how Redeem™ is made: https://www.youtube.com/watch?v=3VapWtJGVEw.
Clean Energy Media Contact:
Jason A. Johnston
949.437.1411
jason.johnston@cleanenergyfuels.com
Clean Energy Investor Contact:
Tony Kritzer
949.437.1403
tkritzer@cleanenergyfuels.com
About Clean Energy
Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading provider of natural gas fuel for transportation in North America. We build and operate compressed natural gas (CNG) and liquefied natural gas (LNG) fueling stations; manufacture CNG and LNG equipment and technologies for ourselves and other companies; develop renewable natural gas (RNG) production facilities; and deliver more CNG, LNG and Redeem™ RNG fuel than any other company in the U.S. For more information, visit www.cleanenergyfuels.com.
Forward-Looking Statements
This news 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, including without limitation statements about the benefits of Redeem™ relative to other fuels, the anticipated growth in Clean Energy’s Redeem™ fuel sales and the amount of Redeem™ UCSD expects to consume. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors, including, without limitation, conditions at biomethane production facilities, the cost and operating experience associated with natural gas vehicles and changes to federal and state programs that help make production and distribution of Redeem™ cost-effective. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
