Clean Energy’s Redeem™ Sales Reports Double Digit Growth in 2017; Continues Position as North America’s Largest Provider of Renewable Natural Gas
NEWPORT BEACH, Calif. – Clean Energy Fuels Corp. (Nasdaq: CLNE) announced today that sales of Redeem™, its renewable natural gas (RNG) offering and the cleanest fuel commercially available today, grew by 32% in 2017, from 60 million gallons in 2016 to 79 million gallons in 2017. The 2017 volume from Clean Energy represents over half of the overall United States RNG production as reported by the Environmental Protection Agency through December.
“We are the leading provider of RNG in North America and as more fleets seek out the economic and environmental benefits of RNG as a vehicle fuel, we are well positioned to maintain and increase that lead in 2018,” said Tyler Henn, vice president and general manager of Clean Energy Renewables. “Programs such as the Low Carbon Fuel Standard (LCFS) and Renewable Fuel Standard (RFS) continue to provide a path for RNG production growth which allows fleets to meet greenhouse gas reduction goals and we have the product and the infrastructure to help them reach those goals.”
Clean Energy also announced today that it had been awarded a three-year Redeem™ RNG fueling agreement with North County Transit District (NCTD), the public transportation provider in North San Diego County, California, servicing 11 million passengers annually. The contract calls for Clean Energy to provide 1.5 million gasoline gallon equivalents (GGEs) per year to NCTD’s fleet of 167 buses.
Clean Energy launched Redeem in 2013 in California and sold 14 million GGE’s that year. Today it is sold in 20 states to refuse customers like Republic Services, transit customers like LA Metro and Santa Monica Big Blue Bus, airport customers like Dallas/Fort Worth International and trucking customers like Ryder and Kroger.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of natural gas fuel and renewable natural gas (RNG) fuel for transportation in North America. We build and operate compressed natural gas (CNG) and liquefied natural gas stations (LNG) and deliver more CNG, LNG and RNG vehicle fuel than any other company in the U.S. Clean Energy sells Redeem RNG fuel and believes it is the cleanest transportation fuel commercially available, reducing greenhouse gas emissions by up to 70%. For more information, visit www.CleanEnergyFuels.com.
Further Information:
Clean Energy Media Contact:
Gary Foster
949.437.1113
gary.foster@cleanenergyfuels.com
Clean Energy Investor Contact:
Tony Kritzer
949.437.1403
tkritzer@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 NCTD will 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 RNG 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.
