Clean Energy Delivers Record 50.6 Million CNG Gallons in Q3

Clean Energy Fuels Corp. (NASDAQ: CLNE) has reported it delivered for the first time over 50 million compressed natural gas (CNG) gallons in one quarter.

The company plans to grow its CNG sales further with a strategic move to expand its CNG market to large industrial and institutional energy users beyond the nation’s natural gas pipeline by acquiring a controlling interest in NG Advantage LLC, a pioneer in the natural gas “virtual pipeline” delivery system.

The NG Advantage investment will primarily be used to fund capital expenditures for expansion and growth in the business.

Clean Energy will also purchase NG Advantage’s Milton, Vt., compression station which is on track to supply nearly 16 million gasoline-gallon-equivalents (GGEs) of CNG annually. This station will immediately become Clean Energy’s highest-volume station in its nationwide network of almost 500 stations.

Category: General Update, Green