Clean Energy Fuels Breaks Century Mark
Clean Energy Fuels said November 12 it broke the 100-million-gallon mark for natural gas fuel delivered in a quarter for the first time in 3Q 2019, with deliveries of 102.7mn gallons, an 11.3% increase from 3Q 2018 deliveries of 92.3mn gallons. Nine-month deliveries rose to 297.5mn gallons from 266.8mn gallons in the year-ago period.
The increases largely reflected growth in compressed natural gas (CNG) volumes and increased sales of Redeem™, Clean Energy’s renewable natural gas (RNG) offering, CEO Andrew J. Littlefair said.
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“The move by companies and trucking firms toward clean air heavy-duty trucks, and particularly heavy-duty trucks running on Redeem™, is driving this growth,” he said. “We believe renewable natural gas has a large role to play in helping America address climate change challenges.”
Clean Energy’s revenues in 3Q 2019 slipped to US$74.4mn from US$77.3mn a year ago, principally due to lower station construction revenue, with the impact of increased sales volumes largely offset by lower effective fuel prices, which reflected lower natural gas commodity prices.