Tuesday, 09 March 2021
Clean Energy Fuels Corp. and its largest shareholder, Total SE, have announced a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. Courtesy of Clean Energy
The initial firm commitment is $100 million and can increase to $400 million as development opportunities progress. Since Clean Energy and Total will be providing the equity portion of the investments, the actual amount of capital invested in RNG projects may be higher than $400 million depending on the amount of leverage that is deployed. In addition, Total will be providing credit support for Clean Energy development in the RNG value chain, including $45 million for contracted RNG fueling infrastructure.
Clean Energy Fuels Corp announced new and extended contracts for more than 58 million gallons of Redeem™ renewable natural gas (RNG) to accommodate the continued demand for the sustainable fuel from key business segments including heavy duty trucking, solid waste and public transit. Courtesy of Clean Energy
“Our customers have continued to operate their essential businesses at a very high level, despite significant challenges from the COVID 19 pandemic,” said Nate Jensen, senior vice president renewable fuels, Clean Energy.
“This means that essential employees are able to get to work, refuse is collected every day, and goods movement continues uninterrupted throughout the U.S. Our customers have demonstrated their commitment to sustainable transportation by enthusiastically embracing our ultra-low carbon Redeem RNG. In response, we have significantly augmented our supplies of Redeem RNG and expect to provide ever-increasing volumes of the clean, sustainable fuel to o