Amazon Inks RNG Agreement, Considers Possible Stake in Clean Energy Fuels
Amazon Inc. said it has inked a five-year contract for renewable natural gas (RNG) with Clean Energy Fuels Corp. and could take up to a 20% stake in the fuel supplier over the next decade.
Beginning last Friday (April 16), RNG is to be provided to Amazon.com NV Investment Holdings LLC through 27 existing fueling outlets and 19 new fueling stations expected to be operational later this year. The stations are spread over 15 states.
In addition, Clean Energy issued a warrant to Amazon’s investment unit to purchase in tranches more than 53.1 million shares at a price of $13.49 each through April 16, 2031. The first tranches are for 13.3 million shares in connection to the fuel agreement, Clean Energy spokesperson Raleigh Gerber said. “The other tranches vest as Amazon purchases additional fuel and services with Clean Energy, up to $500 million.”
Comerica Bank Committed to Green Business
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53% of US NGV fuel in 2020 was RNG | Bioenergy Insight Magazine
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Captured above ground from organic material in agricultural, wastewater, landfill, or food waste, RNG can produce carbon-negative results when fueling on-road vehicles like short- and long-haul trucks, transit buses, and refuse and recycling collection vehicles. The California Air Resources Board’s Q3 2020 data confirms that the energy weighted carbon intensity (CI) value of California’s RNG vehicle fuel portfolio in its Low Carbon Fuel Standard (LCFS) program is carbon negative and below zero at -17.95 gCO2e/MJ.
NGVAmerica and RNG Coalition report that in 2020 a total of 646 million gallons (GGE) of natural gas were used as motor fuel. Of that, 345 million gallons (GGE) were from renewable sources.