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Chevron, Clean Energy Fuels Extend Adopt-a-Port Initiative to Reduce Emissions
May 11, 2021 GMT
SAN RAMON, Calif. & NEWPORT BEACH, Calif. (BUSINESS WIRE) May 11, 2021
Chevron Corporation (NYSE: CVX) announced today that its wholly-owned subsidiary Chevron U.S.A. Inc. (Chevron) is investing an additional $20 million in the Adopt-a-Port initiative with California renewable natural gas (RNG) provider Clean Energy Fuels Corp. (NASDAQ: CLNE). Chevron has now invested a total of $28 million in the initiative, which provides truck operators – large fleets and owner-operators – serving the ports of Los Angeles and Long Beach with cleaner, carbon-negative RNG to reduce emissions.
Clean Energy Inks New Deals To Meet Growing Demand For Low Carbon, Sustainable Renewable Natural Gas
NEWPORT BEACH, CALIF. (BUSINESS WIRE)
Clean Energy Fuels Corp. (NASDAQ: CLNE) announced new renewable natural gas (RNG) contracts as fleets across North America increasingly continue to adopt the clean, low-carbon fuel to power heavy- and medium-duty trucks.
The cleanest transportation fuel available, Clean Energy s RNG will power more trucking, refuse and transit fleets to lessen the climate impact of greenhouse gases. (Photo: Business Wire)
Clean Energy continues to expand its supply of RNG as the demand increases for the vehicle fuel which is derived from capturing the biogenic methane produced by the decomposition of organic waste from dairies, landfills, and wastewater treatment plants. RNG reduces climate-harming greenhouse gas emissions by at least 70 percent, and even up to 300 percent depending on the source of the RNG, making it a negative carbon fuel.
Clean Energy Fuels: Q1 Earnings Snapshot
May 6, 2021
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NEWPORT BEACH, Calif. (AP) Clean Energy Fuels Corp. (CLNE) on Thursday reported a first-quarter loss of $7.2 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Newport Beach, California-based company said it had a loss of 4 cents. Losses, adjusted for stock option expense and non-recurring costs, were 1 cent per share.
The provider of natural gas as an alternative fuel for vehicle fleets posted revenue of $77.1 million in the period.
Clean Energy Fuels shares have increased 25% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.79, more than quadrupling in the last 12 months.