Clean Energy Fuels Breaks Century Mark


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.
“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.

Source link


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.