Clean Energy Fuels (CLNE) Expands NYC CNG Fueling Facilities

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08:28:04 am on April 19, 2010

Clean Energy Fuels (CLNE) is expanding its presence in NYC, by building two new CNG fueling stations in the Queens area as well as next to Liberty National Airport.  The stations will help meet the the demand of a growing fleet of natural gas fueled taxis, limos and other transit vehicles.  Construction is expected to begin next month and expected to open in the fall.

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Chief Marketing Officer of CLNE James Harger commented: “We are delighted with the station development relationships we have formed with Gene Friedman and GAZ Realty. By expanding our CNG station network, we are responding directly to the growing demand for clean, green, domestic natural gas fuel that we have observed in the New York area, as fleet operators deploy increasing numbers of CNG vehicles.”

Shares of CLNE aren’t moving on the news.  They are trying to hold support of the 50 day moving average which was tested again Friday.  After taking out the 50 day moving average, shares were able to recover and close right on this key area of support. 

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