Clean Energy Fuels (CLNE) To Fuel Fleet Of 48 UPS LNG Trucks

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03:21:18 pm on February 22, 2011

Shares of Clean Energy Fuels (CLNE) are up about 10% today on news it has signed a contract with package delivery leader UPS to fuel 48 of the their natural gas fueled vehicles.  CLNE will design and build a fueling station near a UPS facility in Las Vegas and operate it under an initial 7 year contract with options for another 3 years.  The facility is expected to open within a few months and also be available to the public.

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James Harger, Chief Marketing Officer, Clean Energy, said, “We are delighted to have this opportunity to extend our relationship with UPS to support its efforts to curb harmful air pollution and global warming emissions. The new Las Vegas LNG truck fleet is part of continuing efforts by UPS to reduce its emissions from the use of fuels like gasoline and diesel, and to lower its carbon footprint.”

Harger added, “This UPS station project is a major step toward realizing our goal to create a Southwest LNG truck fueling corridor that will extend along major truck transport routes from San Diego to Salt Lake City.”

With today’s surge, perhaps shares of CLNE are close to bottoming out after a long side.  In my opinion they are mighty compelling around the $12 level for a long term position.

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