Clean Energy Fuels (CLNE) landed a big deal today in which the company will build, own and operate CNG/LNG fueling centers at Pilot Flying J truck travel centers at select locations. With the availability of the new class-8 natural gas trucks being rolled out from several manufacturers, the company sees a big opportunity.
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"Pilot Flying J is the clear leader in the truck stop … Read the rest
Fuel Systems Solutions (FSYS) is on the acquisition trail this morning and has acquired privately held EvoTek LLC that provides dedicated CNG and LPG conversion systems across multiple U.S. fleet vehicle platforms. One of its customers includes BAF Technologies, a subsidiary of Clean Energy Fuels (CLNE). The $7.0 million deal consists of $4 million in cash and $3 million in stock. The company also announced it completed the purchase of Productive Concepts International fuel vehicle … Read the rest
Clean Energy Fuels (CLNE) posted better than expected results after the bell today reporting a non GAAP Q2 loss of $0.06, vs the analyst estimate of ($0.07) on revenues of $44 million, vs the estimate of $43.41 million. While the EPS number was worse than the year ago quarter’s number of ($0.01), the company posted a 58% increase in revenues.
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CEO Andrew Littlefair commented … Read the rest
Fuel Systems Solutions just announced that it is in the pr0cess of purchasing Productive Concepts International’s alternative fuel vehicle business for $11.1 million, expanding its US automotive OEM market penetration. The purchase includes $975,000 in assumed debt and is expected to be complete within the next 30 days, after which Productive Concepts International will become Fuel Systems Solutions’ subsidiary.
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In a press release, … Read the rest
Fuel Systems Solutions (FSYS) reported excellent earnings results this morning, reporting a Q2 EPS of $0.39, vs the analyst estimate of $0.22 on revenues of $99.8 million, vs the estimate of $89.53 million. Granted, those numbers are close to flat compared to what they reported a year ago and way below what they reported last quarter, but that’s due to the end of Italian subsidies. The company has been discussing this for some time and … Read the rest
In proposed legislation introduced by Senator Harry Reid yesterday, it was clear that the natural gas fuel providers and parts suppliers may be big beneficiaries. Along with establishing a Nat Gas Vehicle and Infrastructure Development Program within the DOE, nearly $4 billion in rebates would be provided to purchasers of nat gas vehicles as well as another $2.5 billion for grants for infrastructure and R&D.
Andrew J. Littlefair, Clean Energy President and CEO, said, “We … Read the rest
Westport Innovations (WPRT) announced it has signed an agreement with Volvo Powertrain, a subsidiary of Volvo AB, defining Westport’s responsibility to develop biogas and natural gas fueled engines for Volvo. Details won’t be released until later, but the companies have agreed to share the risks of development, Westport will be reimbursed for engineering costs and will generate revenue for every new nat gas/biogas engine sold to Volvo. The two companies first signed an agreement last … Read the rest
Clean Energy Fuels just announced that they have acquired IMW, a company that builds and maintains advanced natural gas fueling compressors and related equipment for station operators and commercial fleets. Clean Energy Fuels paid $125 million and a cash earn-out arrangement for the company. $75 million will be paid at closing, with $15 million of that amount being paid in cash and the rest in Clean Energy stock. Then, Clean Energy Fuels will pay out … Read the rest
Clean Energy Fuels (CLNE) has signed a contract with Republic Services (RSG) that expands their relationship to include three Republic divisions in California through April 2015. CLNE will be be providing 3.5 gallons of LNG fuel for these operations each year, reducing emissions by up to 23%.
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CLNE CEO Andrew Littlefair commented: “Republic is the nation’s second largest solid waste company and we are delighted … Read the rest
Clean Energy Fuels has just announced that it has been awarded a new 10-year contract from the Los Angeles County Metropolitan Transit Authority. Per the terms of the contract, Clean Energy Fuels will refurbish and upgrade CNG station compressor equipment for LA Metro’s Los Angeles Central and South Bay divisions. The company will also operate and maintain the updated equipment.
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In a press release, … Read the rest