Clean Energy Fuels (CLNE) Acquires LNG Infrastructure Company Wyoming Northstar

Clean Energy Fuels (CLNE) is looking to continue to build out its LNG fueling infrastructure in the US and the announcement of the Wyoming Northstar acquisition this morning will help.  CLNE will pay $7.4 million at closing with the balance paid in yearly installments until 2015.  I don’t see the total acquisition cost.

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“Having Northstar, the premier LNG station provider, in our group will greatly enhance our ability to build out the growing natural gas fueling infrastructure in the United States,” said Andrew J. Littlefair, Clean Energy’s President and CEO. “Our plan envisions a fueling infrastructure serving major goods movement and trucking corridors nationwide.”

Shares of CLNE are down a bit this morning and continue to trade around the lows of the year, looking to put in a bottom.  The stock will need a decent spike to confirm that the bottom of the base is in.

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