Clean Energy Fuels (CLNE) Awarded 10 Yr California Contract

Clean Energy Fuels (CLNE) has been awarded a 10 year contract by the city of Glendale, California to build, maintain and operate a public access natural gas fueling station that will be used to serve public transit buses, municipal vehicles, hauling trucks, taxis, shuttle buses and passenger cars near the Bob Hope airport.   It will potentially dispense 800K gallons annually as Glendale’s goal replacing all of its diesel powered fleet vehicles with CNG vehicles over the next few years becomes a reality. 

James Harger, CLNE Senior VP said “For many years the City of Glendale has been a dedicated user of clean-burning natural gas fuel, as evidenced by its extensive fleet of CNG-powered transit buses, refuse trucks, street sweepers and light-duty municipal vehicles. The City’s level of commitment continues to expand, as evidenced by the City’s recent announcement that it plans to replace its entire fleet of diesel refuse trucks with CNG-powered models over the next five years, a move which will contribute significantly to boosting local efforts to curtail air pollution and greenhouse gas emissions.”

The news didn’t help the stock though.. it traded off more than 16% and is once again closing in all time lows around $4 bucks a share.

Leave a Reply

Your email address will not be published. Required fields are marked *