Clean Energy Fuels (CLNE), Customers Get $34 Million From DOE For Nat Gas Vehicles

Clean Energy Fuels (CLNE) along with its customers and government agency partners have been awarded $34 million by the US Dept of Energy in order to offset the higher of cost natural gas vehicles.  It’s part of a larger $300 million infusion allocated by the American Recovery and Reinvestment Act that will be used to defer the cost of building 11 natural gas fueling stations and put more 9000 alternative fuel vehicles on the road.

“These DOE grants serve to accelerate the deployment of natural gas vehicles around the country, spurring demand for this proven vehicle technology,” said CLNE CEO Andrew Littlefair. “The natural gas infrastructure development and vehicle acquisition awards will result in significant air quality benefits as harmful emissions are reduced, and help decrease our dependence on foreign oil.”

Shares of Clean Energy Fuels (CLNE) are up over 10% and approaching 52 week highs.  It has now retraced much of the sell off that began in September 2008.

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