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This week marked the start of a global meeting on climate change in Copenhagen, with nearly 200 nations trying to reach an agreement on this contentious issue. The delegates attending the summit will have until December 18 to discuss things like cuts on greenhouse gas emissions, particularly from … Read the rest
Clean Energy Fuels (CLNE) continues to win CNG fueling development contracts in Cali and it’s scored another one this morning. Veolia Tranportation Services, N. America’s largest private provider of public transit has awarded CLNE with a contract to build and operated a CNG fueling station in downtown LA. Construction is set to begin in Jan 2010 and be completed in mid 2010.
Senior VP of CLNE James Harger, said, “We are very grateful for the … Read the rest
Garbage companies in 4 states have opened CNG fueling stations designed and built by Clean Energy Fuels. According to this press release, Clean Energy Fuels has designed and built fueling stations for the following operators in the following states:
Choice Environmental Services in Fort Lauderdale, FL
Central Jersey Waste in Hamilton Township, NJ
Allied Waste Services in Boise, ID
South County Sanitary Company in San Luis Obispo, CA
The new stations will help these garbage … Read the rest
Clean Energy Fuels (CLNE) has been awarded another CNG contract this morning, this time from the Atlantic County Utilities Authority which provides waste and recycling services in southern New Jersey. CLNE will design, build and maintain a new compressed natural gas fueling station to support ACUA’s growing fleet of CNG vehicles. The facility will be open 24/7 and be available to the general public. No word on the financials of the deal
James Harger … Read the rest
Clean Energy Fuels (CLNE) reported mixed results after the bell but managed to get back in the black for the first time in a few years, reporting a non GAAP .01/share profit. However, revenues were shy of analyst estimates at $31.2 million.
CEO Andrew Littlefair commented on the company’s future:
“As the economic and environmental benefits of natural gas are becoming more widely understood and well publicized, we have expanded our discussions to include a … Read the rest
Clean Energy Fuels (CLNE) keeps racking up the long term deals to supply CNG fueling services, many of them at airports in California. It’s secured another one. This morning the company is announcing it will provide CNG fueling stations at Ontario Intl Airport in Los Angeles for shuttle buses, taxicabs and shuttle vans. The plan is to convert the entire fleet of shuttle buses and taxicabs to CNG fuel within two years with CLNE providing … Read the rest
Janney Montgomery is out this morning maintaining their Buy rating on Clean Energy Fuels (CLNE) and nearly doubling the price target from $14 to $27.
Hat tip to StreetInsider.com for the following analyst comment:
We are raising our fair value estimate for BUY-Rated Clean Energy Fuels (CLNE) from $14 to $27, based on 18x our CY2011 EPS estimate of $1.49. We believe investors are increasingly looking into 2011 to see which companies will be the … Read the rest
It appears Clean Energy Fuels (CLNE) wants to position itself for the potential growth in natural gas powered vehicles with a purchase this morning of BAF Technologies which is the leading provider of natural gas vehicle systems and conversions in the US. This is a great move and gives them a complete natural gas vehicle solution from conversion to the fuel pump. Fuel Systems Solutions (FSYS) is the current leader in nat gas auto conversions, … Read the rest
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. … Read the rest
There’s that earnings headline discrepancy again. Look around at the Clean Energy Fuels (CLNE) earnings headlines and you’ll see just about all publications reporting “wider than expected losses”. What they’re including are those one time charges which analyst estimates don’t include, so it’s misleading. Take out one time costs (the non GAAP measure) and the company actually beat estimates by .06/share, reporting a loss of .01/share. Revenue did miss the analyst estimates of $31.46 million, … Read the rest