Clean Energy Fuels Corp. (CLNE) is an American energy company based in Newport Beach, California, that provides natural gas as an alternative fuel for motor vehicles in the United States and Canada. The company was established in 1996 by T.Boone Pickens and Andrew J. Littlefair, who currently serves as the President and CEO. Clean Energy Fuels Corp. is publicly traded on the NASDAQ under the ticker symbol "CLNE".
CLNE is considered one of the largest providers of renewable and natural gas in the U.S with more than 530 fleet customers representing over 40,000 vehicles at approximately 550 stations. They also design, operate, and maintain fueling stations while training station personnel. The company's core business encompasses three primary areas: building natural gas and renewable natural gas (RNG) fueling stations, selling and distributing natural gas and RNG, and servicing natural gas vehicles.
CLNE primarily delivers its service to fleet vehicle operations, including heavy-duty trucks, refuse trucks, airport shuttles, taxis, vans, and tractors, focusing significantly on supplying compressed natural gas (CNG), liquefied natural gas (LNG), and renewable natural gas (RNG) for transportation. They serve transit agencies, municipalities, airports, solid waste, and public service vehicle fleets, and their fueling solutions are aimed to reduce the ecological footprint and meet emission standards.
RNG, also known as biomethane, is gaining traction as a significant part of CLNE's vision for the future. Biomethane is essentially methane that is captured from waste sources like landfills or dairy farms, preventing it from entering the atmosphere and contributing to greenhouse gas pollution. This offers a lower-carbon alternative to diesel for heavy-duty trucking and other high-usage fleets, meeting environmental goals without sacrificing vehicle performance or increasing costs significantly.
Despite the challenging environment created by the COVID-19 pandemic, Clean Energy Fuels Corp. maintains a reliable, secure, and efficient supply chain, contributing to the continuity of transportation services. The company embodies a commitment to reducing environmental impact and championing cleaner and more sustainable transportation solutions. With its forward-thinking approach to sustainable fuel, the company continues to be at the forefront of the rapidly evolving alternative and renewable fuel industry.