City and County of Sacramento Opt to Renew Clean Energy's Contract to Supply Fuel for Growing Numbers of LNG Refuse Trucks
SEAL BEACH, Calif., Jul 28, 2008 (BUSINESS WIRE) -- Clean Energy Fuels Corp. (Nasdaq: CLNE) has been awarded a one-year LNG (liquefied natural gas) supply contract renewal with an option for up to two additional years to provide fuel for the City and County of Sacramento's growing fleets of natural gas-powered refuse trucks. Clean Energy has been supplying LNG fuel under contract to Sacramento's municipal refuse agencies since 2005. Yearly LNG fuel requirements are projected to top one million gallons over the course of the initial contract term.
Serving local residential and business communities in unincorporated areas, Sacramento County currently operates 105 LNG refuse trucks, and has announced plans to add 19 more LNG trucks over the next year. The City of Sacramento's solid waste collection and recycling fleet now includes 61 LNG trucks, with 35 more expected to be deployed within two years.
"We are pleased to continue our supply relationship with the City and County of Sacramento California, where we have provided reliable, cost-effective fueling services to the refuse agencies for the last three years," said James Harger, Clean Energy Senior Vice President. "We understand that reliable fuel supply is a critical factor for refuse agencies and the people they serve, and we have worked successfully in Sacramento to achieve this goal."
Clean Energy has the largest supply of LNG in the western United States, including sourcing contracts with six LNG plants. The Company also operates its own LNG plant near Houston, Texas. When Clean Energy's new California LNG Plant becomes operational in fall 2008, it will provide up to 160,000 gallons of LNG per day and have over 1.5 million gallons of LNG storage. The Company has also announced a long-term contract to purchase LNG from a new plant being built near the California-Arizona border.
Clean Energy (Nasdaq: CLNE) is the leading provider of natural gas (CNG and LNG) for transportation in North America. It has a broad customer base in the refuse, transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets, fueling more than 14,000 vehicles daily at strategic locations across the United States and Canada. Clean Energy del Peru, Clean Energy's Peruvian joint venture, operates the world's largest natural gas vehicle fueling station in Lima, Peru. Information at: www.cleanenergyfuels.com.
Forward-Looking Statements This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including statements made with respect to the number of LNG trucks ultimately deployed by the City and County of Sacramento and their associated fuel sales and the timing of the completion of the California LNG plant. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and the company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
SOURCE: Clean Energy Fuels Corp.
Clean Energy Fuels Corp. Christine Thomas 310-559-4955, ext. 103 cthomas@cleanenergyfuels.com or Investors: Ina McGuinness, 310-954-1100
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