Clean Energy Wins Major Transit Deal; Shows Continued Growth with New and Existing Customers

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NEWPORT BEACH, Calif.--(BUSINESS WIRE)-- Clean Energy Fuels Corp. (NASDAQ: CLNE) announced that it won a $10 million, multi-year procurement from New Jersey Transit, the nation’s third largest provider of bus, rail and light rail transit, which links major points in New Jersey, New York and Philadelphia and provides close to 223 million passenger trips each year.

The procurement includes rebuilding a large compressed natural gas (CNG) fueling station, as well as additional garage modifications and the repair and maintenance of facilities through 2020. NJ Transit is expected to operate a fleet of 147 CNG commuter buses estimated to consume approximately 2 million gasoline gallon equivalents (GGEs) each year.

Clean Energy also signed other agreements across the transit, refuse and trucking markets, including the construction of new stations and extended maintenance and fueling contracts.

Transit

  • SP+, a provider of professional parking management, has signed a 5-year fueling agreement with Clean Energy to fuel 16 CNG buses for a new Consolidated Rent-A-Car facility located at the San Diego International Airport. The buses, owned by the San Diego Airport Authority, are anticipated to consume approximately 27,000 GGEs per month and will fuel with Redeem™, Clean Energy’s renewable natural gas (RNG) derived from biomethane.
  • On Feb. 10, 2016, the Los Angeles County Metropolitan Transportation Authority (LA Metro) opened its Division 13 facility, a $6 million private CNG fueling station built by Clean Energy. The new facility, which will be maintained by Clean Energy for the next 10 years, will fuel approximately 175 buses, which are expected to consume a total of 2 million GGEs of CNG annually.
  • Clean Energy extended its maintenance contract with Santa Cruz Metropolitan Transit District (Santa Cruz Metro) for an additional 5 years. The maintenance services support a station that fuels Santa Cruz Metro’s 100 CNG buses used throughout the county.
  • Clean Energy customer MV Transportation was awarded a CNG bus contract with Los Angeles World Airports. The 14 CNG buses will fuel exclusively at Clean Energy stations.
  • The City of Long Beach recently announced the purchase of over 100 additional light- and medium-duty CNG vehicles that will fuel at two Clean Energy stations in the city.

Trucking

  • Long-time customer, Dillon Transportation, has signed a new agreement with Clean Energy to fuel its heavy duty trucks in Texas with Redeem™. Dillon currently operates 72 CNG and liquefied natural gas (LNG) trucks out of Dallas, San Antonio, Midland and Houston which now fuel with Redeem to meet its customers’ sustainability goals. In 2015, Dillon’s fleet consumed 1.1 million GGEs of natural gas in Texas.
  • Raven Transport will deploy an additional 10 new LNG tractors out of Clean Energy’s Fort Worth, Texas, station starting in early March, which are expected to consume approximately 220,000 GGEs annually. The fueling contract runs through 2020.
  • Blackrock Logistics, based out of Pleasanton, Calif., and new customer, has deployed 10 CNG trucks for its fleet and will be fueling at Clean Energy’s Fontana, Calif., station. The 3-year fueling agreement represents approximately 110,000 GGEs of CNG each year.

Refuse

  • Clean Energy will design, build, lease and operate a new station in Orange County, Fla., for FCC, a multi-national construction firm that was awarded a refuse collection contract with the county. FCC has deployed 46 CNG trucks for that contract and will be fueling at Clean Energy’s Orlando International Airport station until the new station is completed. FCC is anticipated to consume close to 410,000 GGEs per year.
  • Clean Energy has signed a contract to design and build two stations for Recology Inc., one of the largest private refuse fleets in the country. In Brisbane, Calif., Clean Energy will design and build a time-fill and fast-fill station to support Recology’s current fleet of 64 CNG trucks, and be able to support their growth to 200 trucks in the future. At Recology’s Gilroy, Calif. station, Clean Energy will design and build a time-fill station to support 50 CNG trucks.
  • Harrison Brothers Enterprises has signed a station design and build contract with Clean Energy to support their fleet of 13 CNG refuse trucks. The station will include 24 fueling hoses and have the capacity to fuel over 100 trucks, supporting the refuse haulers plans to expand their use of CNG as their fueling solution of choice.

Natural gas fuel costs less than gasoline or diesel, depending on local market conditions. The use of natural gas fuel also reduces greenhouse gas emissions up to 21 percent. In addition, nearly all natural gas consumed in North America is produced in North America.

About Clean Energy

Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading provider of natural gas fuel for transportation in North America. We build and operate compressed natural gas (CNG) and liquefied natural gas (LNG) fueling stations; manufacture CNG and LNG equipment and technologies for ourselves and other companies; develop renewable natural gas (RNG) production facilities; and deliver more CNG and LNG fuel than any other company in the U.S. Clean Energy also sells Redeem™ RNG fuel and believes it is the cleanest transportation fuel commercially available, reducing greenhouse gas emissions by up to 90%. For more information, visit 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 without limitation statements about numbers of vehicles expected to be deployed, amounts of natural gas fuel expected to be consumed, and the benefits of natural gas relative to gasoline and diesel. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors, including, without limitation, the price of natural gas relative to gasoline and diesel, the cost and operating experience associated with natural gas vehicles, and permitting and other factors affecting construction. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents the Company files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.

Clean Energy Media Contact:
Jason Johnston
949-437-1411
jason.johnston@cleanenergyfuels.com
or
Clean Energy Investor Contact:
Tony Kritzer
949-437-1403
tkritzer@cleanenergyfuels.com

Source: Clean Energy Fuels Corp.

Released March 2, 2016