SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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|Item 8.01||Other Events.|
As previously disclosed, on April 13, 2021, Clean Energy Fuels Corp. (the “Company”) and BP Products North America Inc. (“bp”) executed an agreement (“bp JV Agreement”) that created a 50/50 joint venture (“bpJV”) to develop, own and operate new renewable natural gas (“RNG”) production facilities at dairies and other agriculture locations.
Pursuant to the bp JV Agreement, bp and the Company initially committed to provide $50 million and $30 million, respectively, with bp and the Company each holding $30 million of Class A Units and bp also receiving $20 million of Class B Units. bp made its $50 million contribution to the bpJV on April 13, 2021.
On June 21, 2022, the Company contributed $50 million to the bpJV and forced conversion of bp’s Class B Units into Class A Units.
The bpJV has several dairy RNG projects under development, and the Company expects RNG produced from such projects to be available beginning in the second half of 2022.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|Date: June 22, 2021||CLEAN ENERGY FUELS CORP.|
|By:||/s/ Andrew J. Littlefair|
|Name: Andrew J. Littlefair|
|Title: President and Chief Executive Officer|