Clean Energy Fuels Corp. (Clean Energy), incorporated on April 17, 2001, is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada. The Company is engaged in supplying compressed natural gas (CNG), liquefied natural gas (LNG) and renewable natural gas (RNG) for light, medium and heavy-duty vehicles, and providing operation and maintenance (O&M) services for natural gas fueling stations.
The Company designs, builds, operates and maintains fueling stations; manufactures, sells and services non-lubricated natural gas fueling compressors and other equipment used in CNG stations and LNG stations; offers assessment, design and modification solutions to provide operators with code-compliant service and maintenance facilities for natural gas vehicle fleets; transports and sells CNG and LNG to industrial and institutional energy users having no direct access to natural gas pipelines; processes and sells RNG; sells tradable credits generated by selling natural gas and RNG as a vehicle fuel, including credits under the California and the Oregon Low Carbon Fuel Standards (collectively, LCFS Credits) and Renewable Identification Numbers (RIN Credits or RINs) under the federal Renewable Fuel Standard Phase 2; helps its customers acquire and finance natural gas vehicles, and obtains federal, state and local credits, grants and incentives. It caters to various markets, including heavy-duty trucking, airports, refuse, public transit, government fleets, and industrial and institutional energy users.
CNG Sales
The Company sells CNG for use as a vehicle fuel through fueling stations located on its customers' properties and through its network of public access fueling stations. Its CNG vehicle fuel sales are made primarily through contracts with its customers. The Company delivers CNG by obtaining natural gas from local utilities or third-party marketers and then compressing, storing and dispensing it into its customers' vehicles. As of December 31, 2016, its subsidiary, NG Advantage, LLC (NG Advantage), used a fleet of 70 high-capacity tube trailers to deliver CNG to institutions and industrial energy users, such as hospitals, food processors, manufacturers and paper mills that do not have direct access to natural gas pipelines.
LNG Production and Sales
The Company obtains LNG from its own liquefaction plants and from third party suppliers. It owns and operates LNG liquefaction plants near Houston, Texas and Boron, California, which it calls the Pickens Plant and the Boron Plant, respectively. As of December 31, 2016, the Pickens Plant had a capacity to produce 35 million gallons of LNG per year and included tanker trailer loading system and a one million gallon storage tank with a capacity to hold up to 840,000 usable gallons. As of December 31, 2016, the Boron Plant had a capacity to produce 60 million gallons of LNG per year and dual tanker trailer loading system and a 1.8 million gallon storage tank with a capacity to hold up to 1.5 million usable gallons. It sells LNG on a bulk basis to fleet customers owning and operating their fueling stations, and through its network of public access fueling stations. The Company also sells LNG for non-vehicle purposes, including to customers using LNG in oil fields, and for industrial, utility, marine and rail applications. As of December 31, 2016, it delivered through its fleet of 84 tanker trailers to fueling stations, where it is stored and dispensed in liquid form into vehicles.
O&M Services
The Company performs O&M services for CNG and LNG fueling stations that are not owned by it. For these services, it generally charges a fixed or a per-gallon fee based on the volume of fuel dispensed at the station.
Station Construction and Engineering
The Company designs and constructs fueling stations and facility modifications, and sells or leases some of these stations to its customers. The Company uses a combination of custom designed and off-the-shelf equipment to build fueling stations. It also offers assessment, design and modification solutions to provide operators with ode-compliant service and maintenance facilities for natural gas vehicle fleets. Its NGV Easy Bay product is a natural gas vapor leak barrier developed specifically for natural gas vehicle facilities. Many of its fueling stations have separate public access areas for retail customers, which generally have the look, feel and dispensing rates of traditional gasoline and diesel fueling stations.
RNG Production and Sales
The Company obtains RNG through its own production plants, as well as through third-party producers. The Company's subsidiary Clean Energy Renewables, owns RNG production facilities located at Republic Services landfills in Canton, Michigan, and North Shelby, Tennessee. It sells some of the RNG it produces through its natural gas fueling infrastructure for use as a vehicle fuel. It also purchases RNG from third party producers and sells that RNG for vehicle fuel use through its fueling infrastructure. The RNG it sells for vehicle fuel is distributed under the name, Redeem.
Sales of RINs and LCFS Credits
The Company generates LCFS Credits when it sells RNG, and conventional natural gas for use as a vehicle fuel in California and Oregon, and it generates RINs when it sells RNG for use as a vehicle fuel in the United States. It can sell these RINs and LCFS Credits to third parties needing the credits to comply with federal and state emissions requirements.
Natural Gas Fueling Compressors
The Company's subsidiary, Clean Energy Compression, manufactures, sells and services non-lubricated natural gas fueling compressors and related equipment for the global natural gas fueling market. Clean Energy Compression has an additional manufacturing facility near Shanghai, China, and has sales and service offices in the United States, Bangladesh, Colombia and Peru.
Vehicle Acquisition and Finance
The Company offers vehicle finance services, including loans and leases, to help its customers acquire natural gas vehicles. The Company applies for and receives federal, state and local incentives associated with natural gas vehicle purchases and passes these benefits through to its customers. It may also secure vehicles to place with customers and/or pay deposits with respect to such vehicles prior to receiving a firm order from its customers.
The Company competes with Uber, Lyft, Aspro, GNC Galileo, GE, SAFE, ANGI Energy Systems, Atlas Copco, Xpress Natural Gas, OsComp Systems, Irving Ltd., Trillium, AmpCNG, EVO CNG, Gain Clean Fuels, TruStar Energy, Kwik Trip, Shell Oil Products U.S., Applied LNG Technology, Stabilis and Prometheus Energy.
4675 Macarthur Ct Ste 800
The company trades on NASDAQ exchange. The company headquarter is located in California, CA. The company was established in the 2001.| Ticker | CLNE |
| Long Name | Clean Energy Fuels Corp. |
| Short Name | Clean Energy Fuels |