Clean Energy’s Redeem™ Sales More than Double in 2015; Growth Should Continue with Expansion into Additional States
February 10 2016 - 11:00AM
Business Wire
Clean Energy Fuels Corp., (NASDAQ: CLNE) today announced that
sales of Redeem™, its renewable natural gas (RNG) vehicle fuel
offering, more than doubled in 2015 to 50 million gasoline gallon
equivalents (GGEs) from 20 million GGEs in 2014. Redeem™ sales have
expanded from Clean Energy public-access stations in California, to
become the contracted fuel choice of customers like UPS, Republic
Services, the City of Santa Monica’s Big Blue Bus, the University
of California San Diego and others. Sales of Redeem™ also have
recently expanded into Oregon and Texas. Clean Energy launched
Redeem™ in 2013 and has rapidly increased sales as more fleets want
to realize the significant reduction in greenhouse gas (GHG) that
Redeem™ offers as compared to diesel fuel.
This Smart News Release features multimedia.
View the full release here:
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UPS, already the largest user of Redeem™, currently fuels close
to 400 vehicles in California, and will now take delivery for
portions of its delivery vehicle fleet in Texas, continuing their
commitment to driving one billion miles using its alternative fuel
and advanced technology fleet by the end of 2017.
“UPS is committed to expanding our use of alternative fuels,
including renewable natural gas, to minimize our impact to the
environment. Renewable natural gas turns naturally occurring
methane into an alternative fuel that replaces diesel and its
carbon emissions,” UPS senior VP for global engineering and
sustainability Mark Wallace said in a release.
“Transportation leaders like UPS know that Redeem™ is the most
cost-effective and environmentally friendly alternative to
traditional diesel that they can use in their fleet vehicles,” said
Harrison Clay, president of Clean Energy Renewables. “No other fuel
provider has the infrastructure network and supply to offer RNG on
the scale of Clean Energy. We believe our ability to expand
geographically and add additional supply will result in more and
more fleets relying on Clean Energy as their alternative fuel
provider.”
The University of California, San Diego (UCSD) became the first
university transit fleet to fuel with 100% RNG, fueling its fleet
of 52 vehicles, including 19 transit buses with Redeem™. The fleet
fuels at the UCSD campus station and is expected to consume
approximately 240,000 GGEs of Redeem™ annually.
“The University of California San Diego is actively engaged in
defining our future and we believe our success is largely measured
by our societal impacts. Becoming the first university in the
nation to utilize a renewable fuel in our buses and fleet vehicles
helps set a new standard in sustainable fuel use for universities.”
– Jim Ruby, Assistant Director of Fleet Services, University of
California, San Diego.
Clean Energy believes that Redeem™ is the cleanest
transportation fuel commercially available in the US today. Redeem™
is a renewable natural gas vehicle fuel, often referred to as
biomethane. It is derived from biogenic methane or biogas, which is
methane that is naturally generated by the decomposition of organic
waste. The methane gas is processed, purified and sent into the
interstate natural gas pipeline and made available exclusively to
Clean Energy customers. Redeem™ biomethane vehicle fuel is procured
from biomethane production facilities, including two owned and
operated by Clean Energy.
Click the video link below to understand how Redeem™ is
made:https://www.youtube.com/watch?v=3VapWtJGVEw
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, LNG
and Redeem™ RNG fuel than any other company in the U.S. 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 the benefits of Redeem™ relative to other fuels,
the anticipated growth in Clean Energy’s Redeem™ fuel sales and the
amount of Redeem™ UCSD expects to consume. 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, conditions at biomethane production
facilities, the cost and operating experience associated with
natural gas vehicles and changes to federal and state programs that
help make production and distribution of Redeem™ cost-effective.
The forward-looking statements made herein speak only as of the
date of this press release and, unless otherwise required by law,
Clean Energy undertakes no obligation to publicly update such
forward-looking statements to reflect subsequent events or
circumstances. Additionally, the reports and other documents Clean
Energy 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160210005488/en/
Clean Energy Media Contact:Jason A. Johnston,
949.437.1411jason.johnston@cleanenergyfuels.comorClean
Energy Investor Contact:Tony Kritzer,
949.437.1403tkritzer@cleanenergyfuels.com
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