Report Highlights Doubling of Natural Gas Fuel Sales in Texas in FY 2014
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (NASDAQ: CLNE), a key contributor to the natural gas vehicle fuel growth in Texas, noted today’s Railroad Commission of Texas report that CNG and LNG sales in Texas through July 31, 2014 were 220 percent of the fiscal year 2014 estimate. An estimated 14,521,326 gallon-equivalents of natural gas have been sold through this period, compared to the forecasted 6.6 million gallon-equivalents.
“The use of natural gas as a vehicle fuel is taking off in Texas”
“The use of natural gas as a vehicle fuel is taking off in Texas,” said Peter Grace, senior vice president, sales and finance, Clean Energy. “We firmly agree with Texas Railroad Commissioner David Porter that there is plenty of room for growth as more fleets take advantage of the economic and environmental benefits of natural gas vehicle fuel.”
Clean Energy currently has approximately 40 public-access natural gas fueling stations open in Texas today. Milestones such as opening the Texas Triangle to natural gas fueling and leading Texas transit agencies converting to natural gas are significant contributors to the growth in the use of natural gas as a vehicle fuel in Texas.
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.
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 anticipated growth in natural gas vehicle fueling. 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 and the cost and operating experience associated with natural gas vehicles. 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.