Clean Energy Fuels Inc. (CLNE) stock soared by 0.18% at the last trading close while the CTRM stock price is rising by 21.81% in the premarket at the last check. Clean Energy Fuels Corp. is the nation’s leading supplier of environmentally friendly transportation gasoline. According to the California Air Resources Board, Clean Energy’s sales of renewable natural gas (RNG), which is produced from biogenic methane generated by the decomposition of the organic waste, enable thousands of vehicles, ranging from airport shuttles to city buses to waste and heavy-duty trucks, to decrease their amount of climate-harming greenhouse gas from 60% to over 400% based on the source of the RNG.
What is happening?
On April 18, 2021, CLNE reported that it has reached a deal with Amazon to supply low-carbon, zero-carbon renewable natural gas (RNG). The fuel will be available at 27 existing Clean Energy fueling stations, as well as 19 non-exclusive new or upgraded Clean Energy-owned stations set to open by the end of the year. RNG will be available in 15 states from both new and existing stations.
Andrew J. Littlefair, CEO and president of Clean Energy commented that:
If the world is really serious about addressing climate change then it is important that everyone work together to identify ways that are both environmentally and commercially viable, which is just what this agreement encourages. In 2013, Clean Energy was the first company to commercialize RNG as a vehicle fuel, and it now fuels tens of thousands of vehicles every day around the world.
Clean Energy Fuels has guaranteed a warrant to Amazon. This recent development in CLNE is a very positive step towards progress causing the CLNE stock to rise.