PHOENIX--(BUSINESS WIRE)--Feb. 26, 2019--
Clean
Energy Fuels Corp. (Nasdaq: CLNE)
has set goals to offer Zero-Carbon1 Redeem™
renewable natural gas (RNG) at all of its fueling stations by 2025,
summarized in its Corporate Sustainability Report unveiled today at the
GreenBiz Conference.
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Clean Energy Sustainability Goals Outline Road to 100% Renewable, Zero-Carbon Fuel (Graphic: Business Wire)
By transitioning exclusively to Redeem
by 2025 and by achieving Zero-Carbon intensity, Clean Energy would
outdistance other alternative fuels, including electric vehicles, which
are not excepted to hit that mark until 2045.
“In 2014, the
first full year it was available,Clean Energy delivered more than
20 million gallons of Redeem to our stations, which represented 7
percent of our overall fuel mix. Last year, we delivered 110 million
gallons of Redeem, which represents 53 percent of the RNG delivered in
the market today. This demonstrates a significant growth in demand by
our customers as they see switching to RNG as an economical and easy way
to meet their own sustainability goals,” said Andrew J. Littlefair,
president and CEO, Clean Energy. “Clean Energy’s own corporate vision is
directly tied to reducing the impact of harmful
emissions from the transportation sector, and as such we have
committed to delivering carbon-free Redeem to all of our customers by
2025.”
The leading provider of natural gas for the transportation industry,
Clean Energy in its 2017
Corporate Sustainability Report outlined a three-pronged approach to
expanding its Redeem RNG portfolio to 100 percent renewable energy:
Offer Zero-Carbon fuel
Clean Energy is a powerful partner in the fight for clean air and is
committed to reducing the carbon-intensity of its renewables portfolio
to Zero-Carbon by 2025. This is 20 years ahead of California’s 2045 goal
of transforming the state’s power supply to 100% renewable energy.
Provide Redeem renewable natural gas at all of its fueling stations
Dedicated to providing the cleanest fuel available, Clean Energy has
established a goal of expanding its renewable fuel offering to all
of its stations and its customers’ stations by 2025.
Reduce its carbon footprint by 25%
Clean Energy is committed not just to sourcing the cleanest fuel
available, it is dedicated to having the cleanest natural gas fuel
supply chain. Given this, Clean Energy has established a goal of reducing
its companywide carbon footprint by 25 percent by 2025.
“Renewable natural gas is a more immediate and affordable solution to
achieving Zero-Carbon emissions in the transportation industry, and it’s
well ahead of the advancement of electric trucks,” said Ashley White,
Clean Energy Director and Head of Sustainability. “Clean Energy is
committed not just to sourcing the cleanest fuel available but being the
fastest to get to zero emissions.”
In 2018, Clean Energy’s Redeem renewable natural gas fuel volume grew by
40 percent to 110 million gasoline gallons equivalents (GGEs), resulting
in 665
thousand metric tons of greenhouse gas reduction. That is the
equivalent of planting 11 million trees, removing 141 thousand
gasoline-powered cars from the road, and recycling 232 thousand tons of
landfill waste.
In response to the growing number of fleets requesting Redeem, Clean
Energy has entered into agreements
with BP and others to secure
an increased supply of RNG.This should
enable the stream of Redeem to rapidly grow over the next several years
with new RNG production facilities under construction and more announced.
The Corporate Sustainability Report was prepared according to Global
Reporting Initiative (GRI) Standards, the most widely recognized
framework for sustainability reporting. Clean Energy will continue to
track the percentage and carbon index of its fuel portfolio according to
the California Air Resources Board (CARB) Low Carbon Fuel Standard
(LCFS) lifecycle assessment tool, making progress available on an annual
basis.
For more information and to view Clean Energy’s 2017 Corporate
Sustainability Report, please visit: https://www.cleanenergyfuels.com/sustainability/.
1Zero-Carbon is based on the average carbon index score
(approved by the California Air Resources Board) of Clean Energy’s fuel
supply portfolio.
About Clean Energy
Clean Energy Fuels Corp. is the leading provider of natural gas fuel and
renewable natural gas (RNG) fuel for transportation in the United States
and Canada, with a network of approximately 530 stations across North
America that we own or operate. We build and operate compressed natural
gas (CNG) and liquefied natural gas (LNG) stations and deliver more CNG,
LNG and RNG vehicle fuel than any other company in the United States.
Clean Energy sells Redeem™ RNG fuel and believes it is the cleanest
transportation fuel commercially available, reducing greenhouse gas
emissions by at least 70% today. Clean Energy owns natural gas
liquification facilities in California and Texas which produce LNG for
the transportation and other markets. 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 amounts of
RNG expected to be made available and the benefits of RNG. Actual
results and the timing of events could differ materially from those
anticipated in these forward-looking statements as a result of several
factors. 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190226005397/en/
Source: Clean Energy Fuels Corp.
Clean Energy Contact:
Raleigh Gerber
949-437-1397
raleigh.gerber@cleanenergyfuels.com
Investor Contact:
investors@cleanenergyfuels.com