NEWPORT BEACH, Calif.--(BUSINESS WIRE)--
Clean
Energy Fuels Corp., (NASDAQ: CLNE)
today applauded the passage by the U.S. Congress of an alternative fuel
tax credit which will continue to support the use of natural
gas, a cleaner and domestic transportation fuel option. The credit
is retroactive to 2015 and extends through 2016 and applies to
compressed natural gas (CNG) and liquefied natural gas (LNG). With an
anticipated signature by President Obama, the tax credit will cap a
successful year for Clean Energy that includes the completion of 68
station projects and adding over 3,000 vehicles to the Clean Energy
fueling network, despite facing the headwinds of lower diesel prices. As
David Biderman, the executive director and CEO of the Solid Waste
Association of North America recently said, "…one of the remarkable
things that has occurred this year is that despite the declining price
of diesel, the purchase of natural gas fueled waste collection vehicles
has remained steady as companies and local governments seek to reduce
carbon footprint, reduce emissions and reduce costs."
"The tax credit will support the continued expansion of natural gas
fueling in the U.S., which will help to clean our air and keep dollars
here," said Andrew J. Littlefair, president and CEO of Clean Energy. "We
applaud Congress for taking this action and encourage the implementation
of permanent measures to encourage further use of this superior and
cleaner fuel."
Natural
gas fuel costs up to $1.00 less per gallon than gasoline or diesel,
depending on local market conditions. The use of natural gas fuel not
only reduces operating costs for vehicles, but also reduces greenhouse
gas emissions up to 30% in light-duty
vehicles and 23% in medium to heavy-duty vehicles. In addition,
nearly all natural gas consumed in North America is produced
domestically.
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151218005729/en/
Clean Energy Media Contact:
Jason A. Johnston, 949.437.1411
jason.johnston@cleanenergyfuels.com
or
Clean
Energy Investor Contact:
Tony Kritzer, 949.437.1403
tkritzer@cleanenergyfuels.com
Source: Clean Energy Fuels Corp.
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