Latest news with #CleanEnergy
Business Wire
4 hours ago
- Business
- Business Wire
Clean Energy Completes $29.5 Million ITC Sale
NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced that, CE bp Renew Co, LLC, its joint venture with BP Products North America Inc., has finalized the sale of $29.5 million in investment tax credits (ITC). This marks the third successful ITC transaction and completes the sale and monetization of all ITCs tied to its six operating renewable natural gas (RNG) projects. This $29.5 million sale marks Clean Energy's third successful ITC transaction and completes the sale and monetization of all ITCs tied to its six operating renewable natural gas (RNG) projects. Share The $29.5 million in credits were generated by four of Clean Energy's dairy RNG production facilities: Ash Grove, Marshall Ridge, VF Renewables and Tri Cross, dairies which are located in key agricultural regions in Minnesota, Iowa and South Dakota. These projects collectively have the ability to produce up to an estimated 3.9 million gallons of negative carbon-intensity RNG annually to fuel transportation fleets. 'This transaction highlights the value of our renewable natural gas development portfolio,' said Clay Corbus, senior vice president and head of renewable fuels at Clean Energy. 'As the third successful transaction to fully monetize our RNG projects, it's a milestone which reflects market confidence and positions Clean Energy for further growth in the clean fuel sector.' About Clean Energy Clean Energy Fuels Corp. is the country's largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived by capturing methane from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada as well as RNG production facilities at dairy farms. Visit and follow @ce_renewables on X and LinkedIn. 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 amounts and timing of renewable natural gas expected to be produced or consumed; the potential development of the market for RNG; the environmental and other benefits of Clean Energy's fuels; the availability of environmental, tax and other government regulations, programs and incentives; and the impacts of legislative and regulatory developments. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. 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 contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
Globe and Mail
4 hours ago
- Business
- Globe and Mail
Clean Energy Completes $29.5 Million ITC Sale
Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced that, CE bp Renew Co, LLC, its joint venture with BP Products North America Inc., has finalized the sale of $29.5 million in investment tax credits (ITC). This marks the third successful ITC transaction and completes the sale and monetization of all ITCs tied to its six operating renewable natural gas (RNG) projects. This press release features multimedia. View the full release here: Clean Energy's renewable natural gas facility at Tri-Cross dairy, Viborg, South Dakota. The $29.5 million in credits were generated by four of Clean Energy's dairy RNG production facilities: Ash Grove, Marshall Ridge, VF Renewables and Tri Cross, dairies which are located in key agricultural regions in Minnesota, Iowa and South Dakota. These projects collectively have the ability to produce up to an estimated 3.9 million gallons of negative carbon-intensity RNG annually to fuel transportation fleets. 'This transaction highlights the value of our renewable natural gas development portfolio,' said Clay Corbus, senior vice president and head of renewable fuels at Clean Energy. 'As the third successful transaction to fully monetize our RNG projects, it's a milestone which reflects market confidence and positions Clean Energy for further growth in the clean fuel sector.' About Clean Energy Clean Energy Fuels Corp. is the country's largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived by capturing methane from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada as well as RNG production facilities at dairy farms. Visit and follow @ce_renewables on X and LinkedIn. 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 amounts and timing of renewable natural gas expected to be produced or consumed; the potential development of the market for RNG; the environmental and other benefits of Clean Energy's fuels; the availability of environmental, tax and other government regulations, programs and incentives; and the impacts of legislative and regulatory developments. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. 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 contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
West Australian
9 hours ago
- Business
- West Australian
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant. The project aims to produce blue hydrogen as up to 1.2 million tonnes per annum of clean ammonia for export to high-margin Asia-Pacific markets. By integrating gas exploration with its CCS capabilities, Pilot says it can produce carbon-neutral gas, aligning with its existing decarbonisation goals and WA's push for cleaner energy. With WA's domestic gas market facing supply constraints and the growing need for gas to support renewable energy growth, Pilot's drill-ready Leander prospect could offer a compelling opportunity to local established players needing a quick-to-market project. Leander's appeal is bolstered by its robust geological profile. Pilot's technical team has identified multiple stacked pay targets within Kingia Sandstone at the prospect, mirroring the high-productivity reservoirs of multiple onshore Perth Basin giants. Should exploration prove successful, the company estimates Leander could supply gas for more than 30 years, feeding Pilot's planned ammonia plant and supporting WA's energy grid. The farm-out process is expected to intensify over the coming months, with Pilot aiming to secure partners to fund its drilling and exploration activities. A strategic pivot from traditional oil and gas to a diversified clean energy portfolio, underpinned by its potential farm-out permit and Cliff Head assets, could deliver a lightbulb moment for the ambitious company. With strong market interest already evident and a clear vision for sustainable energy, Pilot is steering toward a lucrative future in WA's dynamic energy landscape. Is your ASX-listed company doing something interesting? Contact:
Sydney Morning Herald
9 hours ago
- Business
- Sydney Morning Herald
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. 'Due to the quality and extent of Pilot's Perth Basin exploration holdings and their fast-track development potential to get direct access to the Western Australia domestic gas market, the company expects the farm-out process to be competitive.' Pilot Energy managing director Brad Lingo The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant.
The Age
9 hours ago
- Business
- The Age
Pilot initiates courtship process for massive Perth Basin gas play
Pilot Energy has kicked off a formal courtship process to secure farm-out partners at the company's expansive offshore gas permit in Western Australia's North Perth Basin. The impressive 8605-square-kilometre licence, Australia's largest offshore exploration permit, encompasses both proven oil and gas play fairways along WA's Mid West coast. At the heart of Pilot's recent exploration strategy is the Leander gas prospect, a hefty trap target with an estimated 1.1 trillion cubic feet (tcf) of prospective gas resources and a probability of drilling success ranging from 24-36 per cent. The company says its standout Kingia sandstone target, within Leander, holds 536 billion cubic feet (bcf) of gas with a 31 per cent chance of success, mirroring the geological characteristics of onshore Perth Basin discoveries such as Waitsia, Erregulla and Lockyer Deep. Pilot has set the stage for a competitive farm-out by establishing a dedicated data room for suitors. It expects to receive multiple requests for a look from properly endowed industry players. 'Due to the quality and extent of Pilot's Perth Basin exploration holdings and their fast-track development potential to get direct access to the Western Australia domestic gas market, the company expects the farm-out process to be competitive.' Pilot Energy managing director Brad Lingo The company believes that attracting a partner with the technical and commercial expertise to drill Leander will fast-track its development by leveraging its nearby Cliff Head oil platform for rapid commercialisation. The strategic infrastructure was recently acquired from Triangle Energy to spearhead Pilot's latest pivot into domestic gas, where demand is surging amid delays in other WA gas projects. The company says its farm-out process dovetails with its broader vision to lead Australia's clean energy production at the same address, where Pilot is repurposing the Cliff Head oil field into a carbon capture and storage (CCS) facility as part of its ambitious Mid West Clean Energy project. Cliff Head infrastructure includes onshore processing facilities, pipelines and the Arrowsmith production plant.
