Clean Energy Fuels $CLNE stock has poked above its 200 day moving average but has yet to confirm the break. The stock has recently done a downtrend channelUptrend and downtrend channel patterns are technical analysis tools used to identify potential future price movements. They are formed by two parallel lines on a chart and can be u... breakout and looks set to run backup to $8.65 resistance as it has repeatedly done over the last year in predictable cycles.
Clean Energy awarded contract by San Diego MTS
San Diego Metropolitan Transit System awarded Clean Energy Fuels a contract on January 24, 2023, for the supply of 86 million gallons of renewable natural gas to run its bus fleet. Using fuel from four private transit stations, MTS’s fleet of 764 buses, 595 of which are RNG-powered, serves the San Diego metropolitan area. A competitive solicitation process was used to award the contract. The fleet is expected to reduce 73,972 metric tons of carbon dioxide by using RNG instead of diesel, which is the same as planting 1.2 million trees, removing 15,939 gasoline cars from the road, or recycling 25,596 tons of landfill waste annually.
“San Diego MTS was an early adopter of natural gas in the 1990s and has continued to seek cleaner and more economical fueling options,” said Clean Energy Senior Vice President Chad Lindholm. “As a result of the use of RNG the people who live in the San Diego area will have less exposure to greenhouse gas emissions and cleaner air.”
“RNG is a great example of how we can use innovation and technology to create a cleaner and more sustainable environment,” said MTS Chief Executive Officer Sharon Cooney. “The use of RNG is an important strategy for MTS while we work toward achieving our goal of zero emissions. This contract with Clean Energy will play key role as MTS continues transitioning to a more eco-friendly transit system.”
Clean Energy opens new RNG fueling station for Amazon.com
On December 19, 2022, Clean Energy Fuels announced the opening of a new renewable natural gas fueling station that is expected to supply Amazon (AMZN) and other truck fleets in the greater Chicago area with 1.4 million gallons of the clean fuel annually. The Romeoville station, which is situated at 300 Southcreek Parkway, is a component of a deal between Clean Energy and Amazon under which Clean Energy will construct 19 stations across the country. The station is built with enough fueling capacity to accommodate several hundred more trucks after the initial batch of more than 100 Amazon trucks. In accordance with the agreement announced last year, additional 17 new Clean Energy-owned stations are planned to follow Romeoville, with several of them expected to open early next year. Amazon heavy-duty trucks have already refueled at more than 86 existing Clean Energy stations across the nation.
Clean energy shares underperformed in 2022
