Clean Energy Fuels Prices Follow-On Public Offering of Common Stock

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Fri Jun 26, 2009 6:00am EDT

SEAL BEACH, Calif.--(Business Wire)--
Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced the pricing of its
follow-on public offering of 8,200,000 shares of common stock, at a public
offering price of $8.30 per share. The Company has granted the underwriters a
30-day option from the date of the final prospectus supplement to purchase up to
1,230,000 additional shares of its common stock to cover overallotments, if any.
The offering is expected to close on July 1, 2009, subject to customary closing
conditions. 

Clean Energy intends to use the net proceeds from the offering, after deducting
underwriting discounts and Clean Energy`s expenses related to the offering, for
working capital and other general corporate purposes, which may include capital
expenditures related to station construction activities, investment in its LNG
plants and biomethane production plant or future acquisitions of natural gas
fueling infrastructure, vehicle or services businesses and biomethane production
assets. 

Merrill Lynch & Co. is acting as sole book-running manager for the offering.
Lazard Capital Markets, Janney Montgomery Scott and Craig-Hallum Capital Group
are acting as co-managers. 

The offering is being made under the Company`s shelf registration statement
filed with and declared effective by the Securities and Exchange Commission
(SEC). The offering is being made only by means of a prospectus, filed with the
SEC. Prospective investors should read the prospectus supplement and the shelf
registration statement for more complete information about Clean Energy and the
offering. Copies of the prospectus supplement and the accompanying prospectus
may be obtained by visiting EDGAR on the SEC`s Web site at http://www.sec.gov or
by contacting Merrill Lynch & Co., 4 World Financial Center, New York, NY 10080,
Attention: Prospectus Department, or at 212.449.1000; Lazard Capital Markets at
212.632.6717; Janney Montgomery Scott at 617.557.2971; and Craig-Hallum Capital
Group at 612.334.6357. 

This press release does not constitute a solicitation of an offer to buy, or an
offer to sell, shares of common stock, nor will there be any sale of these
securities in any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification of the shares
under the securities laws of any such state or jurisdiction. 

About Clean Energy Fuels

Clean Energy is the leading provider of natural gas (CNG and LNG) for
transportation in North America. It has a broad customer base in the refuse,
transit, ports, shuttle, taxi, trucking, airport and municipal fleet markets,
fueling more than 17,200 vehicles at 184 strategic locations across the U.S. and
Canada. Clean Energy owns and operates two LNG production plants, one in Willis,
Texas and one in Boron, Calif., with combined capacity of 260,000 LNG gallons
per day and designed to expand to 340,000 LNG gallons per day as demand
increases. It also owns and operates a landfill gas processing facility in
Dallas that produces renewable biomethane gas for delivery in the nation`s gas
pipeline network. 

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of
federal securities laws. Clean Energy cautions you that any statements contained
in this press release that are not strictly historical statements constitute
forward-looking statements. Such forward-looking statements include, but are not
limited to, those related to: statements regarding the offering and the use of
the net proceeds from the offering. These forward-looking statements are neither
promises nor guarantees and involve risks and uncertainties that could cause
actual results to differ materially from such forward-looking statements.
Factors that could cause actual events to differ materially from those predicted
in such forward-looking statements include market conditions and customary
closing conditions. Additional factors that could cause actual events to differ
from those predicted in such forward-looking statements are identified in the
prospectus supplement and Clean Energy`s other filings with the SEC that are
incorporated by reference into the prospectus supplement, including its Annual
Report on Form 10-K for the fiscal year ended December 31, 2008 and its
Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2009, each
of which is filed with the SEC (copies of which may be obtained at the SEC`s
website at: http://www.sec.gov). Readers should not place undue reliance on any
such forward-looking statements, which speak only as of the date they are made.
Clean Energy disclaims any obligation to publicly update or revise any such
statements to reflect any change in its expectations, or in events, conditions
or circumstances on which any such statements may be based, or that may affect
the likelihood that actual results will differ from those set forth in the
forward-looking statements, except as required by law. 



For Clean Energy Fuels Corp.
Investors
Ina McGuinness, 310/954-1100
or
News Media
Bruce Russell, 310/559-4955 x101
brussell@cleanenergyfuels.com

Copyright Business Wire 2009

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