Key Developments For Clean Energy Fuels Corp.
Clean Energy Fuels Corp. (CLNE.O) (Nasdaq)
Clean Energy Fuels Corp. Secures Contract From New Jersey`s Atlantic County Utilities Authority To Build And Maintain New Public Access Compressed Natural Gas Fueling Station
Clean Energy Fuels Corp. announced that the Atlantic County Utilities Authority (ACUA), a southern New Jersey-based services authority providing waste management and recycling services in Atlantic County, has awarded a contract to Clean Energy Fuels Corp., to design, build, and maintain a new public access compressed natural gas (CNG) fuel station. The facility will operate 24/7 to support ACUA`s growing fleet of CNG refuse trucks, as well as municipal and private CNG fleet vehicles in the area.
Clean Energy Fuels Corp. Secures 10-Year Contract At Ontario International Airport to Build, Maintain New Compressed Natural Gas Fueling Station
Clean Energy Fuels Corp. announced that the The City of Los Angeles has awarded a 10 year contract to Clean Energy Fuels Corp., to design, build, and operate a new public access CNG fueling station at Ontario International Airport (ONT) to serve growing fleets of CNG-fueled airport courtesy shuttle buses, taxicabs and shuttle vans. CNG fuel requirements at the new Clean Energy/ONT station are expected to top 800,000 gallons each year at full build-out.
Clean Energy Fuels Corp. To Acquire BAF Technologies, Inc.
Clean Energy Fuels Corp. announced that it has signed a purchase and sale agreement to acquire BAF Technologies, Inc. of Dallas, Texas, the provider of natural gas vehicle systems and conversions in the United States. The purchase price payable at the closing of the acquisition of BAF is approximately $8.3 million.
Clean Energy Fuels Corp. Closes Follow-On Public Offering of Common Stock
Clean Energy Fuels Corp. announced that its follow-on public offering of 9,430,000 shares of common stock at a public offering price of $8.30 per share was closed. The aggregate amount of common shares sold reflects the exercise in full by the underwriters of their option to purchase up to 1,230,000 additional shares of Clean Energy`s common stock to cover over-allotments. The Company received aggregate net proceeds of approximately $73.2 million, after deducting underwriting discounts and commissions and estimated offering expenses payable by the Company.
Clean Energy Fuels Corp. Prices Follow On Public Offering Of Common Stock
Clean Energy Fuels Corp. 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. The Company intends to use the net proceeds from the offering, after deducting underwriting discounts and the Company'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.
