Clean Energy Fuels (NASDAQ: CLNE) opens higher after listing more contracts Tuesday for renewable natural gas and dairy development projects.
Among several projects noted, Clean Energy said LA County Metro has renewed its maintenance agreement for six stations that will power 1,417 transit buses with an expected 137 million gallons of renewable natural gas.
Estes Express Lines, the largest US privately-owned freight transportation carrier, is deploying an additional 100 natural gas trucks with an expected 3M gallons of fuel in California and Texas.
The Los Angeles County Sanitation Districts has entered into a contract with Clean Energy to construct a new public access fueling station in Carson, Calif., Including a fueling agreement for RNG.
Saying it has “a high degree of comfort that Clean Energy’s growth prospects are abundant and intact,” Jones Trading recently started coverage with a Buy rating and $ 18 price target.