Gallons Delivered Rose 10% During 2013,
As ‘Trucking Industry Began Its Transition’
Clean Energy Fuels emphasized an increase in volumes delivered as it released its earnings for the fourth quarter and calendar 2013 today.
Gallons delivered totaled 214.4 million gallons in 2013, up from 194.9 million gallons for 2012, a gain of 10%.
“2013 will go down as the year the heavy-duty trucking industry began its transition to natural gas in a meaningful way,” Clean Energy president and CEO Andrew Littlefair said in the company’s earnings release.
“Over the last year, we made significant strides in building out our fueling infrastructure, establishing relationships with new customers and expanding our relationships with existing customers.
Trucking, Refuse, Transit and Airports
“We believe this will enable Clean Energy to capture a substantial share of the new and large trucking market, as well as extending our existing market position in the more established natural gas markets of refuse, transit and airports,” Littlefair said.
Littlefair said in a call with analysts earlier this month that he’s targeting a market of some 3,500 trucks for 2014, and that the anticipated split is 57% LNG and 31% CNG.
Littlefair said that Clean Energy owns and operates 317 compressed natural gas and 154 liquefied natural gas LNG stations. The firm built 55 CNG and 19 LNG stations in 2013.
Gallons of fuel delivered during the fourth quarter of 2013 totaled 55.5 million, compared to 51.7 million gallons delivered in the fourth quarter of 2012. “Gallons delivered were up 13% for the fourth quarter of 2013,” the company said, “when excluding 2.5 million gallons delivered in the fourth quarter of 2012 by the Company’s Peruvian joint venture, which was sold in March of 2013.”
Clean Energy’s net loss for 2013 was $67 million, compared with $101.3 million in 2012.
Jim Harger is chief marketing officer at Clean Energy Fuels (NASDAQ:CLNE).
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Source: Clean Energy Fuels with Fleets & Fuels follow-up