Maintains Right to Biomethane to Be Sold as Redeem
Clean Energy Fuels reports the sale of its majority interest in the McCommas Bluff landfill biomethane production facility in Dallas, noting that it’s retained rights to market and sell product from the plant under its Redeem renewable natural gas (RNG) vehicle fuel brand.
Minority interest partner Cambrian Energy has taken over at McCommas Bluff for approximately $40.6 million with some $3.0 million in additional compensation pending further performance tests, Clean Energy says.
“Buying the McCommas biomethane facility [in August 2008] allowed Clean Energy to gain a valuable foothold in the renewable natural gas business,” Clean Energy Renewables president Harrison Clay said in a release.
McCommas One of Many RNG Sources
“We have successfully leveraged our success at McCommas into a greater knowledge of the entire supply chain and established a leadership position in the RNG fuel market,” he said. “With McCommas remaining a RNG supplier, we will be able to focus our RNG business on Clean Energy Renewable Fuels’ core strength – marketing and selling alternative fuels.”
Clean Energy notes that it commenced production at a new biomethane facility in North Shelby, Tenn., last year and added an additional 12 third-party-owned biomethane production sources to its portfolio of RNG supply.
Redeem brand RNG is currently available at Clean Energy natural gas fueling stations in California. “Biomethane is the only fuel commercially available today at a discount to diesel prices that achieves a 90% reduction in greenhouse gas emissions and can meet 100% of the fueling requirements of an 18-wheeler,” the company says.
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Source: Clean Energy Fuels with Fleets & Fuels follow-up