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NEWPORT BEACH, Calif. � BP p.l.c. (NYSE: BP) and Clean Energy Fuels Corp. (Nasdaq: CLNE) today announced an agreement which will secure an increased supply of renewable natural gas (RNG) for Clean Energy through Clean Energy�s extensive fueling infrastructure as more fleets are requesting the clean fuel. The agreement enables BP to flow larger volumes to Clean Energy stations as the supply of RNG is expected to rapidly grow over the next several years with a number of new RNG production facilities under construction and more announced. In turn, Clean Energy will share in the incremental environmental credit revenues generated from the incremental RNG volume.
Renewable natural gas fuel, or biomethane, is produced entirely from organic waste. As a fuel for natural gas vehicles, including heavy-duty trucks, it is estimated to result in 70 percent lower greenhouse gas emissions than from equivalent gasoline or diesel fuel vehicles, which makes it the cleanest fuel available anywhere. Clean Energy has grown sales of its Redeem� branded RNG from 22 million gasoline equivalent gallons (GGEs) in 2014, the first full year it was available, to an expected 100 million GGEs in 2018. |