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Clean Energy (CLNE) Receives Los Angeles Ontario Airport CNG Contract

October 15, 2009 7:40 AM EDT
CLNE Hot Sheet
Overall Analyst Rating:
    NEUTRAL (Down Down)

Revenue Growth %: +12.7%
Clean Energy Fuels Corp. (NASDAQ: CLNE) awarded a contract from the City of Los Angeles 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. The contract life is 10 years.

CNG fuel requirements at the new Clean Energy/ONT station are expected to top 800,000 gallons each year at full build-out.

ONT plans call for the conversion of the entire fleet of airport shuttle buses to CNG power in 2011. In addition, the airport has mandated that all permitted taxicab operators convert 100 percent of their cabs to alternative fuel in the next two years.

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