CLEAN ENERGY NEWS
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Clean Energy nabs $150 million in investment funds
The Seal Beach-based fuel company picks up three overseas investors.
By Derek LarsenPublished: August 29, 2011 12:22 PM
Clean Energy Fuels Corp., a natural gas fuel provider based in Seal Beach, has received $150 million in investments from three investment firms looking to participate in the United States’ growing natural gas vehicle market.
The investors include Singapore-based Temasek Holdings and Seatown Holdings, as well as Hong Kong-based RRJ Capital Master Fund.
“Clean Energy has been demonstrating a strong track record in natural gas fueling service in North America,” explained Richard Ong, chairman and CEO of RRJ Capital. “It is well-positioned to tap into the future growth opportunities in both the domestic market and in international markets such as China and Southeast Asia.”
The investment money will be used in a fueling infrastructure-building program by Clean Energy, which will support the creation and upkeep of several natural gas fueling stations.
“This investment by Temasek, Seatown and RRJ demonstrates their confidence in the opportunity for fueling natural gas vehicles as well as in Clean Energy’s position as the leader in growing this market,” said Andrew Littlefair, president and CEO of Clean Energy. “Our development program for fueling station-building is expanding rapidly and we welcome the support provided by the funds.”
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The investors include Singapore-based Temasek Holdings and Seatown Holdings, as well as Hong Kong-based RRJ Capital Master Fund. “Clean Energy has been demonstrating a strong track record in natural gas fueling service in North America,” explained Richard Ong, chairman and CEO of RRJ Capital. “It is well-positioned to tap into the future growth opportunities in both the domestic market and in international markets such as China and Southeast Asia.” The investment money will be used in a fueling infrastructure-building program by Clean Energy, which will support the creation and upkeep of several natural gas fueling stations. “This investment by Temasek, Seatown and RRJ demonstrates their confidence in the opportunity for fueling natural gas vehicles as well as in Clean Energy’s position as the leader in growing this market,” said Andrew Littlefair, president and CEO of Clean Energy. “Our development program for fueling station-building is expanding rapidly and we welcome the support provided by the funds.” Related headlines Clean Energy Fuels reports a 57 percent increase in profits during Q2 Costa Mesa IKEA goes green Clean Energy signs $40 million contract |
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