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Clean Energy Fuels reports a 57 percent increase in profits during Q2

The Seal-Beach based natural gas provider is using its ongoing success to gain more customers

By Kristen CervantesPublished: August 15, 2011 10:33 AM

Clean Energy Fuels, a Seal Beach-based provider of natural gas fuel for transportation in North America, reported its June second quarter profits increased by 57 percent over the same time period last year. The company says it is using its success to gain more customers.

During 2011 Clean Energy has earned a total of $134.5 million, up 62 percent from the previous year’s revenue sum of 83 million. Recently, the firm launched a $150 million investment project supported by Chesapeake to build upon America’s Natural Gas Highway infrastructure.

“[Clean Energy] can accelerate the roll-out of a natural gas fueling infrastructure along major trucking corridors in the U.S. We believe this effort will be the catalyst that will spur truck operators to make the switch sooner, rather than later,” said Clean Energy's President and CEO, Andrew Littlefair.
The company believes its growth is due to high diesel gas prices. “Our business has reached an inflection point as high diesel prices compared to low natural gas prices along with increasing options for natural gas vehicles are bolstering the case for fleet operators to switch to natural gas,” said Littlefair.

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