Clean Energy Fuels Corp. and its largest shareholder, Total SE, announced a 50/50 joint venture to develop carbon-negative renewable natural gas (RNG) production facilities in the United States, as well as credit support to build additional downstream RNG fueling infrastructure. The initial firm commitment is $100 million and can increase to $400 million as development opportunities progress. Since Clean Energy and Total will be providing the equity portion of the investments, the actual amount of capital invested in RNG projects may be higher than $400 million depending on the amount of leverage that is deployed. In addition, Total will be providing credit support for Clean Energy development in the RNG value chain, including $45 million for contracted RNG fueling infrastructure.

Carbon-negative RNG is produced when carbon emissions are captured from dairies and turned into a transportation fuel, reduce the harmful effects on long-term climate change. As a result, the California Air Resources Board gives these carbon-negative RNG projects a weighted average carbon intensity (“CI”) Score (gCO2e/MJ) of -317 compared to 100 for diesel and 19 for electric batteries. Clean Energy is the largest provider of RNG as a transportation fuel in the United States, and the largest RNG fuel provider under the California LCFS program. RNG can be used directly as a vehicle fuel or can be used as a feedstock to produce “green” hydrogen or “green” electricity and still generate LCFS environmental credits.

The companies have already partnered to expand the use of RNG in the heavy-duty truck market with the Zero Now program, which allows fleets to purchase RNG trucks for the same price as diesel trucks. The demand for carbon-negative RNG has rapidly accelerated through the Zero Now program with trucking companies such as Kenan Advantage, KeHE Distributors, Estes Express Lines, Tradelink Transport, among many others, taking advantage of the economic savings while powering their new fleets with the cleanest fuel in the world.

“The finalization of this JV with Total, which was originally announced in December of last year, demonstrates the commitment both companies have to the growth of RNG, a fuel that can tackle serious climate issues today,” said Andrew J. Littlefair, CEO and president of Clean Energy. “The demand by customers for RNG continues to accelerate, highlighted by our recent announcement that the largest bus fleet in the U.S., LA Metro, had converted their entire fleet to RNG. This JV will help Clean Energy to continue to increase its supply of RNG in the years ahead.”

About Clean Energy

Clean Energy Fuels Corp. (Nasdaq: CLNE) is the leading provider of the cleanest fuel for the transportation market in the United States. Through its sales of RNG, which is derived from capturing biogenic methane produced from decomposing organic waste, Clean Energy allows thousands of vehicle fleets, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas from 60% to over 400% according to the California Air Resources Board, depending on the source of the RNG. Clean Energy can deliver RNG through compressed natural gas (CNG) and liquified natural gas (LNG) to its network of approximately 540 fueling stations across the U.S. and Canada. Clean Energy builds and operates CNG and LNG fueling stations for the transportation market, owns liquefication facilities in California and Texas, and transports bulk CNG and LNG to non-transportation customers around the U.S.

About Total

Total is a major energy player, which produces and markets fuels, natural gas and low-carbon electricity. Our 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.