Clean Energy Fuels Announces Follow-On Public Offering of Three Million Shares of Common Stock (USA)

Clean Energy today announced that it intends to offer, subject to market and other conditions, three million shares of its common stock for sale to the public.

Clean Energy expects to grant the underwriters a 30-day option from the date of the final prospectus supplement to purchase up to an additional 450,000 shares of its common stock. The public offering price has not yet been determined. Clean Energy intends to use the net proceeds from the offering, after deducting underwriting discounts and Clean Energy’s estimated expenses related to the offering, for working capital and other general corporate purposes, which may include capital expenditures related to station construction activities, its LNG plants and its biomethane production plant, future payments in connection with its purchase of the business of I.M.W. Industries Ltd. or future acquisitions of natural gas fueling infrastructure, vehicle or services businesses and biomethane production assets, including the potential acquisition of Wyoming Northstar Incorporated.

BofA Merrill Lynch is acting as sole book-running manager for the offering. Craig-Hallum Capital Group is acting as co-manager of the offering.

The offering will be made under Clean Energy’s effective shelf registration statement filed with the Securities and Exchange Commission (SEC). Clean Energy intends to file with the SEC a preliminary prospectus supplement for the offering to which this communication relates. Prospective investors should read the preliminary prospectus supplement and the shelf registration statement for more complete information about Clean Energy and the offering. Copies of the preliminary prospectus supplement and the accompanying prospectus and, when available, copies of the final prospectus supplement may be obtained by visiting EDGAR on the SEC’s Web site at https://www.sec.gov and from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or e-mail [email protected].

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Source: Clean Energy Fuels, November 11, 2010