Clean Energy tightens losses

Clean Energy Fuels, one of the largest providers of natural gas fuel for transportation in North America tightened its losses in 2018. 

The company reported a net loss of $3.8 million, compared to $79.2 million in 2017.

Revenue for 2018 was $346.4 million, a 1.4 percent increase from $341.6 million for 2017.

For the year ended December 31, 2018, the company delivered 365.5 million gallons, a 4.0 percent increase from 351.4 million gallons delivered for the year 2017.

This increase was due to growth in CNG volumes partially offset by a reduction in LNG volumes resulting from the non-renewal of two contracts and a decrease in RNG volumes for non-vehicle fuel that were included in contracts sold to BP Products North America in the company’s sale of its upstream RNG production business to BP in March 2017.

Out of the toal volumes delivered in 2018, Clean Energy delivered 299.5 million gallons of compressed natural gas (CNG) rising from 283.4 million gallons in 2017.

LNG gallons deliveries remained flat reaching 66 million gallons in 2018, down from 66.1 million gallons in 2017.