Clean Energy Fuels Corp. has entered into an agreement to acquire the natural gas fueling station business of Exterran Holdings Inc.
The acquisition agreement includes natural gas station operations and maintenance (O&M) contracts covering approximately 25 million GGEs (gasoline gallon equivalents) of natural gas fuel on an annual basis for four transit operators (eight fueling facilities).
Transit agencies served include Los Angeles County Metropolitan Transportation Authority (Metro), which operates the largest clean air bus fleet in the U.S.; Montgomery County Transit, Md.; Washington Metropolitan Area Transit Authority (Metro) and Massachusetts Bay Transportation Authority (MBTA) in Boston.
The acquisition of the L.A. Metro and MBTA contracts closed effective upon signing of the acquisition agreement. The sale of the contracts with Montgomery County Transit and Wahsington Metro is subject to approval of the appropriate transit authorities. The aggregate purchase price for the acquired contracts is approximately $5.9 million, of which approximately $3.2 million was paid upon the closing of the sale of the L.A. Metro and MBTA contracts.