Bus

Three companies invest $150M in Clean Energy

Posted on August 26, 2011

Three investment companies — Springleaf Investments Pte. Ltd., Lionfish Investments Pte Ltd and Greenwich Asset Holding Ltd. — agreed to invest $150 million in Clean Energy Fuels Corp.

"This investment by Temasek, Seatown and RRJ demonstrates their confidence in the opportunity for fueling natural gas vehicles as well as in Clean Energy's position as the leader in growing this market," said Clean Energy President/CEO Andrew J. Littlefair. "Our development program for fueling station-building is expanding rapidly and we welcome the support provided by the funds."

The $150-million investment is in the form of 7.50 percent convertible notes due in 2016. The notes will be convertible into shares of Clean Energy common stock at $15 per share. The closing of the investment is scheduled to occur on or before Aug. 30, 2011 and is subject to customary conditions.

The use of proceeds is intended to support Clean Energy's fueling infrastructure building program broadly, including the development, construction and operation of liquefied natural gas and compressed natural gas fueling stations and the related support, management, maintenance and marketing of those stations, including the development, construction and operation of offloading facilities, related production assets and delivery trucks.

View comments or post a comment on this story. (0 Comments)

More News

RNL unveils design for Foothill Transit facility, park-and-ride

Development includes a 372-stall, three-level parking structure, six-bus bay transit center, a 4,400-square-foot retail building and a public plaza design to connect to the future civic component.

Man charged with murder after stabbing Winnipeg Transit bus driver

The incident occurred at 2 a.m., when the driver pulled up to the last stop of his shift and asked the man to leave the bus. After a physical altercation, which ended up outside the bus, ensued, the driver was stabbed multiple times.

N.Y.'s NICE to add 33 New Flyer buses

Twenty-eight 40-foot buses will replace existing buses in the NICE fleet that have reached the end of their useful life, while five 60-foot buses will be used on the customer's new bus rapid transit line, scheduled to start service in 2017.

Nova Bus, ABB partner for electric bus, charger delivery to N. America

The ABB DC fast charger, with the associated systems, is based on the common interface, which allows charging stations and electrified buses from different manufacturers to be used together.

Proterra names Horton to CCO post

Will lead the end-to-end customer lifecycle as Proterra triples production and initiates large-scale deployments across North America.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation

Please sign in or register to .    Close