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

Stagecoach to deliver contactless bus travel across UK by end of 2018

The $15 million initiative will allow passengers to pay for their travel with a contactless credit or debit card, as well as Apple Pay and Android Pay.

Alexander Dennis' Enviro500 concept bus on display in Singapore

The full low-floor, three-door, two-staircase double-deck bus is being shown at the LTA-UITP Singapore International Transport Congress and Exhibition in Suntec City.

ETA adds Intelligent Transit System to Grand Valley

The new ITS provides Grand Valley with ETA's real-time arrival predictions, fare collection system integration, automatic on-board announcements, and the tools to track and chart system improvements over time.

Proterra names Honeywell, Tesla vet to COO post

Josh Ensign’s track record includes leading global operations for 42 factories in 15 countries and managing the supporting supply chains. 

Nova announces 2 major orders for San Antonio VIA, Houston Metro

The buses will be manufactured in Plattsburgh, state of New York, and the delivery of the vehicles has already begun in Houston.

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



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