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

Fla.'s JTA unveils first of new Gillig CNG buses

Each bus is custom made to JTA specifications and arrives with specific branding. The sleek, aerodynamic design incorporates a raised, raked-back front cap blended into a full length, contoured roofline. Its modern profile makes a distinguished statement.

Va. woman struck by bus awarded $4.5M

The driver had reportedly been in four other accidents in the previous 18 months but was allowed to stay behind the wheel.

Fla.'s HART partners with Megabus.com to pilot service option

The agency is already providing enhanced routes and options through a unique 5-year partnership agreement with Megabus.com which began last year, to offer express travel to and from Miami and Orlando for as little as $1.

BusCon 2015 takes Indy by storm with new vehicles, tech and education

The 20th installment of the show featured more than 50 new exhibitors, 70-plus vehicles and plenty of information to inspire attendees.

House moves to delay PTC deadline

A bipartisan measure has been introduced in the lower chamber that would push back the deadline for most railroads to install automated train technology until December 2018.

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 resource for managers of class 1-7 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