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

CapMetro plan would nearly triple high-frequency routes

The changes recommended in the Connections 2025 draft plan would be implemented in phases over the next 10 years.

French bus operator becomes first in Europe to accept Bitcoin

Isilines, a new long-distance passenger transport division of Transdev Group, has been using Bitcoin as a method of payment alongside traditional credit card payments on its website since early August.

2 NJ Transit buses crash, killing driver, injuring 18

One bus struck the other in a T-bone crash at the intersection of Raymond Boulevard and Broad Street just after 6:05 a.m., NJ Transit spokesman Jim Smith said.

CTA Wins 2016 APTA Innovation Award for Ventra Mobile App

The Ventra Mobile App provides one-stop convenience for transit riders who travel on CTA’s “L” trains or buses, Pace buses or Metra commuter trains – enabling the transit rider to plan, manage and pay for their journeys.

Community Transit to add 17 Alexander Dennis 'Double Tall' buses

Four of the new buses will replace aging 60-foot buses that serve the Seattle commuter market; the other 13 double deckers will be expansion buses to accommodate new service.

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