Why Clean Energy Fuels Shares Are Rising

Clean Energy Fuels Corp CLNE shares are trading higher by 17.8% at $6.49 Wednesday morning amid the company's 'RNG Day' Investor Day presentation.

"With carbon reduction up to 500 percent, RNG is the epitome of renewable energy," said Andrew J. Littlefair, president and CEO, Clean Energy. "It presents enormous potential in sustainable transportation, so we're focused on a pathway to grow both the production and distribution of this negative carbon intensity fuel."

Clean Energy says, as part of the presentation, the company will announce that it has signed an agreement to construct a methane capture digester at Millenkamp Dairy in Jerome, Idaho, one of the largest dairy farms in the U.S.

The project is expected to provide an anticipated five million gallons of very low carbon-intensity RNG annually which will flow into Clean Energy's fueling network. The Millenkamp project will be developed through Clean Energy's joint venture with bp.

Clean Energy has a 52-week high of $19.79 and a 52-week low of $4.70.