Clean Energy Sells Interest in Biomethane Facility
Clean Energy has announced the sale of its majority interest in its McCommas Bluff biomethane production facility located in Dallas, Texas, to minority interest owner Cambrian Energy for approximately $40.6 million with approximately $3.0 million in additional compensation pending further performance tests. Clean Energy will continue to have the right to market and sell biomethane produced at the facility under its Redeem renewable natural gas (RNG) vehicle fuel brand. Cambrian Energy has been Clean Energy’s partner since Clean Energy bought into the McCommas project in August 2008. Clean Energy quintupled the production of biomethane at the McCommas facility over the past six years and brought about greater financial stability. “With McCommas remaining an RNG supplier, we will be able to focus our RNG business on Clean Energy Renewables’ core strength—marketing and selling alternative fuels,” said Harrison Clay, president of Clean Energy Renewables, a division of Clean Energy.
Clean Energy commenced production at its new biomethane facility in North Shelby, Tennessee, this year and added an additional 12 third-party-owned biomethane production sources to its portfolio of RNG supply. The U.S. Environmental Protection Agency underscored the potential of biomethane in the renewable fuel landscape when it recently reclassified biomethane as a cellulosic biofuel under the Federal Renewable Fuel Standard. Redeem renewable natural gas is currently available throughout Clean Energy’s public natural gas fueling stations in California. For more information, contact Gary Foster at 949.437.1113 or firstname.lastname@example.org.