NEWPORT BEACH, Calif.--(BUSINESS WIRE)--U.S. Senate Bill S. 4389 was introduced yesterday by Senators Mark Warner (D) from Virginia and Thom Tillis (R) from North Carolina, which will provide a $1.00 per gallon tax credit for the use of renewable natural gas (RNG) as a transportation fuel. A companion bill was introduced in the U.S. House earlier in the session by Representatives Linda Sanchez (D) from California and Brian Fitzpatrick (R) from Pennsylvania.
Andrew J. Littlefair, CEO and president of Clean Energy Fuels Corp. (NASDAQ: CLNE), the country’s largest provider of RNG, issued a statement in support of the “Renewable Natural Gas Incentive Act of 2024”:
“At a time when other alternative fuels are having difficulty finding their footing in the heavy-duty vehicle market, RNG is being accepted more and more by fleets that want to reduce their carbon emissions. A robust RNG fueling infrastructure has been built across the country with more stations being added regularly. And a new larger engine that operates on RNG manufactured by Cummins is hitting the market this summer so, the time is ripe for Congress to give a boost to the use of this remarkable fuel.
“No other fuel eliminates greenhouse gas emissions both at the source and on the road the way RNG does, giving it the best carbon-intensity score of any fuel available in significant quantities. On top of that, the production of it is giving an economic lift to the country’s agricultural industry, particularly dairies, and creating jobs in rural areas.
“We applaud the bi-partisan way the RNG Incentive Act of 2024 began with strong authors in the Senate and the House and encourage continued support as it works its way through to become law of the land.”
RNG is derived from capturing the biogenic methane produced by decomposition of organic waste from dairies, landfills, and wastewater treatment plants. It can reduce climate-harming greenhouse gas emissions by over 300 percent depending on the source of the RNG, making it a negative carbon-intensity fuel. Thousands of medium- and heavy-duty vehicles operate on it every day by transit agencies in dozens of cities like New York, Los Angeles, San Diego and Dallas, waste companies like WM and Republic Services, and logistics companies like UPS, Amazon, Saia Trucking Services, and Saddle Creek Logistics Services.
About Clean Energy
Clean Energy Fuels Corp. is the country’s largest provider of the cleanest fuel for the transportation market. Our mission is to decarbonize transportation through the development and delivery of renewable natural gas (RNG), a sustainable fuel derived from capturing methane from organic waste. Clean Energy allows thousands of vehicles, from airport shuttles to city buses to waste and heavy-duty trucks, to reduce their amount of climate-harming greenhouse gas. We operate a vast network of fueling stations across the U.S. and Canada as well as RNG production facilities at dairy farms. Visit www.cleanenergyfuels.com and follow @ce_renewables on X and LinkedIn.
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks, uncertainties and assumptions, including without limitation statements about: the potential development of the consumer market for RNG; the timing and status of station construction; the growth and market of natural gas engines; the environmental, economic, and other benefits of Clean Energy’s fuels; the availability of environmental, tax and other government regulations, programs and incentives; and the impacts of legislative and regulatory developments. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements. The forward-looking statements made herein speak only as of the date of this press release and, unless otherwise required by law, Clean Energy undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. Additionally, the reports and other documents Clean Energy files with the SEC (available at www.sec.gov) contain risk factors, which may cause actual results to differ materially from the forward-looking statements contained in this news release.
