Three global investors will pump $150 million into a U.S. company that plans to build a nationwide network of natural gas fueling stations for heavy trucks.
The investment, scheduled to close by Aug. 30, will help Clean Energy Fuels develop, build and operate a network of liquid and compressed natural gas fueling stations.
Springleaf Investments, Lionfish Investments and Greenwich Asset Holdings will purchase $150 million in stock from Seal Island, Calif.-based Clean Energy. Springleaf is owned by Singapore’s Temasek Holdings, Lionfish by Seatown Holdings and Greenwich Asset Holdings by RRJ Capital Master Fund.
Clean Energy already is the largest U.S. distributor of LNG and CNG fuel to transportation fleets, from municipal bus fleets to refuse trucks and delivery vans. The company said it operates a network of 248 fueling stations across the U.S. and Canada, providing natural gas fuels that power more than 23,000 vehicles.
The fresh investment follows a $150 million deal with natural gas producer Chesapeake Energy to build the natural gas fueling network for heavy trucks.
“Our development program for fueling station-building is expanding rapidly,” said Andrew J. Littlefair, president and CEO of Clean Energy.
The company plans to build 150 liquefied natural gas fueling stations at truck stops along major trucking corridors nationwide over the next two years.