Clean Energy Fuels Corp., incorporated in April 2001, is a provider of natural gas as an alternative fuel for vehicle fleets in the United States and Canada, based on the number of stations operated and the amount of gasoline gallon equivalents of compressed natural gas (CNG), and liquefied natural gas (LNG), delivered. The Company designs, builds, operates and maintains fueling stations and supply its customers with CNG fuel for light, medium and heavy-duty vehicles and LNG fuel for medium and heavy-duty vehicles. The Company also sells non-lubricated natural gas compressors and related equipment used in CNG stations and LNG stations, convert light and medium duty vehicles to run on natural gas, and produce renewable natural gas (RNG), which can be used as vehicle fuel or sold for power generation. As of December 31, 2011, it owned, operated or supplied 273 fueling stations for its customers in 23 states and Canada. The Company owned 153 of the stations, and its customers owned the other 120 stations.
The Company sells CNG and LNG and provides operating and maintenance (O&M), services to its customers. CNG is produced from natural gas that is supplied by local utilities to CNG vehicle fueling stations, where it is compressed and dispensed into vehicles in gaseous form. It also provides CNG by delivering and vaporizing LNG to turn liquefied natural gas into compressed natural gas (LCNG), at locations where no gas pipeline service exists or gas pipeline pressures are inadequate. It serves fleet vehicle operators in a variety of markets, including trucking, airports, taxis, refuse hauling and public transit. At December 31, 2011, it served approximately 530 fleet customers operating approximately 25,000 natural gas vehicles, and it owned, operated or supplied 273 natural gas fueling stations in twenty-three states, in British Columbia and Ontario within Canada, as well as in Peru. The Company is building a nationwide network of LNG truck fueling stations, which it refer to as America's Natural Gas Highway (ANGH), on the interstate highway system and in metropolitan areas.
The Company designs and constructs CNG, LNG and LCNG fueling stations and sell or lease some of those stations to its customers. It also sells RNG produced by its subsidiary Dallas Clean Energy LLC (DCE), sell natural gas vehicles produced by its subsidiary BAF Technologies, Inc. (BAF), and sells advanced natural gas fueling compressors and related equipment and maintenance services through its subsidiary Clean Energy Compression Corp, also known as I.M.W. Industries Ltd. (IMW). In addition, the Company helps its customers acquire and finance natural gas vehicles and obtain local, state and federal clean air rebates and incentives. During the year ended December 31, 2011, it procured 43% of its LNG from third-party producers, and the Company produced the remainder of the LNG at the Pickens Plant and the California LNG Plant.
The Company competes with Intergrys, Pacific Gas and Electric, Encana, Chesapeake, Apache, Mansfield Oil, Vocational Energy, Applied LNG Technology and Prometheus Energy.