% | $
Quotes you view appear here for quick access.

Clean Energy Fuels Corp. Message Board

  • blutribe27 blutribe27 Aug 25, 2011 7:26 AM Flag

    BIG NEWS!!Clean Energy Fuels Gets $150M Investment

    Clean Energy Fuels Gets $150M Investment From 3 Firms Last update: 8/25/2011 7:18:53 AMDOW JONES NEWSWIRES Clean Energy Fuels Corp. (CLNE) has picked up $150 million in new investments, as a trio of investment firms seek to participate in the growing natural gas vehicle market. Clean Energy, which builds natural-gas fueling stations for heavy-duty trucks, said the investments come in the form of 7.50% convertible notes due in 2016 and are expected to close by the end of the month. The notes will be convertible into shares of Clean Energy common stock at $15 a share. The investment from Springleaf Investments Pte. Ltd., a wholly-owned subsidiary of Temasek Holdings Pte. Ltd., Lionfish Investments Pte. Ltd, an investment vehicle managed by Seatown Holdings International Pte. Ltd, and Greenwich Asset Holding Ltd, a wholly-owned subsidiary of RRJ Capital Master Fund I L.P., follows a $150 million investment from oil-and-gas company Chesapeake Energy Corp. (CHK). Clean Energy said it plans to use proceeds to support its infrastructure building program, including the development and construction of natural gas fueling stations. "Our development program for fueling station-building is expanding rapidly and we welcome the support provided by the funds," said Chief Executive Andrew J. Littlefair. Seeking to offer a lower-cost alternative to diesel, Clean Energy has worked to accelerate its roll out of a natural gas fueling infrastructure along major trucking corridors in the U.S. Earlier this month, the company reported it swung to a second-quarter loss on higher expenses. Shares closed Wednesday at $12.83 and were inactive premarket. The stock is down 7.3% so far this year. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; (END) Dow Jones NewswiresAugust 25, 2011 07:18 ET (11:18 GMT)

    SortNewest  |  Oldest  |  Most Replied Expand all replies
4.35+0.07(+1.64%)Oct 21 4:00 PMEDT