Clean Energy Shareholders Approve Total’s Investment

The purchase and sale of the shares is expected to close on or around Wednesday, June 13, 2018. Total’s acquisition will represent 25 percent of Clean Energy’s outstanding shares and will make it Clean Energy’s largest shareholder.

The number one priority of the new partnership between the companies will be to make it easier for more heavy-duty truck fleets to transition away from diesel and adopt a cleaner, zero emissions natural gas fueling solution.

“This significant investment by Total, whose ambition is to become the Responsible Energy Major, is a confirmation of Clean Energy’s business plan to expand the use of clean natural gas as a transportation fuel, especially by those vehicles which consume the most fuel and cause the most pollution,” said Andrew J. Littlefair, CEO and president of Clean Energy. “The number one priority of the new partnership between the companies will be to make it easier for more heavy-duty truck fleets to transition away from diesel and adopt a cleaner, zero emissions natural gas fueling solution.”

In a separate transaction, Clean Energy, with support from Total, expects to launch an innovative truck finance program to eliminate the incremental cost differential between the purchase of a natural gas truck equipped with the world’s cleanest engine and its diesel counterpart. Expected to launch during the third quarter of 2018, the program would also guarantee a five-year fixed discounted price for Clean Energy-supplied natural gas fuel, allowing heavy-duty truck fleets to immediately achieve sustainability goals at the price and ease of operating diesel trucks. Total intends to provide up to $100 million of credit support for the program.

Read the Original Press Release